1/ Let's start with something controversial: the music industry is inverting.
1 / Let\u2019s start with something controversial: Money managers are a commodity.
— \u1d05\u1d00\u1d20\u026a\u1d05 \u1d18\u1d07\u0280\u1d07\u029f\u029f \u270c (@david_perell) December 5, 2017
If you wanted to hear him play, you had to listen in person. Fans had personal relationships with their favorite musicians.
For the first time, music was infinitely replicable and could last forever. Since fans didn’t have to listen to music live, they could support their favorite musicians in new ways.
Artists lacked the skills and capital required to distribute their music. They had to live in NY, LA, or Nashville, where they did favors for industry insiders and paid their dues.
Small groups of “expert” executives called the shots.
Their business models depended on mass market reach and distribution, so they financed music for people with “average” taste.
The big got bigger, but it was hard for small artists to break in.
The internet changed things. Consumer spend on recorded music plummeted, falling 71% from 1999 to 2014.
He used to make Top 40 playlists and upload them to torrent sites. Then, he slipped his own track in there and people thought it was a hit.
Perception became reality when I started dancing to it at Bar Mitzvahs 😂😂
The laws of supply and demand no longer work when there’s infinite supply and replication is easy.
The music industry needs a new revenue stream.
Today, 87% of revenue now comes from concerts versus recorded music. Live music is the bedrock of artists’ income streams.
Playlists trump albums and there's a new set of rules:
1) Release music more often.
2) Focus more on singles, and less on albums.
3) Record videos to connect with fans.
1) Playlists
2) Viral videos and memes
Power has shifted from gatekeepers to the wisdom of the crowd.
Why?
Each song generated millions of social media impressions, downloads, and streams. No song left behind.
They’re brilliant community builders — they’re real, accessible, and engage fans directly.
Gangnam Style was so popular that tourism to South Korea increased more than 15% the year after it was released.
Music used to be the bottom of the funnel, but now, it’s the top of the funnel.
With brand deals, startups, and merchandise sales, artists are building a portfolio of revenue streams. People don’t just buy music — they buy the brand.
Artists are building passionate communities.
Fans have direct relationships with their favorite artists.
More from All
How can we use language supervision to learn better visual representations for robotics?
Introducing Voltron: Language-Driven Representation Learning for Robotics!
Paper: https://t.co/gIsRPtSjKz
Models: https://t.co/NOB3cpATYG
Evaluation: https://t.co/aOzQu95J8z
🧵👇(1 / 12)
Videos of humans performing everyday tasks (Something-Something-v2, Ego4D) offer a rich and diverse resource for learning representations for robotic manipulation.
Yet, an underused part of these datasets are the rich, natural language annotations accompanying each video. (2/12)
The Voltron framework offers a simple way to use language supervision to shape representation learning, building off of prior work in representations for robotics like MVP (https://t.co/Pb0mk9hb4i) and R3M (https://t.co/o2Fkc3fP0e).
The secret is *balance* (3/12)
Starting with a masked autoencoder over frames from these video clips, make a choice:
1) Condition on language and improve our ability to reconstruct the scene.
2) Generate language given the visual representation and improve our ability to describe what's happening. (4/12)
By trading off *conditioning* and *generation* we show that we can learn 1) better representations than prior methods, and 2) explicitly shape the balance of low and high-level features captured.
Why is the ability to shape this balance important? (5/12)
Introducing Voltron: Language-Driven Representation Learning for Robotics!
Paper: https://t.co/gIsRPtSjKz
Models: https://t.co/NOB3cpATYG
Evaluation: https://t.co/aOzQu95J8z
🧵👇(1 / 12)
Videos of humans performing everyday tasks (Something-Something-v2, Ego4D) offer a rich and diverse resource for learning representations for robotic manipulation.
Yet, an underused part of these datasets are the rich, natural language annotations accompanying each video. (2/12)
The Voltron framework offers a simple way to use language supervision to shape representation learning, building off of prior work in representations for robotics like MVP (https://t.co/Pb0mk9hb4i) and R3M (https://t.co/o2Fkc3fP0e).
The secret is *balance* (3/12)
Starting with a masked autoencoder over frames from these video clips, make a choice:
1) Condition on language and improve our ability to reconstruct the scene.
2) Generate language given the visual representation and improve our ability to describe what's happening. (4/12)
By trading off *conditioning* and *generation* we show that we can learn 1) better representations than prior methods, and 2) explicitly shape the balance of low and high-level features captured.
Why is the ability to shape this balance important? (5/12)
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THREAD: 12 Things Everyone Should Know About IQ
1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE
2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n
3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)
(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)
4. IQ predicts many important real world outcomes.
For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3
5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)
1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE
2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n
3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)
(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)
4. IQ predicts many important real world outcomes.
For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3
5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)