
38 segments available
The Chainsmokers (Drew Taggart and Alex Pall) join Patrick O'Shaughnessy to discuss their evolution from DJs to global superstars to venture capitalists. They share insights on AI's impact on music creation, the creative process behind hits and how they built their early success through scrappy growth hacking tactics. The duo reveals their investment philosophy at Mantis, drawing parallels between artist development and startup building. They discuss the challenges of staying authentic while scaling, the importance of intentionality in art, and lessons learned from transitioning from music creators to investors. TIMESTAMPS: 00:00 Intro 06:16 The Creative Process Behind Songwriting 07:33 Exploring the Emotional Depths of Music 11:50 Navigating the Music Industry and AI 17:45 The Importance of World Building in Music 21:27 Finding Your Creative Itch 35:04 The Chainsmokers' Journey and Work Ethic 40:37 The Business Side of the Chainsmokers 45:43 Venturing into Tech and Investments 51:39 The Evolution of Mantis 53:11 Overcoming Celebrity Investor Stereotypes 55:20 Supporting Founders Like Record Labels 57:26 The Art of Collaboration 01:04:02 The Grind to Success 01:13:49 Investing Insights and Evolution 01:26:39 The Kindest Thing Anyone Has Ever Done for Drew and Alex #Chainsmokers #VentureCapital #MusicBusiness #AIMusic #CreativeProcess #Entrepreneur #investment #Music #Startup #Business Presented by Ramp: https://ramp.com/business-cards?utm_s Sponsored by AlphaSense and Ridgeline: https://www.alpha-sense.com/invest/ https://www.ridgelineapps.com/ ****** Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc
Exploring the challenges of innovation in music and the implications of AI on artists' work.
"invest in people that are going to do this idea no matter what. How do you innovate? It's a pretty like torturous pursuit. What were you trying to do with it? Why did you do it in the first place? It ..."
Discussing how technological advancements in music tools have democratized creativity and expression.
"I mean, I would argue this the same now. It will be worse in the future, but just lots of slop like it's just a larger volume of stuff that gets made every day. And I think like to Drew's point the 15..."
The importance of emotional resonance in songwriting and how personal experiences shape the creative process.
"Say a little bit more about the the nature of those feelings that you're trying to get yourself to feel by making something. I think that's quite a cool Well, if I could say it, I wouldn't need to mak..."
Discussing what success means in the context of the music industry and the impact of creative integrity on their art.
"and it's like I feel like you make a song like that, you're so excited about it to play it and to like be like, is this it? Is this gonna resonate, you know, with everybody? But like at the end of the..."
Examining the current landscape of art and music, questioning if we are in a golden age of creativity or facing challenges of originality.
"And so when you think about AI, like you can't be scared of it because it's just going to be it's just going to hit different for better or for worse at some point. And you know, we just got to focus ..."
Defining the concept of 'world building' and its relevance for modern artists in creating meaningful connections with their audience.
"Yeah, you can tell. What does world building mean? Just like define what that means. Uh just defining an aesthetic and a mood and an attitude that you can participate in when you listen to the music. ..."
Revealing the journey of discovering personal passions and the complexities of pursuing a creative career.
"And then when we finally, you know, started obviously really building the chain smokers and things started to work, it was like, oh my god, you know what I mean? This is the feeling that I've been lik..."
Reflecting on personal backgrounds and the evolution of their creative identities within the music industry.
"Uh I grew up in Maine and I later in life, you know, now I'm very thankful to have grown up in Maine. You know, I grew up in a small pretty liberal society that everyone kind of did everything, you kn..."
Exploring the complexities of continuous innovation in music and the pressure to meet audience expectations while remaining authentic.
"and I think it's a pretty like torturous pursuit. Um that drives me crazy a lot of time. We have, you know, I won't name names, but there are some artists in our genre and other genres that have just ..."
Reflecting on the nuanced relationship between artistic success, audience connection, and personal satisfaction in music.
"And part of me wants to just get out of my own way and just be like, "Fuck it." Like, I just have to make stuff that like there have been a couple records like we made this record called Don't Lie tha..."
Emphasizing the importance of authenticity and intentionality in a saturated music landscape to engage with audiences meaningfully.
"Is it just the quality of the work? I don't know. You know, I'm really confused about this part, especially in this day and age where I see artists that aren't us that have a different vibe or are fro..."
The significance of work ethic and personal interactions in defining their identity as artists and fostering connections with audiences.
"First of all, you have to want to do do that. We love to throw parties and we love to choose the music. Um and we love to curate the vibe and like that was why we became DJs pretty, you know, down the..."
Reflecting on the joy of connecting with fans and the significance of personal interactions in their artistic journey.
"I feel like I I mean I was like like I said earlier, not like not the you know most popular kid in high school, but not the worst either. And not the worst in the middle. But I think that's like my wh..."
Discussing the evolution of their artistic brand and the balance between creative freedom and business success.
"And if I think about Chain Smokers, Inc. like the the enterprise around the art, how has that what does it look like and how has it evolved? And this is maybe like a good bridge question into talking ..."
Reflecting on the challenges of managing their artistic vision alongside business ventures and investor relations.
"And I think just trying to build processes through both of them, both of those businesses that like we can do them in like I don't want to say effortless ways, but like the ones that are most um synce..."
