Podcast Summary
From Broke Rapper to Pop Star Manager: Empathy, strong company culture, and providing value to customers are key to building a successful business, even without family connections, money, or formal training.
Building a successful business often requires taking risks, overcoming challenges, and having a clear vision for the future. This was exemplified in the story of Troy Carter, who went from being a broke rapper to launching the career of pop superstar Lady Gaga. When Carter met Lady Gaga, he saw her potential and built a company around her, despite having no family connections, money, or formal training. Similarly, companies like Amica and Insparity emphasize the importance of empathy, strong company culture, and providing value to their customers. Wondery Plus subscribers can listen to the full story of Troy Carter's journey, as well as other inspiring business stories, ad-free and early. For those traveling for work, the Delta Sky Miles Platinum Business American Express Card can help make business travel more enjoyable and rewarding. And for businesses looking to grow, Insparity offers HR solutions to help build a strong company culture and attract top talent.
Young men from Philly chase music industry dreams: Persistence and determination led two young men to establish industry connections and eventually land jobs in the music industry, but they learned the importance of responsibility after being fired.
Determination and persistence paid off for these young men from Philadelphia who dreamed of making it in the music industry. They jumped fences, waited outside recording studios, and played their demo tape for Will Smith in the snow. Despite their initial failure and lack of funds, they established relationships with industry professionals like James Lasseter, who became their mentors. Through hard work and dedication, they eventually moved to LA and landed jobs within Will and James's production company. However, their success came with a price as they learned the importance of responsibility and accountability when they were fired for misusing company resources.
From setbacks to success: A story of resilience and determination: Despite unexpected challenges, resilience and determination can lead to success. Instincts and the ability to read people and situations are valuable skills in business.
Even when faced with unexpected setbacks and challenges, resilience and determination can lead to success. The speaker, who was once a struggling executive, was kicked out of his job in LA and returned to Philadelphia to help run a small management company. There, he met and managed the rapper Eve, with whom he built a successful career. Despite his inexperience, he instinctively protected her and learned as he went along, eventually becoming the CEO of Eve, Inc. His natural instincts and ability to read people and situations proved valuable in negotiations. Through hard work and perseverance, he turned a challenging situation into a prosperous business, demonstrating that one can turn setbacks into opportunities.
Considering the long-term implications of business deals: Following your dreams can lead to success, but thorough research and long-term implications are crucial before making significant business decisions.
Following your dreams can lead to great success, but it's important to consider the potential downsides and do thorough research before making significant business decisions. The interviewee, a former music manager, shared his experience of building and selling his management company, Irving Wonder, in Philadelphia. He was ecstatic about helping artists achieve their dreams and living the ghetto rich lifestyle. However, the business lacked sophistication, and when offered a large sum of money from a UK company, Sanctuary Group, he sold without proper due diligence. Although initially thrilled, he soon grew to dislike working for Sanctuary due to red flags he had ignored during the negotiations. He lasted only a couple of years before considering buying the company back. This experience highlights the importance of considering the long-term implications of business deals and not being blinded by short-term gains.
Ignoring financial implications can lead to hardships: Underestimating financial risks in business and personal relationships can result in significant financial losses and personal hardships.
Underestimating the financial implications of business decisions and personal relationships can lead to significant financial hardships. The speaker, who had a successful business and a close partnership with a prominent artist, invested heavily into a new business and lost it all when the artist decided to leave and sign with a different manager. The financial strain extended to the speaker's personal life, leading to difficult decisions and a period of great hardship. This experience served as a reminder of the importance of careful financial planning and the potential consequences of relying too heavily on the success of a single client or partnership.
The Power of Hard Work and Resilience: Hard work and resilience instilled by loved ones can help individuals overcome financial struggles and achieve success. Determination and grit, as demonstrated by Troy Carter's story, can lead to great achievements.
Resilience and hard work, instilled by loved ones, can help individuals overcome financial struggles and achieve success. Troy Carter, a music industry executive, shared his story of growing up poor with his mother's strong work ethic shaping his DNA. He worked hard to make his mom proud and carry that same determination into his relationships and career. A pivotal moment came when Carter met Lady Gaga through a friend, leading him to become her manager and build her career. Success doesn't come easily, and companies like Atlassian, with their AI-powered teamwork tools, understand the importance of collaboration and grit to make impossible tasks a reality. Carter's story serves as a reminder that hard work, determination, and the support of loved ones can lead to great achievements.
Believing in an artist's potential and utilizing new tools: Perseverance and innovation can help turn low points into success stories. Believe in artists' potential and use new tools to reach audiences, even in the face of adversity.
