Free markets work the problem is that in the real world they rarely exist. That's basic economics, which for some reason is constantly forgotten when people try to explain things as being a result of 'the free market'. supply and demand clearly determining prices/wages doesn't apply when there are producers/sellers/buyers in the market with market power. They took advantage of a new medium that wasn't subject to previous royalty agreements and constructed a royalty regime that is to their benefit and essentially is a wealth transfer from to them from performers and songwriters, relative to historic arrangements in the industry. The small amount artists receive from streaming is a direct result of the market power of the record labels. Having the backing of a label is not the same as self producing and hoping people find you on Youtube and Bandcamp. Streaming is giving the power back to them, as they also own the streaming companies.

Yes, the Internet has reduced the power of the big players a bit. Lots of barriers to entry, several large players who are bottlenecks at various points and have monopoly/cartel like control of parts of the market. In real life, there are very few actual 'free markets', if any at all. The amount people are willing to spend on music simply isn't enough to pay all the artists. This event is open to current Stanford GSB community members - students, faculty, and staff - and invited guests by registration only.The problem with artist compensation isn't that people pay too little for music, it's that there are too many musicians. This design-driven approach has enabled a system of trust that allows strangers to live together, and created a unique business model that facilitates connection and belonging.

Since then, Brian has overseen Airbnb’s growth to become a community of over four million Hosts who have welcomed more than 1 billion guests across 220+ countries and regions.Ī graduate of the Rhode Island School of Design, Brian has embedded his creative roots in Airbnb’s culture, product, and community.

In 2007, Brian and Joe Gebbia became Airbnb’s first Hosts. Speakerīrian Chesky is the cofounder and CEO of Airbnb and sets the vision and strategy for the company. View From The Top is the dean’s premier speaker series where students interview well-respected leaders from around the world who share insights on effective leadership, their personal core values, and lessons learned throughout their career.