Snip from a Harvard Business blog post by Umair Haque on the digital-age business lessons to be learned from Michael Jackson's death, and analysis of the purported revenue from his career over the last three decades:
Want to know why we have a zombieconomy? Because the beancounters killed the incentives to create real value.
Let's use MJ's tragic death as a mini case-study. $300 million over, for example, 25 years? That's $12 million a year.
I'm deliberately leaving out ads, endorsements, concerts, etc., to focus on the the structural problems in one industry: music.
If the world's biggest pop star only made $12 million a year from his recordings, why would anyone make serious music? Where did the rest of the money go? Why, straight into record labels' pockets. Did they make better music with it? Nope — they made Britney and Lady GaGa. And that's how they killed themselves: by underinvesting in quality, to rake in the take.
Wait a second — that sounds familiar. You can add back in the endorsements, etc. now — they only double the figure: to about $25 million.
If the world's biggest pop star only made $25 million a year in total, something's very, very wrong. Where's the rest of the money? Why can't a resource as scarce as the King of Pop capture more value?
Michael Jackson and the Zombieconomy (via Bob Lefsetz)
Microsoft co-founder Bill Gates made some comments this week on the ‘tax the rich’ ideas making the rounds in America. Taxing the rich is fine, he said in an interview with The Verge, and “more progressive” taxes on the ultra rich are okay. Gates then went on to characterize Alexandria Ocasio-Cortez as an ‘extreme’ politician […]
California is the United States agricultural juggernaut. Produce from California feeds the world and drives one of the largest economies on the planet. A side-effect of Trump’s beloved, family destroying ICE raids is a massive labor shortage. Fruit rots on the vine. Children lose their parents. Via Bloomberg: Their absence threatens segments of the largest […]
Legal marijuana comprises only about 10% of the total U.S. weed market, but it already eclipses total sales of foods like frozen pizza and services like music streaming, according to Alternet, who looks at other markets that will soon be dwarfed by weed sales.
Looking for a new tablet? If you haven’t upgraded in a while, it might be time to check out the latest iPad Pro for two very good reasons. First, the 2018 model is a real workhorse. The 12X Bionic chip processor means it can handle any task you set out for it, and still have […]
You want wireless earbuds to make an impact on your mood and workout, not the environment. If that’s the case, we’ve got a new contender for AirPod market share: Brio Phantom X7 True Wireless Earbuds. The features on these tiny, comfortable buds are impressive even without the environmental angle. Their Bluetooth 5.0 connectivity is good […]
We don’t ask for much out of our charging cables: Juice up our phone, do it fast and don’t break. It’s supposed to be simple, but keeping your phone plugged in for the night – as most of us do – can actually degrade the life of your battery by overheating it. That’s why one […]