Perseverance and innovation can turn a low point in life into a successful career. Troy Carter, a struggling manager, took a chance on an unknown artist named Lady Gaga when she was at her lowest point. Despite financial struggles and rejection from record labels, they worked tirelessly on her music and utilized emerging social media platforms to build a following. Their determination paid off as Lady Gaga's unique artistry resonated with niche audiences around the world, eventually leading to global success. This story highlights the importance of believing in an artist's potential and utilizing new tools to reach audiences, even when faced with adversity.
Lady Gaga's resourceful early career journey: With a shoestring budget, Lady Gaga and her team reinvested every dollar made back into her music and performances, leading to a growing buzz and eventual fame
Lady Gaga's early career was a risky and resourceful journey fueled by her determination and lack of a backup plan. With a shoestring budget, she and her team bootstrapped her career, reinvesting every dollar made back into her music and performances. A defining moment came when fans slept outside the Wiltern Theater in LA to attend her show, demonstrating the growing buzz around her music. The experience took her team to new heights, both personally and professionally, as they witnessed her rise to fame and played a role in it. The journey was filled with uncertainty, but their unwavering belief in Gaga paid off, leading to incredible experiences and accomplishments.
From managing Lady Gaga to tech investing, Carter's career is marked by passion and resilience: Carter's career evolved from managing artists to tech investing, demonstrating resilience after Lady Gaga's departure and investing in successful startups like Uber, Warby Parker, and Spotify.
Troy Carter's career has been marked by a relentless pursuit of passion and investment in both people and ideas. Starting from managing Lady Gaga and founding Coalition Media Group, to experiencing setbacks and eventually transitioning into tech investing, Carter's career trajectory has been defined by his all-in approach. A particularly poignant moment was when Lady Gaga decided to leave Coalition Media Group. Instead of being consumed by the experience, Carter learned to weather the storm and move on, respecting her decision while remaining proud of their shared accomplishments. His investment in tech startups like Uber, Warby Parker, and Spotify further solidified his legacy as a trailblazer in the intersection of content and technology. Despite his financial success, Carter's past experiences have instilled in him a deep appreciation for the value of hard work and resilience.
The importance of confidence and feeling a sense of belonging: Confidence and belonging are essential for personal growth and success. Everyone has unique experiences and valuable perspectives to offer, regardless of past experiences or credentials.
Confidence and feeling a sense of belonging, regardless of credentials or past experiences, are crucial for personal growth and success. Troy Carter, the founder of Atom Factory, shared his experiences of dealing with financial PTSD and the importance of focusing on doing what he loves every day. He also spoke about feeling small and unimportant in his early years but how a teacher's encouragement made him feel special and confident. Carter's unique perspective and experiences have helped him manage stars like Lady Gaga, John Legend, and Megan Trainor, among others. He emphasized the importance of being confident in one's abilities and point of view, even in the face of intimidating situations or people with more credentials. Carter's story is a reminder that everyone has something valuable to offer, and feeling a sense of belonging and confidence can lead to remarkable achievements.
Turning a frustration into a solution: Identifying a common problem and creating a simple solution can lead to a successful app. Persistence in marketing and promotion is crucial for gaining traction.
Identifying a common frustration and turning it into a solution can lead to the creation of a successful app. Robin Gerber, inspired by her father's low-tech parking solution, created an app called Parcar to help drivers share information about available parking spots. The app, which allows users to find and reserve parking spaces, has gained over 16,000 users in New York City since its launch in 2016. Gerber's persistence in promoting the app, through a music video and flyers, helped it gain traction. Despite its success, Gerber continues to keep her day job at a bank while growing Parcar as a side hustle. This story illustrates the potential for turning a simple idea into a thriving business, and the importance of perseverance in marketing and promoting the product.
Reality TV's Morally Questionable Experiment: The Swan: The Swan showcased the dark side of reality TV with its extreme makeovers, isolation, and emotional manipulation, serving as a cautionary tale on ethical entertainment considerations.
The 2000s saw a surge in controversial reality TV shows, with The Swan being a prime example. This program promised a dream opportunity for women to undergo physical transformations and compete in a beauty pageant. However, it quickly turned into a viewing nightmare. Contestants were isolated for weeks, berated, and underwent extensive surgeries. The outcome was a morally questionable and horrifying concept that left viewers and critics alike baffled. It serves as a reminder of the importance of ethical considerations in entertainment and the potential consequences of pushing boundaries too far. Listen to The Big Flop podcast on Wondery or wherever you get your podcasts for more insight into this and other pop culture fails.
