My colleague Jason Mendelson and I recently did an angel investment in a startup record label. Jason & I play in two bands together (Soul Patch is the one with an album out and second one in the works due in mid 2006) and work together at Mobius. We recently had the good fortune to meet the guys behind About Records, George Daly and Dan Sapp.
In addition to being great musicians and super fun to hang out with over dinner and beers, these guys are also whip smart and disciplined businessmen with a compelling vision of how to go about building a record label in a capital efficient manner that comprehends the new realities of the record business (I love that anachronism) in the digital age. Finally, given my day job as a VC, the parallels between our portfolio-based and hits-based businesses really appeal to me. George & Dan, I’m looking forward to working with you both over the next several years and wish About Records the best of luck!