The Chainsmokers - Music & Markets - [Invest Like the Best, EP.430]
Episode publishedPodcast: Invest Like the Best with Patr...Invest Like the Best with Patrick O'Shaughnessy
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Something I speak about frequently on Invest Like the Best is the idea of life's work. A more fun way to think about it is that I'm looking for maniacs on a mission. This is the basis for our investment firm, Positive Sum, and it's the reason why I'm so enthusiastic about our presenting sponsor, Ramp. Not only are the founders, Kareem and Eric, life's work level founders, certainly maniacs on a mission, they have created a product that is effectively an unlock for founders and finance team to do more of their life's work by streamlining financial operations, saving everyone their most precious
O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own opinions and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of positive sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc. My
guests today are Alex Paul and Drew Taggart. You might know them as the Chainsmokers. We explore their fascinating evolution from scrappy DJs to global superstars to serious venture capitalists with their fund, Mantis. Drew and Alex share how the same high touch relationship driven approach that built their music empire now defines their investment philosophy. Their frameworks for backing founders mirrors their artistic approach. They invest in obsessive individuals who will pursue their visions regardless of external validation, much as they've remained authentic to their sound despite indust
How do you feel about models training on your content? I don't care. Yeah. I figured. Yeah. Yeah.
Because it's like a cat out of the bag.
We don't care about our music either. I asked is there so much controversy around music and art.
Kurt Adler described pretty successful company, and he's starting something new. And he's like, you know, one of those founders where you're like normally, you'd be like, this is a really successful second time founder starting something in AI now. And I spoke to him, and he was like, yeah. It's basically, like, licensing copyright rights that you find a way to protect and then get people paid. And I was just like, this feels It's
like I'm gonna stand in front of a tsunami Yeah. And I'm gonna hold it off.
Yeah. I was like, everything here is, like, hinged on government protecting IP. And by the way, it's already too late.
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