Photo courtesy of Gazette Review
Business 19 August 2017
Sure hip-hop titans Nas and Jay-Z are known for being two of the best hip-hop artists of all time, but what many people don’t know is that the two kings of New York are also making major moves as venture capitalists; Nas with QueensBridge Venture Partners, while Jay-Z of course has the ever growing Roc Nation, and the recently launched ARRIVE.
Jay Z. Photo courtesy of Radio.com
While most hip-hop entrepreneurs are investing in the usual money makers like apparel and alcoholic beverages, both Nas and Jay-Z are setting precedent within the hip-hop community by investing in startups, focusing on technology, thinking outside of the box, and not being afraid to take calculated risks.
Although your pockets may not yet be as deep as Nasir Jones’s and Shawn Carter’s, here are three pointers to keep in mind once you are ready to start investing those big bucks that you’ve been working so hard at earning.
1. Invest in Startups
The National Venture Capital Association reports that almost $60 billion were deployed to startup companies in 2015. No wonder both Jay-Z and Nas are becoming two of music’s most lucrative angel investors. Using artificial intelligence and big data for music production, LANDR is one of Nas and QueensBridge Venture Partner’s latest investments. YUL Ventures, Warner Music Group, and a host of other firms are also investing in LANDR, which is used to help over 300,000 musicians master their music in the post-production phase.
As for Jay, he believes in startups so much that in March of this year his entertainment company Roc Nation launched ARRIVE, a venture capital firm that will offer a variety of services to early stage startup companies. According to a press release released by Roc Nation, the venture capital firm will help startups with everything from business development to brand services. “We’ve opened that diversified, global range of expertise to a new vertical: entrepreneurs and their early stage businesses,” said Neil Sirni, Roc Nation’s Head of New Ventures.
2. Technology Is The Way To Go
One visit to Nas’s QueensBridge Venture Partners website and it’s pretty clear to see that his firm is all about staying on the cutting edge of technology. The website reads: “Over 100 years of experience operating at the intersection of technology, financial markets and popular culture.”
According to reports by KPMG Enterprise and CB Insights, although there is a downturn in the market, now is the perfect time to invest in technology. In 2015 alone there was more than $128 billion invested in tech companies worldwide (CNBC). It makes perfect sense then that both Jay-Z and Nas would get in on some of these investments. Jay-Z was one of the early investors in the now multi-billion dollar company Uber when it was worth 300 million, and Nas’s QueensBridge Venture Partners has invested in Lyft and Dropbox among many other tech related companies.
Nas. Photo courtesy of All-American Entertainment
3. Think Outside of The Box and Take Risks
When Jay-Z couldn’t get a record label to sign him he partnered with two friends and created his own record label. While Nas’s rise to meteoric heights was a bit different, his ability to bet on himself and take risks throughout his career has been very similar. Nas has never been one to rely on a pop single to take his albums to the top of the charts. Throughout his career, the subject matter of his rhymes and his unwavering ability to be his authentic self in his music, have continued to place him in a class of his own. In short, he’s always chosen the road less traveled and has earned the respect of the hip-hop community and music world at large because of it. Not to mention, the Queensbridge rapper dropped out of school before reaching the 9th grade so that he could pursue a career in music.
Needless to say, when it comes to thinking outside of the box and taking risks, Jay and Nas have been doing it for the length of their careers, which have spanned more than two decades. In terms of their business investments, they are following a similar playbook by investing in everything from health care to private jets, and even socks.
Although Jay-Z’s investment in private jet company BlackJet proved to be unsuccessful, it didn’t stop him from investing in another Uber-like private jet service, JetSmarter just a few years later. But this hasn’t been his only risky business move. In 2011, Jay-Z’s Roc Nation imprint invested in premium sock company, Stance. Never quite making it to household name status, Jay’s foray into the sock industry was definitely not a guaranteed come up. One year later he invested in Viddy, which was supposed to be the “Instagram of video”. The company was shut down in December of 2014, and sold to Fullscreen for $20 million. Even though Jay may have made some money off of that investment, it is not flaunted as one of his better business moves.
Then there’s Tidal. While some people may consider Jay-Z’s investment in the music streaming service as his biggest blunder, others see it as a testament to Mr. Carter’s confidence. Back in 2015, Jay partnered with a group of musicians to purchase Aspiro AB, Tidal’s parent company, for $56 million. According to the Wall Street Journal, that same year Aspiro AB reported a net loss of $28 million.
