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Lefsetz Letter » Blog Archive » ChatGPT

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This year’s topic is not AI chatbots, but risks to Google.

For years we’ve heard that these megatech companies are indomitable. eternally. If you started a new company, they would choose to buy you or compete with you, but they wouldn’t let you create an independent unicorn.

Facebook bought Instagram. And WhatsApp. Before DC spoke either fluently. They owned the sphere. Juggernaut.

Then came TikTok. Something no one expected. And Apple’s privacy restrictions. Facebook still makes money from advertising, but the future isn’t as optimistic as it once seemed.

As for Amazon…they really screwed up the company. Forget the negative perception of being anti-union. The site itself is becoming unusable for advertising. Anyone who shop there knows. Amazon still dominates, but a revived Walmart has a chance.

And while I always thought Tesla would have competitors, I never thought Elon Musk’s self-immolation would hurt the company.

So while this year’s story certainly isn’t about hardware, Facebook says so about virtual reality systems that are all but dead upon arrival.

When it comes to software… we’ve always thought about manna from heaven. Startups will give us something new that excites us. That’s not to say we won’t get anything new, but it’s not at the breakneck pace of ten years ago. Definitely not in the near future.

Silicon Valley, technology is mature. And now, like GE, old companies are being replaced.

As for GE… it led the way in financialization. This ruined not only the company, but the whole country, if not the world. make money to make money Wall Street used to provide cash to make things. It then became a casino where quants created products that no one else could understand and everyone wanted a part of the action.

And China hiccups.

You may have caught the news this week. Lacking enough young people to support the elderly, China is headed for a precipice as a result of the one-child couples edict. It turned out to be completely wrong.

The world is in flux. Take a snapshot today and he might look the same the next year, but 10 or 20 years from now he won’t look exactly the same.

And it’s not just technology, it’s everything. watch tv

As for music…

The focus for the last 20 years has been on technology. And now it has moved to software, the music itself, and no one admits this. Unlike technology, the major label catalogs offer power. But business is always built on new things that the majors have lost control of. Meanwhile, the usual culprits, terrestrial radio stations, the media are still focused on hit products when they make more sense than ever.

Zach Bryan goes on arena tour. And most people in America haven’t even heard of him! And demand is so great that there’s basically a ticket lottery. And Zach’s career is fueled not by hits, but by authenticity and authenticity. Kudos to Warner for signing Zack, but Zack is an outlier and no major has signed something that doesn’t sell easily.

Don’t let the hit parade overwhelm you. You haven’t had an opportunity like that outside for decades at least. The great thing about music is its scale. It costs even less to sell/stream the millionth or billionth copy than the first copy. And you can reach everyone.

For over 20 years, there has been no disruption to the creative realm of music. We’ve been on this hip hop/pop train… Once upon a time, Top Forty played Viking music. enough. Top Forty is like Google, waiting for ChatGPT.

And until the public actually sees it…

I’d heard about AI all along, but didn’t understand it until I experienced the product.

So it’s less about talking about trends and more about unique artists offering audiences something to satisfy. I’m not talking about disrespecting people, I’m talking about the exact opposite.

This is coming

Everyone talks about not one act, but many acts. Also Zach Bryans. Very large and profitable, but in a relatively narrow field.

And it’s all about the music, not about being a brand. Music is the band’s identity and what The Beatles have ushered in and underpinned throughout the classic rock era. Matching songs to singers… it’s the old fashioned way, Yahoo, not even Google.

This is the time. This is the border. The mature music business is ready for disruption. Not as innovative a business strategy as music. It’s almost free to create and sell. A big change from the past.

And the truth is, if you do something great, you get some traction.

Top-down advertising no longer works. Stories can’t break you, but word of mouth can.People have to hear it from others. These days people don’t trust anyone but their friends. They are relatively unreachable. The key is to leverage this friend network. You can’t interact with the system because you need your legs to make this work. Words have to spread from group to group, and for that the underlying music has to be almost spectacular.

We have the tools.

The enemy is not the big labels, streaming companies, or Ticketmaster. It’s completely old school thinking. The only thing holding you back is you.

But ChatGPT wasn’t built in a day. It took years. It takes longer than ever before to break. And when you try to short-circuit the process, it becomes unsustainable. Must be organic. That means you have to be committed for the long haul and it has to mean everything to you. Not enough to cross the finish line.

The whole world is trying to get it.

This is the time when music can fly. Reclaim its place not only in the world of art, but also in the world of culture and politics. Nothing influences people like music. If it’s honest and you have something to say. Sure, people need to party, but they’re thinking 24/7, and it’s appealing to their brains, too.

Zach Bryan is a trailblazer. he’s been doing it for a while. That’s how it used to be. When I heard about an act they had already made a few albums like Zach.

But these acts didn’t come clean for the first time in the arena.

They couldn’t make that much money.

But today you can.

Start the engine. We are hungry for your words of wisdom. Aiming high, we want to be amazed. you have a shot Only a few talented and dedicated people break through and emerge victorious, but that has always been the case. You may not be an overnight millionaire like in the tech industry, but you can speak truth to power and have greater influence. Put the pedal into the metal!

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