Musical artists have been complaining for a long time that Spotify sponges off their work and gives them almost nothing back. Now we see what those profits are being used for - this from the Telegraph:
People here with Spotify subscriptions might like to consider the ethics of supporting a company which exploits musicians and uses the profits to invest in the defence industry.
A year after launching a €1bn investment company to boost European tech, Spotify’s co-founder Daniel Ek has placed his first bet with a stake in Helsing, a defence tech start-up that produces live maps of battlefields.The start-up, which was founded this year and plans to have offices in Germany, Britain and France, received €100m from Ek’s Prima Materia, at a valuation just over €400m. Ek said he had founded Prima Materia in September 2020 to “identify society’s most difficult problems”. The software developed by Helsing will use artificial intelligence to integrate data from infrared, video, sonar and radio frequencies, gleaned from sensors on military vehicles, to create a real-time picture of battlefields. Possible applications include helping troops to detect swarming drones, enemy forces or camouflaged vehicles more accurately than the human eye.
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