Jay-Z and Jack Dorsey Want to Fix the Music Business. Can They?
Square moving into music makes a lot of sense. Buying Tidal? Not so much.
Two billionaires meet on a yacht. One is a bearded technology mogul who runs a microblogging website and payments company, while the other is a rapper turned multi-hyphenate entrepreneur. Together, they decide they are going to save thousands of starving artists by joining forces.
If this sounds like the start of a great movie, you’re in luck. We’re about to see it play out in real time. Square, the company led by Twitter co-founder Jack Dorsey, is buying Tidal, the music service led by rapper Jay-Z. Dorsey says he is buying Tidal to find new ways for artists to make money.