1. A really fascinating article about Pandora and Spotify royalties which amount to almost nothing. For example, the author of the article, Damon Krukowski, earns $0.0004611 per play on Spotify. He and his bandmates made less than $30 for nearly 6,000 song plays. Krukowski points out that not only are the musicians not making any money off of this service, but the companies themselves are in the red. Krukowski points out:
The answer is capital, which is what Pandora and Spotify have and what they generate. These aren’t record companies– they don’t make records, or anything else; apparently not even income. They exist to attract speculative capital. And for those who have a claim to ownership of that capital, they are earning millions– in 2012, Pandora’s executives sold $63 million of personal stock in the company. Or as Spotify’s CEO Daniel Ek has put it, “The question of when we’ll be profitable actually feels irrelevant. Our focus is all on growth. That is priority one, two, three, four and five.”
So investors are being taken for a ride while company executives – salesmen, really – B.S. about growth.
2. The beer and liquor business in England versus the U.S. Cheaper alcohol may come our way, and, according to author, it may come with all of the negative social consequences.
3. Hugo Schwyer argues that the end of white men is actually good for white men. You know what to expect – here is his completely dumbfounding lede:
More than 200 years of American bro-ocracy have come to an end.
4. A video panel at Cato Institute on education achievement and inequality. Lots of Charles Murray themes.