We’re big fans of Spotify. The company’s stock is held in both BizNews share portfolios – and we’re in the process of moving our podcasts over to Spotify-owned Megaphone. We’re also avid consumers of insights from its visionary founder and CEO Daniel Ek. Even more so after the past few days.
The Swedish-headquartered multinational was thrust into the spotlight after Neil Young and Joni Mitchell very publicly ditched the platform, encouraging other musicians to follow. Their beef is with podcaster Joe Rogan, who, they claim, is spreading disinformation about Covid-19, vaccines and benefits of ivermectin.
The piece by WSJ editorial board member Holman Jenkins is insightful. More relevant, however, is Spotify’s response. It stuck with the principle of free speech – unlike Facebook (now Meta) which is paying dearly for a self-righteous censorship policy (see link below – shares dropped 20% overnight).
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In supporting its podcasting superstar, it’s almost as though Ek and Co recalled the words of great scientist Charles Darwin (pic above) who wrote: “As far as I can judge, I am not apt to follow blindly the lead of other men. I have steadily endeavoured to keep my mind free so as to give up any hypothesis, however much beloved, as soon as the facts are shown to be opposed to it.”
More for you to read today:
- Facebook’s Stock Plunges After Profit Declines. Gloomy outlook startles investors as steep spending cuts into tech giant’s profits
- Stocks Extend Winning Streak to Four Sessions. Strong earnings report from Google parent Alphabet outweighs weak economic data
- Value Investing Is Back. But for How Long? A bounce in bond yields is good news for dividend payers
- PayPal Stock Tumbles After Disappointing Earnings Guidance. Payments company lowers its 2022 profit outlook and scraps an ambitious growth strategy it put in place last year
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