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Cake day: August 20th, 2023

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  • They own a big chunk (possibly a majority) of Spotify and extract hefty licensing fees from it. (Spotify moving into podcasting was apparently intended to find a market in which they could keep the profits.) The majors get far better licensing terms than indie labels or small artists would get, because they have the whip hand: Spotify has no choice but to pay up as not to become a platform without Taylor Swift/Ed Sheeran/Baby Shark/etc., which would effectively wipe them out.

    Make no mistake, the three major labels (Warner, Sony and Universal) are reaping the vast majority of profits from Spotify.








  • It makes some sense. Australia is not that unlike the US: there’s a lot of geographical spread, people more or less speak the same language, much of it is car-centric so you won’t have to get used to walking/cycling everywhere as you might in Europe, plus there’s a more or less functioning state healthcare system and much fewer guns in the hands of the general public. On the downside, the wildlife wants to kill you, and the locals will call you a “bloody seppo bastard” (rhyming slang for American, from “septic tank”/“yank”), though sometimes affectionately.











  • Not even that; 0.1% per trade would bring in a huge windfall. Even something negligible like 0.01% would bring in nontrivial amounts of revenue.

    The problem is that being above paying tax has become part of the identity of being rich, and the very idea of even a negligible amount of one’s wealth being taken away to be given to your inferiors is unacceptable, and the rich will defend every fluctuating cent of their wealth as a non-negotiable matter of honour, even if it means burning down the world.