Creator investor Sam Lessin on why you might consider signing a $3 million deal with Slow Ventures’ creator fund:
— clip duration: 10 min, 20 sec | unmute to hear
A 360 deal… for creators?
Run.
I recommend that creators yeet from any offer that can be so closely compared to what is, at this point, practically a meme for a nightmare deal ▶️ — the infamous 360.
Ask most any experienced artist what you should do when a record company offers you a 360 deal. (Answer: Run. ▶️)
It’s the definition of telling when your financing scheme doesn’t pass the sniff test with even your close friends and family. Sam’s More or Less podcast co-host crew consists of two married couples, all friends for years — here are excerpts of how that went:
Dave:
I mean, Brit… would this have been a deal that you took? — @ 47:25
Brit:
I mean, I don’t think you’re doing this, Sam. Or, you’re— I mean, kind of you are, I guess— but, um, like, owning someone’s digital identity is sort of very strange to me. — @ 47:31
Dave:
Sam, is this similar to what record companies would do with A&R and, sort of— musicians in the past? — @ 50:28
Sam:
…we’re like,
- ‘Look. It’s a 360 deal, we obviously are aligned and want to help you, but do not take our money because of our “help.” Like, we’re not a service provider. We are money.’
Right?
So, it’s a very straight, simple trade that, like, we feel is a lot cleaner for everyone. ‘Cause like, everyone knows what they’re getting, everyone’s keeping it simple, we’re giving you cash. That’s it. — @ 50:41
As a creator, It has never been easier to bootstrap new products and brands you want to develop.
You don’t need outside money, and I’d (strongly) argue you don’t want it.
— Tang
