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I let's head on back to the all things digital conference.
From music mogul -- venture capital rock star at each pair is now a guy is -- for this exclusive interview Adam.
Yes that's and I had an accurate title you know movies music rock star -- -- capital ventures rock star because guys Syria not only the manager of Madonna but.
Part of -- A grade investments you've heard of Ashton could sure you've heard of Ron Burkle but got a series.
Is just successfully with his partners raised close to a hundred million dollars now the value of the fund for future investments -- where do you put that money are you seeing things here.
That might be the next big thing.
Well we're just gonna do exactly we've been doing for last -- we just have done -- their own money.
And we're always looking for innovation and and and companies that we believe we can help.
But the topic we keep hearing.
This year is mobile first the end of the PC PCs are yesterday's news -- first how to people make money I mean for instance your investments Spotify.
How do you take that forward and make the kind of money that -- is gonna make it worth your while to be invest.
We'll Spotify is is currently valued at over three billion dollars.
Spotify this year will already have people are just still finding out about it they have about six million people signed up.
They will do they'll pay out to.
The music industry 500 million dollars this year.
Pretty big for a company that just started.
And you've heard all we've heard a lot about the music industry's dad and it's in and it's in trouble.
And here comes a company out of nowhere that's gonna pay out half a billion dollars to the music industry and it's just starting to pick up laments.
A changing the whole landscape of how the music industry actually operates three years ago you had to get record label they had to cut the -- -- and you remarked that now an artist.
Get with a manager can actually do this all on their own I mean that's what it.
They can but -- -- you shouldn't discounts.
You know record labels or even independent record labels us something about a team.
And like I came from of the record company and I have maverick records with with.
-- many years back and and you -- you need -- team -- people to help you with -- everything everything from you know how to market your record how to get it out.
I mean I I get a look with Spotify the time just a -- member of Spotify and enjoying it.
I understand how music can -- you -- on my Smartphone or on my iPad what about -- -- B&B or how do you monetize these future.
Applications that will all be mobile.
Player game be -- -- right now we're where there where were.
Getting rid of things we don't need anymore we can now actually.
Go directly to of the person who's renting mean their apartments -- -- and talk to them directly without having a middle man.
Be part of that without having a you know two weeks guarantee -- all the stuff the comes that the clunky -- of of of trying to connect those dots and now every he makes it seamless you just you can go on you'll see.
2030 photos of of the place -- gonna -- You're gonna see the person is renting is gonna see comments about you is a person's gonna rants -- really makes this.
And incredible way to.
Pick where you want to stay and it's very cost effective.
And finally when you see a start up what are they perhaps to see trained to look for before -- -- put your money on the line.
You know that the founder the so that's like as you know for my record company background you you -- -- -- are locked in the room.
You wanna see someone and -- you know what they've got talent they've been and they have they can carry themselves like they've got talent to -- about on this person right we have to find those artists.
Very very early on before anyone ever heard on the radio years before they heard on the radio.
Does that -- feeling now when you see -- founder and and and they -- in a room and they.
Share their vision was you you know they are the rock star they're sharing their music with you they're sharing their album with you.
And and I look -- -- go can I help market that album -- help market that vision in the same way that I've been doing since I was kid.
All right guys Terry thank you for joining us we we heard earlier in the day Smartphone penetration globally only 21% when you talk about the upside for all of this not only for your firm.
But all of the firms -- the people are here there's a lot of money to be made to -- throwback to New York but we appreciate -- being with us and all of -- to you thank you.
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