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" If a kid goes and buys a CD at Best Buy, we have no idea who the person is, how many times they listen to it, or anything like that. "
Troy Carter
Listen
Best
Idea
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" There was a time when radio stations wouldn't play Gaga's music because it was considered dance. Outside of live performances, the Internet became our primary tool to help people discover her music. "
Troy Carter
Dance
Time
People
" Technology has long been the driver of growth in the music business from the invention of lacquers, eight-track players, vinyl, cassettes and CDs. "
Troy Carter
Business
Growth
Music
" I like to compare the attitude and energy of an emerging start-up to that of the early hip-hop era. From working at labels like Bad Boy and Ruff Ryders, walking into the Def Jam offices, A Touch of Jazz and things like that, the vibe is that off making something out of nothing and making things work, and that's what I love about start-ups. "
Troy Carter
Walking
Energy
Love
" Spotify was one of the first services that actually focuses on the consumer because they don't have to spend hundreds of dollars a year on music. "
Troy Carter
Year
Because
Consumer
" No one has bridged that gap between music and technology yet. "
Troy Carter
Gap
Music
Between
" You can't make an artist like Lady Gaga. You can help support, you can help develop the vision - I think you can add to the vision - but you just can't make an artist like that. That's like saying Lebron James' high school coach made Lebron James. "
Troy Carter
Vision
Think
Support
" I thought I was going to be a rapper as a kid and used to hop the train down to Jazzy Jeff's studio for, like, six months straight waiting outside of the studio for the big break, and one day we got in the studio and played our demo for Will and Jeff and quickly learned that we weren't that good. "
Troy Carter
Waiting
Thought
Good
" Before I even agreed to work with Hennessy and the Privilege Awards, I wanted to do some research on it, look up past winners, and find out more about it. "
Troy Carter
Past
Research
Work
" The most successful people in the world are the ones who thought of that idea that was 'too crazy to work.' "
Troy Carter
Thought
Who
Work
" As important as hustle is, grit and resilience are equally as important because there's a lot of rejection in our business. "
Troy Carter
Business
Resilience
Rejection
" The venture capital world is completely stacked against minority entrepreneurs. "
Troy Carter
Minority
Against
World
" I'm from the streets, so I look at investing through a very unique lens. "
Troy Carter
Streets
Unique
Investing
" I think overall, and this isn't specific to Spotify or any streaming service or any label... when you consider the overall value chain of the music industry and how important the songwriter is to the business - I think there needs to be another look at the value chain. "
Troy Carter
Value
Service
Music
" Technology is going to play a huge part in tomorrow's music business. And the companies that will win are going to be the most equipped to understand how to use data to further an artist's career. "
Troy Carter
Technology
Tomorrow
Music
" When you have to negotiate for survival, and you have to know how to read rooms, and you have to know who the bad guys in the rooms are - who has the gun in their pocket, who's just going to brandish it, and who's going to actually pull the trigger. So I think that's just a natural instinct that comes with coming from where I come from. "
Troy Carter
Bad
Gun
You
" I invest in black-led startups not because of a sense of charity. I make those investments because of the basic principle of supply and demand and the reality that black entrepreneurs typically lack the network to have their deals become bid up and overvalued. "
Troy Carter
Black
Up
Reality
" Exclusives are bad for artists, bad for consumers, and bad for the whole industry. "
Troy Carter
Consumers
Artists
Whole
" If you look at a company like Uber, a company that so anti-establishment that cab companies are trying to find ways to shut it down, one could compare that to how Public Enemy and NWA went after then-modern society in hip hop. "
Troy Carter
Look
Down
Society
" Now we know that if we make a ten min video for YouTube, people will watch it. "
Troy Carter
Now
YouTube
Know
" When we're looking at strategic partners, it may be that they're larger partners or big corporations or start-ups. But, when you look at Gilt and places like Amazon and Starbucks, they're all places where it's a lot of foot traffic or digital traffic. "
Troy Carter
You
Digital
Look
" A lot of corporations now have venture arms that are investing in young entrepreneurs or building programs within so you can disrupt yourself internally instead of looking to those external factors. "
Troy Carter
Building
Young
Yourself
" Actors play different characters, so you have to build a new base around each new movie - with few exceptions, most actors don't have a fan base that just follows them around. With musicians, the fan base just goes everywhere they go. "
Troy Carter
Go
New
You
" When your back is against the wall, your brain has to function at a high level. "
Troy Carter
Level
Wall
High
" She was a performance artist calling herself Lady Gaga, who had a European dance-club sound and pop-star aspirations - elements that historically haven't mixed. "
Troy Carter
Artist
She
Performance
" You go into the venues, and there's a huge drop-off rate in the merch lines. People don't want to miss parts of the concert. "
Troy Carter
Concert
Go
Lines
" Backplane will provide a platform and tools for communities to socialize and communicate on a more focused level. "
Troy Carter
Will
Tools
Focused
" The way consumers interact with music is different now. It's not an albums business anymore; it's a singles business again, and the industry has gone through that before. "
Troy Carter
Business
Way
Gone
" When you sit down with Zynga and Google, and they talk about billions of impressions, you think, music has way more of an emotional connection than technology, but we haven't cracked the code. "
Troy Carter
You
Think
Technology
" My biggest frustration is the lack of scale in the music industry. The fact that no one has sold 100 million copies of an album is frustrating. "
Troy Carter
Music Industry
Fact
Frustration
" The only two things that ever came naturally to me are music and investing. "
Troy Carter
Music
Me
Things