Why VCs are funding a concert business as a hedge against AI
Venture capitalists are investing in RASA, a concert and event production company, as a hedge against the increasing digitization of life caused by AI. The founders are leveraging their tech backgrounds to apply software-driven data analytics to the live event industry.
Why it matters
It illustrates a growing investment trend where 'real-world' experiences are being positioned as a premium counter-market to the rise of AI-driven digital environments.
Pier Play by RASA at the Santa Monica Pier earlier this year. Courtesy of RASA RASA is a concert business for and by tech people, hosting an festival this weekend in Santa Monica. It has raised more than $8 million from VCs who see IRL experiences as a hedge against AI. RASA's founder wants it to become the "Palantir" of the concert business. As most VCs pour billions into AI startups, a select few are making a counterbet on a traditionally low-tech business: Concerts. They figure the more life moves onto screens, the more valuable it will become to get people off them. "Real life experiences are the ultimate hedge against AI," said Paul Martino, managing partner at Bullpen Capital. "The place you're going to escape from AI is a concert."
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in