"The record business was perfect. And I want to tell you why"

One of the smartest people I know (I don't really 'know' him, just 'know of' him, but he is smart) gave a fantastic talk to some music executives about the future of the music industry and the Internet. Very honest, intelligent insight about what the music industry needs to do. He was kind enough to post a rough transcript on his site. His name is Seth Godin.

He starts by telling them why they had a perfect business. Then he tells them why it isn't perfect anymore - and how to fix it. The talk rambles in spots, but hey - if you were invited to speak truth to the power that is the music industry, I think you might ramble a little too. But the concepts are brilliant.

"..... not one magazine, several magazine devoted to promoting the product you sell. Again, no magazines about coffee, plenty of magazines about music. And, a whole cable TV channel about it. Lets see if I understand this. Everyone else has to buy TV commercials, you guys get your own channel...and you’re allowed to put scantily clad women on it. (laughter) This is amazing."