Even PE Guys Can't Help the Music Biz

Pretty funny commentary from Bob Lefsetz:

You can’t fix a record label by hiring an Italian from Procter & Gamble.  That would be like hiring Bill Gates to run the Yankees.

You can’t run a label when no one knows who to call.  EMI is so decentralized, there are so few employees, that people who WANT to sign with the label are unsure who’s in charge.

You can’t run a successful record label when more people steal your main offering than pay for it and you’ve got such tiny market share that you can’t affect industry policy enough to try and rescue your bottom line.