Akon: Building an Empire, Funding Africa, and Why 'I Am the Fund' Changes Everything | EYL

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7:01Loan subject to approval in available locations. If your best finance people are doing expense reports, chasing receipts, or spending time on month-end close, it's time to get Brex AF, a Gentic finance that eliminates that work before it starts. Learn more at brex.com slash AF. Everybody, when they sign in the contract for the first time, it's the best thing that ever happened to them. It's only a bad contract later when you're making money. When I invest, I'm investing so I can raise my value to get more money. Whereas them, they're investing to make the money back plus interest. I'm not thinking like a hedge fund.

7:33I'm thinking like I am the fund. I might not sell a bunch of records anymore, but if I can get billions of views on Instagram and TikTok, is that something that musicians are starting to look at? That's what I'm looking at. And you should because those are the active users that's constantly checking for that record, constantly playing that record, repeating it and sharing it. As far as Africa, what do you think the biggest hurdle is? The outside world coming in. If you go into an environment where people don't got, you can just bribe. They got to survive. So they're going to accept it. Africa got to be willing to die for it.

8:00That's the only way it works. That's an ultimate opportunity for anybody to go in and really like whatever you're doing here. And you do it there, your money, your value, all that's going to triple, quadruple, like literally within a year. At what point are you thinking I got to build catalog? That was always the case. Just make timeless music. People are selling their catalog. Is that something that you're considering? My catalog is so big. There's pieces that I'm creating specifically just to be able to gain value and then sell it later. How do you feel about the direction that African music is headed in?

8:27The fact that it's even mainstream, to me, is enough for it. But what I am afraid of is the idea that that is the only way out. All right, guys. Welcome back. We got a special guest, my brother Akon. What's going on, man? Man, this is a special day. Boys, since I seen y 'all last, bro, I can't begin to express how proud I am of y 'all advancement, man. Appreciate that, man. Appreciate that, man. Hey, bro, this is amazing. We've seen each other all over the world. Right. Last interview, we were in a hangar, which was Illmatic. And here we are today, man. Man, this is amazing. I appreciate it, man.

9:07Before we start, I got to ask you, man, is Senegal giving back that trophy? Man, that's highly controversial. It's highly controversial, 100%. And we all, as a family in Senegal, all spoke about it. Like, we know we're the champions. I'm with y 'all. I mean, if you want the cup, we'll give it back to you. But you know, like, you know what I'm saying? It actually looks worse, us giving it back to you. Like, the person that has to receive it. Hakimi said they don't deserve it. I respect what he said. You heard what he said? Uh-uh. He said that they don't deserve it. He said we lost. Like, we shouldn't be getting a trophy like we lost.

9:44Right. And he was there. You watched that lot. I was there from top to bottom. I almost jumped out the stairs myself I don't think people got to understand it to see you in Africa and watch the reception like we were at the semifinal game and you went on the screen and it was like I'm like what's going on everybody's wrong I'm like O 'Connor on the screen okay man I wish y 'all was I knew y 'all was there like oh man yeah you know but I was just happy that y 'all actually was though that just shows that y 'all making y 'all rounds though yeah that's a fact that's amazing man well let's get into it man I know you got the new music coming out, so we definitely going to talk about that, but I wanted to get your perspective on a few things.

10:22You know, obviously you're one of the great moms when it comes to business. So what's your thoughts on the state of music right now? I know you got, you know, a hit out now, but have you changed your tactical strategy as far as like TikTok? Like, are you aiming towards social media, TikTok influences when you're actually making the music or is it still like how it was before? Like, how has that changed being social media? Yeah. Like me personally, I didn't change anything. I felt like the formula that I have for me specifically is like the formula that will always be like for me. Right. So I think everybody has a formula that works for them.

10:56With me, I just feel like it's recession proof when it comes to what I'm doing because of the fact that I'm covering like the globe. And now when you look at social media and how it was actually spread and then you look at my music, how it was actually like it adapts to every generation. Right. So if next generation comes a whole new different technology, my fans today is going to present that to their kids and then they're going to adapt that onto whatever that next technology is. You know what I mean? So I never really worried about trying to conform into this technology because then I'll be like I would literally be stuck in this frame of work.

11:33So when something else new come, I'm going to have to readapt again. And you want something that's going to be sustainable, that's going to adapt to anything else that's new, that's adapted. you know what i'm saying so my formula has always been just make reality music that people can relate to so as long as people can relate and people are creating new platforms that relation is going to always conform into that new platform yeah your songs when they ring off even now it just feels like it could have happened in this year right you know i'm saying i wonder when you're creating or when you were creating yes you're making songs yes you want to make a hit at what point are you thinking i gotta build catalog or did it just you know what that was always the case okay like as i'm making i'm making it to build catalog right but i always looked at it from a perspective of just make timeless music you know i mean i think what what you what you can relate to is always going to be timeless if it's not timeless now there's going to be a memory tomorrow but even memories are timeless so don't overthink it or try to make music for now and i think that's the biggest mistake artists make because when now is no longer here then they have to try to make music for the next now.

