 This is an interesting story. Taylor Swift, to re-record songs after her music catalog, her masters, is sold for the second time to a private equity fund for $300 million. So if you guys haven't been following the story, I think roughly about a year ago or two years ago, as they say, her catalog was sold to Scooter Braun's private equity company for undisclosed amount. We just don't know. And so if it's resold right now for $300 million, I'm assuming he or they, the private equity company, at least 3x, 4x their initial investment. I don't think so they were selling for a double, maybe, but I don't see that. I'm not here to talk about the actual sale. What I want to talk about, there's a huge business lesson over here, because there's a lot of dilemma, or there's a lot of drama where Taylor Swift was saying, well, they stole my masters from me and I couldn't get ahold of it and Scooter Braun is a jerk and asshole. You get the gist of it. And so basically what she's doing right now, because of the second sale, is she's going to re-record all her old songs, because once you re-record it, these are brand new masters, which will dilute the value of her original masters, which this private equity company bought. So the reason why she's doing this is Shamrock's Holdings had bought 100% of her music videos album art for Braun. In a statement shared on Twitter and Instagram, which I'll bring up over here, I won't get into like crazy amounts of details, but we'll read a little bit. I wanted to check and update you guys. As you know, for the past year, I've been actively trying to regain ownership of my masters recording with the goal of mind my team attempted to enter the negotiation of Scooter Braun. Scooter's team wanted me to sign an NDA, almost every deal you get into whether it emerges acquisition deal, JV deals, for the most part there's some NDA involved. Anyways, the NDA didn't like, it was way too restrictive. She didn't want to sign it. After a few weeks, my team received a letter from a private equity company called Shamrock's Holdings, letting us know that they had bought 100% of my music videos and album art from Scooter Braun. This was the second time my music has been sold without my knowledge. Let's rewind a little bit. What's interesting over here is the first time the Scooter bought her masters is I had this question when I read about it because I was like, okay, let's take away these two individuals fighting each other, right? I always wonder, okay, and this is the example, this is the lesson I want to talk about this video is who are the people around you? And listen, Taylor Swift isn't dumb, highly intelligent woman to get where she is, highly talented individual. How could it be that her masters were sold without her consent? I don't think so. That's what happened. If we're using Occam's Razor, some common sense thinking, and if we look at the history of entertainment in general, I'll include sports in there as well. We have seen a common denominator pattern that usually artists are artists. They're not business savvy. It's really rare to have an amazing business avant and artists together like Extremely Rare. Maybe Taylor Swift is, I just don't know. But if we're looking at Occam's Razor and we're studying the past of the entertainment industry, what we see is a common denominator of you have way too many nefarious yes men and really, really unqualified people within your inner circle and in your camp. Taylor Swift is not, Taylor Swift has fucking money. It's not like she's broke. She's loaded. I think she's worth like $300 million. No, look, she's low. She's worth $365 million personally. So when I heard the first time that her masters were sold, I'm like, how is it that she couldn't buy her masters? And so I'm thinking there must be somebody in her camp. There must be kind of some yes people or no, or some kind of unqualified people that didn't guide her properly. And Scooter came in there and bought it. Taylor Swift could have easily worked with our other private equity company, a VC firm, anybody, there have been a million people fucking lining up to do business with her to own her masters. Think about that. Think about that. It's not like she didn't have the money to buy her original records. Okay. Something happened where she was given really bad advice, didn't act it on etc. Or didn't look at the fine print. This is a thing in entertainment. This goes to entrepreneurship and business in general. We like to rush into things and it's rare that we take our time to read through things. And because they make contracts almost in a foreign fucking language, which it is, it's hard to kind of decipher what is happening to you or what's going to happen to you once you sign the dotted line. Now we fast forward over here. And it's been sold a second time without her consent, which once again, I'm dumbfounded by it. I'm like, how is it? Like, so she was in negotiations and she didn't want to sign the NDA with Scooter's team. Then all of a sudden a random or a next private equity company called Shamrock's Holdings says, Hey, we bought it from Scooter for $300 