Shifting focus from managing operations to embracing creative roles within their music career.
"And I think this is like relates to like probably a lot of like successful founders journeys is that they be like I was talking to you know founder of guy company who's crushing it right now. And he w..."
Discussing the inception of Mantis, their venture fund, and how it aligns with their artistic vision and experience.
"and it's been really it's been a great mirror investing in these other businesses and then kind of looking at our own and being like, how are we hitting these roadblocks or bottlenecks in our own Yeah..."
The conversation shifts to their experiences in promoting their music and how it mirrored the entrepreneurial strategies of tech founders.
"Um, you know, we like growth hacked our first promotional platform, crowdsourced our first tour. We've always been doing like the most to kind of like try and get our music out there. Um, and when we ..."
A reflection on initial investments and the lessons learned about the reality of venture capital.
"And you know initially for us that was like cool like I remember my business manager Josh was like basically you invest and you just like hopefully make a bunch of passive income. Oh that's s how sick..."
This segment explores the excitement and perspective gained through technology investing, aligning with their artistic vision.
"And so like that was a really nice blend of technology and forward thinking uh and messaging as and then as it relates to marketing and and distribution whereas I think a lot of like CPG is just distr..."
A discussion on the mindset required for investing, including taking risks and learning from failures.
"It turned out to be a lot I don't know I have no [ __ ] clue you know like like I just want to start and I think like a big part of anything is just start doing it that to me is like probably one of t..."
They reflect on the market potential for celebrity investments, turning negative perceptions into unique opportunities.
"It was like the opposite people were not stoked about it at all to me we saw that as like as much as it was like a hill we were going to have to climb a the bar was clearly low so it was like maybe we..."
They emphasize their commitment to supporting founders in a way that acknowledges each individual's unique journey.
"you know like each of those opportunities kind of like built or like paved the way for what hope hopefully more future success comes. I've been thinking a lot recently about how the relationship betwe..."
They elaborate on their approach to maximize productivity in songwriting sessions.
"You see some kind of like vision that your sounds could work together. Um or you have some like great idea around what this song could be together. Whatever. There's some basis for you guys doing a se..."
The speakers reflect on the significance of global collaborations in their music career.
"So it's like an opportunity for us to go and make something that like you know doesn't fit in the the typical Chain Smokers bucket. So yeah, I think it was I feel like we got that top line. It was lik..."
They discuss the connection they feel with other artists and how collaboration creates a shared journey.
"and I think that's like uh, you know a really interesting way to kind of like build a career and also give you fresh perspective about how you're approaching, you know, your process and your music. Cu..."
Reflecting on the early days of their careers and how those experiences set the stage for future successes.
"He like left his like, you know, he had a way of a comfortable job. Yeah. Um and my boss was like you're what it was like don't do this you can come back if when this doesn't work out you you know whi..."
They narrate their initial successes on Hype Machine and how it kickstarted their music career.
"They weren't didn't have a presence in dance music. A lot of like the DJs we just mentioned were remixing Rihanna, Lady Gaga, whatever was on the pop radio at that time. And we were like, well, we lov..."
They detail how they engineered their network through grassroots efforts and hands-on interaction.
"We got that took us out of, you know, DJing at Pink Elephant and all Great Times 2012 club scene in New York. But, um, you know, then we started we're doing colleges here and there and that kind of wa..."
The vital connection between passion and success in music and entrepreneurship is addressed.
"But usually like, you know, I'm sure if you talk to any like long-lasting successful CEO like or founder, they've like there's been moments where like they're like, 'Fuck, like my strategy is not work..."
Emphasizing the value of real experience over opportunistic investments.
"I mean, I was downloading off blogs before we even were I was, you know, learned to produce with Drew hundreds of songs a day, you know, that I would just like put in a folder cuz I just loved discove..."
The importance of gaining experience and learning from challenges in both music and business.
"What is most different between how you're investing today versus when you started Mantis? Like what's evolved the most in your style, your preferences, the process, the team like on the like practice ..."
They explore the patterns that successful startups follow and how to recognize those opportunities.
"And specific individuals within those funds more more so than the brand of the fund itself. Um, and and for us, like you kind of just know when there's like a really interesting, exciting founder."
Addressing the obstacle of navigating hype in investment opportunities while looking for true value.
"and I think that's what you have to learn through experience is like how do you see through all the noise and [ __ ] of like hype versus reality versus you know periods and you know it's like we've re..."
Discussing future directions for their investments and the approach they continue to take.
"And now that we're looking for bigger allocation, it's we're still having success, but it's a different conversation now where you you can't just be like, 'Yeah, we're going to put you know, nice to h..."
A reflection on pivotal life moments and the advice that shapes our paths.
"funny enough I think it's like the it was an unkind thing that she delivered the I had this uh whatever home room adviser in sixth grade named Mrs. park who was like I think she liked me but I think s..."
Sharing insights on the impact of losing a father during a turbulent family phase.
"Did you feel like when your dad passed away at a young age like like it snapped you awake in in some way? It was really tough. I mean my parents you know I love my mom she's still around. She's amazin..."
Discovering the heartfelt support from a mother through music during childhood.
"What's What's your answer for the kindest thing? The one that's coming up for me is uh my mom buying me a drum kit when I was 5 years old. Do you know what it's like to buy a drum kit for a 5-year-old..."