12:36And you just have to find, you find yourself reinventing every time before you know it, you're going to find, you're going to lose things to reinvent into. You know? Speaking of catalog and timeless music, people are selling their catalogs. Right, right. Right? So is that something that you're considering? You have considered? I got, my catalog is so big. Tell people. I can throw a little piece here. A whole little piece here. That's what Jermaine Dupri was saying. He's thinking about selling pieces of them. And that's how you should do it. Like, especially, but it depends on, you know, what you have, like, what's your plans?

13:11Like, me, I was selling pieces of my catalog so I can build my city. Oh, you already started selling pieces of your catalog? Oh, yeah, I definitely started selling some pieces. But there's a block of catalog that I would never sell. That's for my family, right? That's going to continue to make money for them and their kids and for on. But because I'm constantly creating, there's pieces that I'm creating specifically just to be able to gain value, raise the, you know, and then sell it later. You know what I'm saying? Like real estate. Exactly. It's just like real estate. But you have an artist that actually sold T-Pain.

13:44Right. You participate in that? I mean, his portion he can sell. I still have my portion. Oh, you still have your portion. So when you're selling, you're selling the portion of the catalog that you own. Like prime example, if I own my masters 50-50 with Universal, if I sell off my masters, I'm selling my version, my 50%. Universal's still retaining theirs. Or they can hold on to theirs if they decide to. You know what I'm saying? Yeah. I mean, that makes a lot of sense. And even part of it was like how people were getting their masters and, you know, the provisions of 30, 35 years before it reversed back.

14:15Right. And trying to figure out. Reversions, yeah. The reversions, once I get full control, now it makes more sense because I have more value. Exactly. here's the thing also because early on like you said you have artists and i'm sure this catalog that we're keeping that in the tuck when you're structuring those deals early in your mind when you're getting the artist you're like that's a superstar we've got to structure the deal to have that we like how did you have that that knowledge early on to figure out that's a star we got to have partnership equity shares and insight because it's something those you you you kind of choose that according to what you believe in.

14:51Like it's some things that you just be like, nah, that's going to be big. Like you believe it yourself. Like, you know that right there going to go crazy. Right. But then sometimes you find something that you don't really believe in that even goes crazy than what you did believe in. So me, I structure everything as if I believe in it, I won't get into it unless I believe in it. And it's all the same structure until we negotiate later when you actually prove yourself, you know what I'm saying? So like, like labels, That's what they do. They give you a generic contract, and it's one for everybody.

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18:32Because they're investing in you I never recouped it. They're investing in you. Like, to me, that's a selfish way of thinking because they didn't have to take their hard-earned money and put it into you for you to become in the position you're in to complain. They got to put that money on somebody else. Like, people don't think about what comes with investing in you and what they have to deal with, you know, whether it's relationships, resources, all that that they all had to work or actually purchase to gain the value enough to be in a position to invest in you. Like everybody, when they sign in the contract for the first time, it's the best thing that ever happened to them.

19:07Nobody remembers that moment. They remember the moment when now they have to give that money back. Man, I put in all this work. I had to get up early in the morning, do all these radio shows. I had to travel over here, sacrifice time with my family. Yes, that's what you asked for. That's what you signed up for. That's what I invested in, thinking that you understood that that's your role. my role was giving you the resources to commit and actually you know like bring your dreams about right so now that you're in the dream and you know that now that like this is what it takes for me to get there you want to be rewarded for what it takes i rewarded you in advance the advance am i right yeah you know what it feels like when you when you speak about it and i wonder if your mindset was there it feels like the venture capital world whereas i'm looking at an investment, which is the artist.

20:00I'm saying, yeah, I'm going to invest in it. And most times, when you put an investment in venture capital, if one out of ten make it, you've got it. You get the right one. You're fortunate enough to have done it a few times. A few times. That don't happen after a day. Right? Was that in the frame of mind, like I'm treating it like that type of investment? Well, for me, it was a little bit different because everything that I invested in was already a part of what I was already doing. So I looked at, I was investing that to build more value for me. Like if I signed an artist like T-Pain, T-Pain is a songwriter.

20:39He's a producer. He's a performer and he's an entrepreneur. That's value in itself that I can attach myself to that raises my value. So I went from the moment I invested in him because he has a value that comes with that. You understand what I'm saying? So now if I go into any corporation, loan office, whatever, and I need something to leverage, I'm leveraging what I bring to the table plus what's attached to me that I profit from. You understand what I'm saying? So I'm not thinking like a hedge fund. I'm thinking like I am the fund. There's a bigger difference. And when I'm thinking like that, I feel like I can never make a bad investment with that mind frame.

