Russ: This is The BusinessMakers Show, heard here and online at thebusinessmakers.com. And now it's time for the AFLAC Businessmakers Flashback brought to you by AFLAC. Ask about it at work. And for this morning's flashback, we're going to roll back just to Wednesday of this week when we launched our brand new mid-week podcast called BusinessMakers Overtime hosted by the very happening duet of Katie Laird and Esther Steinfeld. To hear the whole show, go to thebusinessmakers.com and check out Overtime. We're going to enter the discussion from Wednesday's overtime show where Esther and Katie were reviewing last Saturday's BusinessMakers Show. Check this out:

Katie: So John and Russ also got to touch on the birthday of a very special and beloved man, Mr. Mick Jagger himself.

Esther: Oh, happy birthday.

Katie: Happy birthday, Mick. I hope you got all sorts of pairs of tight, tight pants, you cute little man. So I mean it's pretty interesting to think – I mean, first of all, I don't how the man is still standing, let alone going on world tours. I mean, yeah –

Esther: He's got some energy.

Katie: Or something. But I'm mean it's pretty interesting thinking about what a different world it was, I mean, when the Rolling Stones were really getting their act together and hitting it big.

Esther: Music in general...

Katie: Honestly.

Esther: ...changed a lot. I actually read a very interesting article recently about the fate of the music industry as a whole. And the music industry, like every industry, heavily relies on venture capital.

Katie: Money.

Esther: Money. Gotta have money to do these things.

Katie: Money, money, money.

Esther: And one of the reasons that the music industry might be a little behind on innovation is because the venture capitalists have moved their capital to social media and to the internet in general. A lot of venture capital has gone into Twitter apps, Facebook apps, i-Phone apps, developing these new technologies when some of our most beloved industries are seemingly being left in the dust. I mean we want to make sure that music survives and I found it very interesting that the article focused a lot on MySpace because MySpace has been a haven for the music industry.

Katie: Absolutely. And really, I mean MySpace to me is if you're a musician, that's I think the only time you really need to use MySpace unless you're thirteen or a porn star.

Esther: I agree.

Katie: So I mean it is a wonderful, wonderful space to get your name out there.

Esther: It really is and a lot of careers have been launched that way and a lot of people have been able to get their music to their fans for free.

Katie: Exactly.

Esther: That's the beauty of it is it's free. You don't have a fancy record contract. You don't have to have a lot of money to put your music there.

Katie: Well and you get to have complete creative control. I mean, nobody's telling you that you need to sound more poppy or, you know, "Why aren't you more like Jessica Simpson?" You know, I mean, you get to be your crazy, hardcore, grungy, whatever self and still reach an audience of millions and millions. I mean, if you do it correctly.

Esther: Exactly. And I think that we'll see MySpace move even more towards a music focus. Because as they lose ground in the social media community for everyone, Facebook has basically surpassed them, I think in the last few months, they've completely surpassed them as far as members and then obviously a lot more people are using Facebook to communicate with each other these days.

Katie: Absolutely.

Esther: So, we'll see more people using MySpace but in a different capacity, more for music.

Katie: I like that. And it's interesting because these musicians have gotten pretty creative with some other revenue models of music sharing online. I mean you have websites like Amiest, A-M-I-E-S-T.com, that make it really easy for people to buy tracks for really nothing, like less than a dollar, sometimes less than 50 cents. But like the traffic that this particular site's getting, it is a phenomenal way to again launch your career. You know, it's kind of a different field than MySpace for sure and they're making at least a little bit of money.

Esther: But this really speaks to the way it used to happen where you absolutely had to have a record deal and you went to Barry Gordy and you begged him, "Please give me a record deal. Please let me make an album." Or you went to the head of a studio or an executive and you begged them, "Please let me make an album." Or you were discovered and you made an album. But today, all you need is a computer, some microphones and a little studio. You can basically make your own album and if you can get it on MySpace and people like it, you can develop a following.

Katie: Definitely. There are some cheesy marketing gimmicks or be ridiculously attractive. I'm just saying it helps (laughter).

Esther: Oh, it does. It absolutely helps. It does, Katie. Give me a guitar pick. Wooh!

Katie: That's right. Well, and it's interesting to also think back to another oldie, no offense Mick Jagger, looking at the Grateful Dead. I mean, they really turned the music industry decades ago on its head by letting people record their concerts and, you know, share the love, share the music. So instead, we saw them making the majority of their revenue, you know, either off of merch or by actually putting on one heck of an amazing show. So it's like, their like forget about album sales. We love what we do and we're going to connect in a completely different way and monetize it that way.

Esther: Which they did although they didn't have very many big hits because they didn't sell as many albums as some of their competitors did.

Katie: It's true but they're still amazing. Jerry Garcia –

Esther: They are. We love the Dead.

Katie: Absolutely. And definitely a favorite, Ben and Jerry flavor ice cream Cherry Garcia. Just saying.

Esther: Great flavor. Not as good as some of the other flavors. Half baked.

Katie: Oh, okay. See, we're going full circle. Back to the pot smoking. Way to go Russ and John. What have you started?

Russ: And that wraps up our review of Wednesday's Overtime show and that also concludes this morning's AFLAC BusinessMakers Flashback brought to you by AFLAC. Ask about it at work. Stay turned in for the interview with Jimmy Jonegbloed, founder and CEO of Gripping Eyewear. You're listening to The BusinessMaker's Show heard here and online at thebusinessmakers.com.