The allure of Silicon Valley is strong. Strong enough that Jusin Bieber, perhaps the most popular person on the planet, wants in on the technology/web game.
It’s an allure that most likely stems from the admiration many celebrities have for Steve Jobs and maybe even Mark Zuckerberg. How they’re able to create brands/companies that are useful and successful. It’s the desire to not only make money but make an impact on people’s lives. Bieber though seems like he’s making some smart choices, investing in what he knows:
Bieber’s tech savvy infuses more than his music—it’s also a core strategy for how the entertainer intends to translate all that fame and fast money into enduring riches. Instinctively, he embraces a Peter Lynch model of investing—“I’m not going to invest in something I don’t like; I have to believe in the product”—but rather than load up on buy-what-you-know value stocks, the singer has been quietly plowing millions into private tech startups. According to his manager, Bieber holds stakes in a dozen such companies. FORBES was able to verify four: messaging platform Tinychat, social-curation app Stamped, gaming outfit Sojo Studios and, most critically, Spotify, the disruptive music service founded by Daniel Ek and backed by everyone from Sean Parker to Li Ka-shing. (Forbes)
Spotify is of course another Sean Parker influenced production – Parker is perhaps most famous for his role in helping Mark Zuckerberg get the funding he needed to grow Facebook. The man really knows what he’s doing when it comes to building online businesses.