What Corporate America Can Learn from the Grateful Dead

By Cory Vanderpool | February 18th, 2010

"...While they sang about sunshine and daydreams, the Dead were no fools when it came to matters of finance. From incorporating the band, to forming a board of directors (recruited from band members and the crew, along with Deadheads), to stoking loyal customers by setting up a hotline to let fans in on the tour dates before they were published (the earliest Twitter feed?), the Dead showed striking business acumen, Green explains. They were rather prophetic, too, knowing they’d never be able to control their musical products–and so turning a blind eye to bootlegging–while understanding that selling merchandise and touring were the real money-makers.

“Much of the talk about ‘Internet business models’ presupposes that they are blindingly new and different,” wrote Green. “But the connection between the Internet and the Dead’s business model was made 15 years ago by the band’s lyricist, John Perry Barlow, who became an Internet guru.” In 1994, well before Chris Anderson made it a business buzz word, Barlow wrote in a Wired article that “the best way to raise demand for your product is to give it away.”" Sphere: Related Content