Indie Music And Indie Entrepreneurship
Is the “indie” spirit directly translatable to business? We traditionally think of business as stuffy, rigid, top-down and concerned with continuity over innovation. However, due to technological changes, shifts in attitudes and crowdfunding, some experts are noticing a relatively new kind of entrepreneurship that has been dubbed “indie capitalism.”
“Creativity drives capitalism. Creativity is the source of economic value. Creativity transforms what money can’t buy into what money can buy.”
Nussbaum notes that this philosophy and methodology borrows much from the “indie music” ethic. The DIY ideal is elevated and creativity is embraced in order to transform “what money can’t buy into what money can buy.”
Recent history has not been short on people with great ideas, tremendous creativity but limited access to capital and markets. Venture capital has traditionally been made up of a small, select world of people often united by academic or commercial ties, and the effort of demonstrating high ROI potential has been prohibitive for many startups.
Nussbaum does not only observe that “indie capitalism” has broken down the barriers to funding, it has also changed the nature of the transaction itself. With social media, user generated content sites and most importantly crowdfunding platforms, the distinctions are being blurred between curators, creators and financers. The funding platform also doubles as a way to procure an audience and can also be looked upon as a potential source of collaborators.
Ultimately, this phenomenon is still changing and growing so learn more about how it can transform our society and whether this untethering of creativity will generate value.