Taylor Swift called Spotify a "startup with no cash flow." Is she right? http://t.co/GJx84AwEM6pic.twitter.com/mWq5T5ZkQu
— Forbes Tech News (@ForbesTech) August 4, 2015Taylor Swift is well known for single-handedly changing the music industry forever by single-handedly making Apple pay artists. She commented on her extraordinary power in the industry yesterday with
“I found it really ironic that the multibillion-dollar company reacted to criticism with humility, and the startup with no cash flow reacted to criticism like a corporate machine” she said, adding that Apple “treated me like I was a voice of a creative community…”
But is she right?
Highlights from [source]:
- Spotify had $1.3B in revenue last year, and raised over $500M in funding this year alone, so its cash flow is fine
- Now has market capitalization of $8.5 billion
...And a few notes on Apple's sense of community and respect for talent. Those multi-billion dollar profits are a result of one of the most complex tax shelter systems in the world, worth billions and essentially slave labor. Oh, and they colluded with other tech companies on wage-fixing to prevent skilled labor from getting paid fairly for their work.
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ontd, has your fave ever stood up for indie artists and good business ethics?
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