Deadmau5 Just Offered to Buy SFX From Robert Sillerman
In the wake of corporate EDM conglomerate SFX filing for bankruptcy, Deadmau5 has an offer to help out disgraced CEO Robert Sillerman.
Obviously Joel isn't making a serious offer, but with SFX's market cap currently sitting around $5.4 million, his offer of $14 isn't totally ridiculous. More importantly, he's taking some serious and valid shots at Robert Sillerman, a CEO who by his own admission, knew nothing about the culture of dance music when he began his play to take over a huge share of the EDM market.
Though this is just some classic Deadmau5 snark, it actually brings up a significant point. Huge amounts of Wall Street money are obviously not a sure path to success in the world of dance music - especially when the person leading is a CEO who knows nothing about the culture, and sees it only as a way to make profit. It's hard to imagine any artist functioning as a CEO of a company like SFX, but maybe the concept of artist ownership shouldn't be so foreign. Of course a single artist couldn't fill the role of CEO and still have time to tour and make music. But if a group of major artists each had a significant share of ownership in a company, it might create a company that would accurately reflect the culture of the scene - rather than simply reflecting the greed of Wall Street investors.