21:24Right. So because I know how to leverage this within this sector. So it's a little bit different. Whereas hedge funds, they just invest in, you know, a group of things and hope that one of them pop. But what they do, they kind of hedge their bets because they get the information on everything they're betting on and look at the numbers and find and kind of try to, you know, mitigate the odds and the risks and, you know, and the rewards or whatever the case may be. But me, I already know that I'm winning. And as long as I'm winning, there'll be money there waiting, like ready to invest in me. But now they want to see what my value is.

21:58So, you know, how much to invest. So when I invest, I'm investing so I can raise my value to get more money. Whereas them, they're raising, they're investing to make the money back plus interest. So it's a little bit different. Yeah, it's a great breakdown. Every time we see you, we got to talk about Africa. Got to. Got to talk about Africa. Especially now that y 'all African. That's a fact. I'm not sure which country is famous. We took your advice, man. We heard what you were saying. Man, when I tell you, this is probably the most proudest moment. Because this was a public, like, in fruition.

22:34Like, this is something we spoke about. And y 'all acted on it. Yeah. You know what I'm saying? That's amazing, bro. So how's everything going? Obviously, the last time we spoke, you had the city. The city, I think, got derailed a little bit. It was some hiccups. Where do we stand now with everything? Well, the hiccups are going to continue. You know, the project that I'm doing is just one of them things that's just, it comes with hiccups. Like, it goes back to the New Artists again. Like, I asked for it. Now, I got to get still with it. You know what I'm saying? But it's a lot of political, a lot of agendas.

23:08It's one of them things that's going to change the face of how the people of Africa, you know, think. And I think that's what the fear is. like the switching of that mindset and mentality with a project like that becoming successful. So I'm always be going up, going up an uphill battle. So now I limit the conversations when it comes to that, because I noticed that they was utilizing that information to kind of try to pull and shut it down. You know what I'm saying? But just know I will always continue to be working towards that direction. And like, well, just in general, as far as Africa, what do you think the biggest hurdle is?

23:42Is it internally as far as dealing with like governments and stuff like that or is it the external factors like people that have vested interests france yeah that's the biggest problem the biggest problem is is the outside world coming in um but then the problem that actually allowed that is the internal problem with the mentality but so they kind of play hand in hand like you can't have one without the other because the western world got so much influence because of they throw their money around and they can throw their money around into certain parts of Africa because Africa just struggled so long like in a position of not having so if you go into an environment where people don't got you can just bribe they got to survive so they're going to accept it right so they utilize that that that that as a they honestly use that as a weapon to continue to do what they're doing but we got to be smarter and be willing to take that suffering just a little bit longer to be able to be in a position to actually own it and really like, like do what we need to do.

24:49And it's prime example. Like when you look and see what's happening in Iran, right? Iran could have easily just gave in and say, you know what? Take it. But they came together as a people and knew that we have to sacrifice in order for us to be free on our land, protect our sovereignty and still be able to look ourselves tomorrow and live and take care of our children the way we know how to do it within the culture we live in. So they fought back and was willing to die for it. Africa got to be willing to die for it. That's the only way it works. Yeah, you're seeing some countries, you know, fighting that.

25:29For the ones that was willing to die for it, what happened? They switching it up. New leadership, new environment, new rules, new attitude. and the countries are actually advancing. Yeah, I was reading a report the other day about the opportunities. Obviously, we've seen it and have tried to help change narrative and create narrative around the opportunities that are there in terms of population growth, economic opportunities, infrastructure. There's a study saying that the population growth is going to double, specifically in countries like Chad, Mali, Nigeria, triple. Yeah, triple. But there's not the same infrastructure there.

26:06And so coastal cities, Dakar, Abidjan, Accra. They're going to get that weight. They're going to get the weight of that. Talk about the opportunities that exist in these coastal cities, man. This is why I've been preaching forever for African-Americans to go back home with the knowledge that they have, the resources they have, and the access that they have. Because what's crazy is America itself has money to give U.S. citizens to invest in foreign lands. like they the reason what makes us so powerful is the fact that the united states of america is united because they have allies everywhere because they spread investment everywhere but if they can if they cannot have to give a country aid but give that aid money to their citizens to invest in that country and flourish they would prefer to do that so the money's available to do that right so when you look at the influx of people and population growth like that that's an ultimate opportunity for anybody to go in and really like whatever you're doing here and you do it there your money your value all that's going triple quadruple like literally within a year because of the opportunity of the population and we went to Dakar and saw some of that opportunity some of the vision right I said yeah we might be Senegalese after this no 100 % and we take the Joloff that Joloff we'll get to that

27:33Yeah, I mean, you got a port city, which means that there's trade, which means that there's infrastructure. The same way we looked at America in terms of why New York is prominent, right? Closal cities, harbors like Newark, harbors like the DMV, Miami, all these places that have access to water lead to trade, which leads to growth. Same things exist. What do you think about the music? Like we've seen Afro beats take off. Right. We see Tyler like it's become very, very mainstream. Right. How do you feel about the direction that African music is headed in? I love the direction. I mean, the fact that it's even mainstream to me is enough for it.