million. Obviously, Scooter made some money. He flipped it. I'm assuming you leave three, four acts not a double flip, which is like interesting. Those masters are pretty cheap if you bought them for $50 million. I'm not too familiar with the industry when it comes to that, but I'm familiar with arbitrage for flipping for money. And then she's like, and this is where I get confused because happen once, happen again. This isn't the full story here, guys. There has to be somebody in her camp who's really, really giving her poor advice, or she signed some documents forbidding her to do something because it doesn't happen twice. You have the money. You have the money and not to be able to buy your masters again and for Scooter to come around and resell it or to flip it to this company. So there's two things here. Number one, Scooter probably was giving, Scooter was in negotiations with her for a quote and she probably didn't want to pay it or maybe didn't agree upon it, could be possibly it's negotiations. And basically somebody came around and said, Hey, we'll give you the asking price we want for it. So in this case, publicly known $300 million. We have no idea if it's three, you know, whether it's some IP deals on the side, some royalty deals, who knows, right? But $300 million publicly catched. I'm assuming catch deal. I just don't know. We don't know. But here's Taylor Swift again being pissed off. This to me has too many red flags. You obviously have money to buy your masters. Something else is going on that you're saying that you can't have your masters and and this is why she wants to re-record her masters because what happens is she's going to re-record all her old songs. So music, videos, etc, which devoid, I would say devoid, but dilutes the old masters. So the investment, the shamrock just made it $300 million will be diluted. Well, good for Taylor Swift. It's a business move. Do what you got to do. And that's why she's doing what she's doing. She's going to completely re-record, therefore creating new masters to dilute no different than creating more shares in a company dilute old investors. But it's, it's a weird story, but it's a great business lesson for you guys. Like if you're an entrepreneur or if you're in any type of industry where you got to go into a JV deal with somebody, or if you have a group of people around you that are constantly nodding their head and giving you poor advice, be cautious of people around you who don't have any skin in the game. Right. So I always bring up this quote and it seemed to leave has the best saying, the two greatest addictions in life is a salary in heroin and people will protect both till the end of time. And that's my, that's my thesis. I think she had these yes people and really poor counsel around her. And she wasn't really looking at who wasn't looking at her inner circle of trusted individuals to kind of get information from. And so this is a great lesson for you. If you're in business, who are the people around you? If you are trying to do JV deals with somebody else, who are the people in your circle advising you, consulting you, always audit the people around you or do these people have the best interest for me? Am I handling business? Am I looking at the contracts myself? Am I thinking in the future? Don't just sign blindly. Don't just hire blindly because somebody said this person's the best. So audit your inner circle. The reason why I brought up the entertainment industry, this has been going on forever. I mean, you look at Mike Tyson with Don King. You look at any of these like Hollywood, even lately with Johnny Depp wanting to sue his financial advisor because he's going broke. Like this is the thing where created people, they leave the finances, the contracts, the business in the hands of these, I call them salary vampires because at the end of the day, how did they make money? They have a salary and probably performance fee and they'll do whatever, whatever they can to keep the little cozy position and they fuck over the artist and fuck over the creator. So this is what I think happened to her. She got fucked over by her inner circle of yes people and she had real, real poor advice and scooter just did regular business. He paid for her original masters, which her team probably told her, oh, it's not worth that much money. We can get it here. We can go to court. Well, no, scooter bought it. And now the second time around, they're probably in some negotiation and teams like, oh, no, no, we're not going to pay $300 million. It's your masters, blah, blah, blah. Well, scooter sold it again and made money. And now she has to go back to the drawing board and this is her best defense. I say both defense and an offense towards this happen. It's, hey, fuck it. I'll dilute my masters by rerecording my original song. So this is a great lesson for everybody in business is really audit the people around you and really understand what's happening to your contracts and what's happening to you from a legal aspect because people will fuck you over. All right, guys, leave a comment below this video and I'll talk to you soon. Peace out.