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The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
LeadershipTaylor Swift

Here’s why Taylor Swift wrote that Apple letter

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Claire Groden
Claire Groden
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By
Claire Groden
Claire Groden
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August 4, 2015, 2:03 PM ET
of 'One Chance' poses at the Guess Portrait Studio during 2013 Toronto International Film Festival on September 9, 2013 in Toronto, Canada.
of 'One Chance' poses at the Guess Portrait Studio during 2013 Toronto International Film Festival on September 9, 2013 in Toronto, Canada.Photograph by Larry Busacca — Getty Images
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Taylor Swift has revealed new details about her motivation behind her famous letter to Apple about streaming music. In the June letter, Swift called out Apple for its plan to not pay the writers, producers or artists behind the songs streamed on Apple Music during its three-month trial period.

“I wrote the letter at around four A.M.,” Swift told Vanity Fair. “Sometimes I’ll wake up in the middle of the night and I’ll write a song and I can’t sleep until I finish it, and it was like that with the letter.”

Swift said that she was nervous to post the letter online, especially after receiving negative feedback for an op-ed in the Wall Street Journal last summer that similarly advocated for fair compensation in the music industry. But Swift says she only ran the letter by one person before posting it: her mom.

 

The pop sensation also didn’t show the note to Scott Borchetta, the CEO of Big Machine Records who discovered and signed Swift more than 10 years ago. “She literally texted me and said, ‘Don’t be mad,’ with the link,” Borchetta said at Fortune’s Brainstorm Tech conference in Aspen. “She was in Europe. I responded and said, ‘You don’t have any idea how good your timing is right now.’” Borchetta had been complaining to Apple execs about the same issue.

The unplanned coordination worked: Apple responded to Swift’s letter within 24 hours, agreeing to pay royalties even in the trial period, though at a reduced rate. Swift compared her smooth interaction with Apple with her combative experience with Spotify, from where she pulled all but one of her songs in November 2014 in protest of what she and others argue are too-small royalties paid to artists.

“I found it really ironic that the multi-billion-dollar company reacted to criticism with humility, and the start-up with no cash flow reacted to criticism like a corporate machine,” Swift told Vanity Fair.

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