Of course streaming strengthens the power law distribution of the payouts in this space.
Podcast, youtube channel, music, it is all the same process and payout structure.
Since there is too much choice you just have to sample what is popular and so what is popular gets more popular at the expense of the less popular. Repeat.
Even worse to me is so many orchestras have to pay the bills with performances of Christmas music or orchestral versions of Motley Crue.
Imagine putting in that many hours of practice on the classical masters to end up with a low paying job playing Frosty the Snowman and Def Leppard "Pour Some Sugar On Me".
>Imagine putting in that many hours of practice on the classical masters to end up with a low paying job playing Frosty the Snowman and Def Leppard "Pour Some Sugar On Me".
The vast majority of work in any given profession is lower tier work like this.
The electrician you paid to install a dimmer could be doing much more advanced work but he does what pays the bills.
In the abstract, centralization bad, decentralization good.
There is no deeper thought going on here than the above. These are barely thought out, quasi religious beliefs as moral justifications for get rich quick schemes and frauds.
IMO after Greenspan, the Fed was basically captured by Wall Street.
I just don't know how anyone at this point can not say the Fed's job is to write puts under the equity markets when that is exactly what they have done for 13 years.
He cut the funds rate from 6% to 1% pretty much overnight, which was excessive given there was only a mild recession at the time.
To his credit he did start ratcheting it up shortly after.
Low rate from past decade is for many reasons, high unemployment for most of the 2010s is the main one. Weak fiscal response to 2008 leading to slow recovery.
The Fed shouldn't be the tool to try to address impact of a recession, it's much healthier to address through an intelligently crafted fiscal package. But the ease of being able to unilaterally set monetary policy tends to corrupt the Fed's decision making and skew it towards short term problems.
All that being said, Greenspan did a hell of a better job than Powell overall
Many bands use to love their labels privately but in the press blast the labels as evil corporate empty suits to fit that typical narrative and image.