Yes, Daniel Ek is a smart guy, getting very rich and I know there is a culture out there commending this.
I find it sad that it’s don on the back of the people who helped shaped almost everyones personalities in their formative years.
And yet, we’re talking about a day this year when new investors in Spotify will earn more than $100m, pretty much guaranteed, for doing nothing more than answering Daniel Ek’s call.
We’re also talking about a day where the major labels, who’ve taken somewhere between 15% and 20% in Spotify, get a ginormous one-hit windfall that looks almost impossible to attribute or audit to individual artists.
Source: Spotify’s investment striptease is an ugly necessity – but an insult to artists – Music Business Worldwide