Link: Lefsetz' New Rules for the Music Industry

Lefsetz write a concise and illuminating list of the New Rules for the Music Industry. (Yes, I linked to him last week but this article was far too good to ignore)

My favorite point:

8. Social networking is for fans.
Twitter and Facebook are irrelevant until you get traction. They’re rallying points for those who already believe. Once you’ve got fans, feed them information about gigs and goings-on. Once you’ve got a plethora of true believers, tweet and post about your inner life. No one cares until you approach stardom.

Thoroughly worth the read.