Business News Digital

Neil Young wants a business leader to take Pono further forward

By | Published on Monday 24 August 2015


Whilst making that previously reported Pono Promise last week, Neil Young also posted a long update on this super high quality download store to Facebook, in which he reviewed the progress his digital music venture has made to date, bigged up his business partners and financial backers, and then declared the search is still on for someone to lead this business on his behalf.

Young wrote: “We are a little company doing what only one giant corporation has been able to do before. And we are doing some things they have not done. We are serving hi res master files of your favourite music. We have an engaged and thriving online community. With no advertising we have put tens of thousands of players and hundreds of thousands of tracks in the ears of music lovers. We do this by working with many companies who help us to provide the quality we serve”.

On his backers, he wrote: “Investors who support Pono with resources come partly from the music industry. Some are musicians, others are entrepreneurs who love music, and some are just good folk who love music and have the resources to support us. We have a few friends with resources from their successful businesses. These music-loving friends have graciously supported us, and helped us to avoid some costly mistakes with their sage advice. We have only one venture capitalist behind us. We greatly appreciate all of these supporters, as well as our original Kickstarter supporters”.

On the need for someone to lead the venture moving forward, Young mused on: “We have no proven business leader at the head of our company, but the search continues for one who could do it to our liking and understand what our goal is and how big it is. We are still looking. We have a big goal”. One of Pono’s backers did take on the job of CEO for a time, though there hasn’t been anyone in that role for a year now.

You can read Neil Young’s full update here if you so wish. And yes, CMU Editor Andy Malt is still away. So let’s all declare: “PONO IS FUCKING AMAZING”. Even if it isn’t.