The Hustler’s Spirit: Why Musicians Make Great Investors.
When we think of great entrepreneurs we think of a young guy or girl turning nothing into something. The Mark Zuckerburgs, Elon Musks, Evan Spiegels, and Jack Dorseys of the world are usually who comes to mind when we think of successful entrepreneurs. However we never think of musicians.
There may be no other group of people in the world better at turning nothing into something than a professional musician. Almost out of thin air comes a chord, then a bar, then a verse and a chorus, and then hit song. It's no wonder that musicians make such great venture capitalist.
Graphic by Seville Report
From their time in the garage playing around with their instruments or the basement writing to beats, the goal is to be bigger. To construct that hit song, then another, then another, and transform that time writing in the basement into a successful career. This is the hustler's spirit.
This hustler's spirit can be found in any successful entrepreneur and it makes sense that when an artist like Bono gets introduced to Facebook in 2009 he see's the parallels to when he was starting out, and makes a sizable investment.
The rap God Nas started from humble beginnings growing up in New York's Queens Bridge Projects. His talent and hustle has taken him to GOAT status in rap music. Now as a venture capitalist he's been able to make winning investments after winning investment. His QBVP firm were early investors in smart doorbell/ security company Ring, which was later purchased by Amazon for $1 billion; and they were also early investors in Pillpack, which was also purchased by Amazon for $1 billion.
The list goes on and on, 50 Cent's investment in Glacéau Vitamin Water paid off big when Coca-Cola purchased Glacéau. Then there is Jay-Z's investment in Tidal, and Jared Leto's investment in Nest which also paid off big when Google purchased Nest, and these are just a few.
As fans we only see the video of the hit song, and the award ceremonies, and the IG pics with the models at what looks like the craziest party in history. What we don't see is the studio all nighters, the song rewrites, the scraping of an album and starting over, the rush to meet a deadline, the press and promo required, the overall hustle and sacrifice it takes to be successful in the music business. From our favorite tech startup, we also don't see the long nights of working on a business plan and marketing plan, the distribution plan, the all night programming sessions, the constant raising of capital, the rejection, and the ability to avoid, leap, and deal with the hurdles along the way.
To turn an ideal into something great takes real hustle and successful musicians have it. This is why artist like Bono, Nas, Jay-Z, and Jared Leto can make winning investments in startups, because they know the hustler's spirit when they see it.