42 Lessons from Alan B Krueger’s Rockonomics

Business, Creativity and Life Lessons from the Music Industry

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1. Be Data Informed, Not Data Driven

2. Supply, Demand and All That Jazz

3. Scale and Non-Substitutability are Two Ingredients to Superstardom

4. The Power of Luck, the third ingredient.

5. Bowie Theory

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6. Price Discrimination is Profitable

7. Control Your Costs

8. Pain and Creativity

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9. Power Laws and the Pareto Principle

10. The Long Tail

11. Record Labels are like VC Funds — You’ve Got To Place Many Bets

12. Free Content with Paid Up-Sells

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13. Work with Undiscovered Talent

14. People Aren’t Motivated Purely By Self-Interest

15. “Coin is the time of your life” — Carl Sandburg

16. Freemium and in-app upgrades in the music industry.

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Chance the Rapper

17. The Power of Persistence

18. The Source of Creativity A

19. The Source of Creativity B

20. Outsourcing in the Music Industry

21. You’re Only as Strong as Your Weakest Link

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Mensch and Burnstein from Q Prime

22. Profit Seeking Can Destroy Creativity

23. The 1 Percent in Music

24. Cumulative Advantage and the Snowballing Effect

25. The Paradox of Choice in Music and our Social Networks

26. Watch Out For Survivorship Bias

27. Beware of Luck and Complacency

28. You Only Have So Much Control, Take Your Chances

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29. On Taking Ownership and Equality of Opportunity

30. Myriad Ways to Satisfy Supply and Demand

31. Buying Tickets From Scalpers

32. Artists and Their Labels

33. Technology Always Wins, But…

34. How Spotify Works with Talent

35. Copyright is Messy

36. Copyright and Creativity / Taxes and Innovation

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Questlove

37. Incentivising Creativity

38. The Home Bias for Music is Dissipating

39. Murky Waters Have All The Fish

40. Music Makes Us Happier

41. Men Form Their Adult Taste in Music Between 13 to 16 Years of Age

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Iron Maiden

42. Superstar Economies

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Written by

#Founder of @CollCampus and @LemonadeStandCC. @Future_Squared #Podcast host. #Author of #TimeRich and Employee to #Entrepreneur. Visit: steveglaveski.com #MEL

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