I came in this morning and talked with David a little on the music industry. I asked him where he thought the opportunities laid, given the way the industry is now, and he thinks it lies in finding a great musical act and owning the rights to their music - so essentially, in publishing. One of the quotes he said was that "even turkeys fly in a strong wind," - so when the music industry was doing well, businesses that don't really do anything still make money. However, today, the music business isn't doing the greatest, so a "turkey" won't "fly."
I also asked him what he thought about entertainment law and Intellectual Property rights, as a friend of mine indicated that there is future growth in this area. He predicts that it's about the same as the rest of the industry. It will probably be another decade or so before the music industry picks up again, and that's if legislation is passed giving labels the right to crack down further on illegal downloads (by shutting down the cable's access to those sites, etc.). We'll see.
As much as this was a difficult thing to hear, it was good because it's the reality of the business.
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