Sure his stake in Tidal with streaming services like Apple Music and Spotify already existing was a dangerous move, but as they often say in the streets where Jay and Nas were groomed, “scared money don’t make money.” Despite still lagging behind streaming services like Spotify, it seems as if Jay has no plans of slowing down with Tidal anytime soon. His latest album, “4:44”, which went platinum in a cool five days, is the fastest album to go platinum in 2017, and was released exclusively on Tidal. Not to mention Sprint recently purchased 33 percent of the music streaming service. However, the fact still remains, Tidal has around 3 M subscribers while Spotify has upwards of 40 M paying subscribers. But we’re sure Jay’s not worried about it. We’re pretty confident him and Nas are somewhere plotting on the next big thing to throw their millions into as we speak.
Nas and Jay Z. Photo courtesy of The Source
It is one thing to read and another thing to understand what you are reading. Not only do you want to understand, but also remember what you've read. Otherwise, we can safely say that if we're not gaining anything from what we read, then it's a big waste of time.
Whatever you read, there are ways to do so in a more effective manner to help you understand better. Whether you are reading by choice, for an upcoming test, or work-related material, here are a few ways to help you improve your reading skills and retain that information.
Read with a Purpose
Never has there been a shortage of great books. So, someone recommended a great cookbook for you. You start going through it, but your mind is wandering. This doesn't mean the cookbook was an awful recommendation, but it does mean it doesn't suit nor fulfill your current needs or curiosity.
Maybe your purpose is more about launching a business. Maybe you're a busy mom and can't keep office hours, but there's something you can do from home to help bring in more money, so you want information about that. At that point, you won't benefit from a cookbook, but you could gain a lot of insight and find details here on how-to books about working from home. During this unprecedented year, millions have had to make the transition to work from home, and millions more are deciding to do that. Either way, it's not a transition that comes automatically or easily, but reading about it will inform you about what working from home entails.
When you pre-read it primes your brain when it's time to go over the full text. We pre-read by going over the subheadings, for instance, the table of contents, and skimming through some pages. This is especially useful when you have formal types of academic books. Pre-reading is a sort of warm-up exercise for your brain. It prepares your brain for the rest of the information that will come about and allows your brain to be better able to pick the most essential pieces of information you need from your chosen text.
Highlighting essential sentences or paragraphs is extremely helpful for retaining information. The problem, however, with highlighting is that we wind up highlighting way too much. This happens because we tend to highlight before we begin to understand. Before your pages become a neon of colored highlights, make sure that you only highlight what is essential to improve your understanding and not highlight the whole page.
You might think there have been no new ways to read, but even the ancient skill of reading comes up with innovative ways; enter speed reading. The standard slow process shouldn't affect your understanding, but it does kill your enthusiasm. The average adult goes through around 200 to 250 words per minute. A college student can read around 450 words, while a professor averages about 650 words per minute, to mention a few examples. The average speed reader can manage 1,500 words; quite a difference! Of course, the argument arises between quality and quantity. For avid readers, they want both quantity and quality, which leads us to the next point.
Life is too short to expect to gain knowledge from just one type of genre. Some basic outcomes of reading are to expand your mind, perceive situations and events differently, expose yourself to other viewpoints, and more. If you only stick to one author and one type of material, you are missing out on a great opportunity to learn new things.
Having said that, if there's a book you are simply not enjoying, remember that life is also too short to continue reading it. Simply, close it, put it away and maybe give it another go later on, or give it away. There is no shame or guilt in not liking a book; even if it's from a favorite author. It's pretty much clear that you won't gain anything from a book that you don't even enjoy, let alone expect to learn something from it.
If you're able to summarize what you have read, then you have understood. When you summarize, you are bringing up all the major points that enhance your understanding. You can easily do so chapter by chapter.
Take a good look at your life and what's going on in it. Accordingly, you'll choose the material that is much more suitable for your situation and circumstances. When you read a piece of information that you find beneficial, look for a way to apply it to your life. Knowledge for the sake of knowledge isn't all that beneficial. But the application of knowledge from a helpful book is what will help you and make your life more interesting and more meaningful.