Singing for their supper
You may have noticed that there are a lot of ‘Older’ Rockstars coming out to perform in your country. Bands we thought we’d only hear on Golden Oldies radio stations and never see live again. Well they are all back playing live again….
…I’m guessing it’s not buy choice. The fact that it’s pretty hard to find a record store these days is a good indication that the royalty streams old rockstars lived on have dried up for good. It’s much harder for older music to be promoted on iTunes than it was in a store that could only carry 2000 albums – from the artists who always got played on the radio. Their industry has been disrupted to the point where they now have to sing for their supper. Actively earn a living, versus passively receiving cash for deeds of yesteryear. Hence the deluge of 1980’s rockstars now touring again.
At some point disruptive technology effects us all. As startup entrepreneurs we are often the the creators of the disruption. As successful business people in years to come, our revenue streams will ultimately be disrupted by the next iteration. What we must do is create a war chest of revenue streams once we make bank. And the best advice I’ve ever been given that is future proof is this:
Build businesses, then buy real estate.
Sure it might sound boring, but one thing for certain is that it’s hard to see technology disrupting the value of good real estate. At least in our life times.