Why I gave away my company to charity
2009-12-04
Two friends were at a party held at the mansion of a billionaire. One said, “Wow! Look at this place! This guy has everything!” The other said, “Yes, but I have something he'll never have: enough.”
When I decided to sell my company in 2008, I already had enough.
I live simply. I hate waste and excess. I have a good apartment, a good laptop, and a few other basics. But the less I own, the happier I am. The lack of possessions gives me the priceless freedom to live anywhere anytime.
Having too much money can be harmful. It throws off perspective. It makes people do stupid things like buy “extra” cars or houses they don't use - or upgrade to first class for “only” $10,000 so they can be a little more comfortable for a few hours.
So I didn't need or even want the money from the sale of the company. I just wanted to make sure I had enough for a simple comfortable life. The rest should go to music education, since that's what made such a difference in my life.
So I came up with a great way to do this. I created a charitable trust called the “Independent Musicians Charitable Remainder Unitrust.” When I die, all of its assets will go to music education. But while I'm alive, it pays out 5% of its value per year to me, to cover my living expenses.
A few months before the sale, I transferred the ownership of CD Baby and HostBaby, all the intellectual property like trademarks and software, into the trust.
It was irreversibly and irrevokably gone. It was no longer mine. It all belonged to the charitable trust.
Then, when Disc Makers bought it, they bought it not from me but from the trust, turning it into $22 million cash to benefit music education.
That's one way to sleep well at night, huh?
So instead of me selling the company - (getting taxed on the income, and giving what's left to charity) - that move of giving away the company to charity then having the charity sell it saved about $5 million in taxes. (That means $5 million more going to music education instead of another tank in Iraq or a banker's bailout bonus.)
Also, the move of giving it away into a trust now - instead of holding on to it until I die - means its investments get to grow and compound tax-free for life, which again means more goes to musicians in the end.
I'm writing this article because many people have asked why I gave it away, so I thought I'd write my long explanation once and for all.
It's not that I'm altruistic. I'm sacrificing nothing. I've just learned what makes me happy. And doing it this way made me the happiest.
I get the deeper happiness of knowing the lucky streak I've had in my life will benefit tons of people - not just me.
I get the pride of knowing I did something irreversibly smart before I could change my mind.
I get the safety of knowing I won't be the target of a frivolous lawsuit, since I have very little net worth.
I get the unburdened freedom of having it out of my hands so I can't do something stupid.
But most of all, I get the constant priceless reminder that I have enough.
Hi Derek!
God bless you. You get it
All the best,
Richard
Great words, Derek. I always knew you had those qualities, but it was cool to see it in print (well, on screen). So, how much is enough? To most people, sadly, enough is "just a little bit more."
Good stuff brotha!
Great and clever story!
Thanks for sharing it.
AMAZING STORY! our paths in life are very similar... except i am still working on building my first company so i can benefit the world by always giving more of it than i take from it. THANK YOU FOR THE INSPIRATIONAL STORY! keep living the good life : ) simple and honest!
Have a great weekend and thank you for reading this comment.
Best Regards,
Matthew Roda
Founder of everydaystory.com (coming 1/1/2010) : )
Well said sir. I appreciate what you are doing and hope that even more generations can benefit from the gift of music.
Awesome.
Wow! Great idea,Derek. Was it very complicated setting up the conditions for the trust? All that legal stuff, I mean.
Have you specified how the money will be used for music education? Maybe I should follow the link and read about the trust.
After you having good fortune of getting it. Derek, clearly you got it. Thanks for the inspiration.
I admire your decision. I also admire your willingness to recognize that happiness is priceless and stuff does not equal happiness.
This is also what I strive for in my life. Alas... I have stuff, my kids have stuff, my wife has stuff.... That being said, we also strive to keep our lives simple and we strive to achieve the standard of generosity known as a tithe... give stuff away till it hurts.
Merry Christmas to someone who values the spirit of giving. Thanks for all you do.
When I've toured Mexico, where the happiest people live, I've noticed that they have the fewest possessions and the least money.
Instead of a car, most have a 50cc honda upon which seven people ride, smiling and laughing, to the grocery store. At night, hammocks are strung between hooks into the concrete walls of the one room house. Everyone sleeps in same room. When I asked some Mexican friends why they sleep only 2-4 hours a night, the reply was, "we love living and we will sleep when we die."
Well done Derek! having material things away from necessity weigh you down. I live the same way. The only things I ever had were my guitars and the clothes in my closet. it's an amazing feeling to have that sense of freedom. it's also most admirable to give back part of so much that you contributed over the years. Indeed it's a great sense of pride and accomplishment.
Well done, Sir.
This is great, and it ain't a thing either. Very nice move you made Derek. Oh, and love your posts.
The Best Things in Life Aren't Things! So True!
Have have discovered and are living the secret my friend. Congratulations and God Bless.
That's it, I'm suing your trust! No, I'm just kidding...
Very nice, Derek! Just had a conversation with someone last night who didn't understand why I've been giving away / getting rid of all my "stuff". You get it!
Thanks!
Emma
“Earth provides enough to satisfy every man's need, but not every man's greed”
Mahatma Gandhi
That's beautiful, Derek. Thanks for sharing your story, it's really inspiring!
Great lesson for us all Derek! ..and you tax attorney is..?
;-)
Derek,
Ever read "The Billionaire Who Wasn't? Chuck Feeney is the man!
Check it out!
Agape,
Michael
LOVE loVE LOve it!!! Thank you for writing and explaining this so clearly that even someone very math-challenged can understand. This will go to many friends and cohorts.
E
absolutely spot on!
Dear Derek:
About the only thing you really lack is hair which is more than made up by an enormous heart!
"I knew all of that", but somehow you change my already changed perspective of things.
Thank you for sharing so much.
Yeah!
Until you wake up in the middle of the night sometime and think, jeez, what the hell have I done, I'm an idiot !
Hey, only kiddin'. Just wanted to try to make you laugh.
Thanks Derek. I love this story. The only way to change things is to lead by changing. Many people aren't exposed to this kind of thinking, especially young artists in America. Thanks for the post! Be Happy!
Thank you for sharing something you didn't have to and teaching me something about myself, Derek.
Hey Derek. I'm glad you are around. If you look at the papers at all you can see the selfishness level has reached new highs. I too am no Ghandi or Mother Theresa but I try to be decent and reasonably compassionate--not just up my own ass all the time. I am thankful that you exist and take the time to share what you think and feel. I am sure by the comments i read that you are literally changing the world for the better. Thanks for letting me in on it. Nice to be associated with someone who sees beyond himself.
WOW!
I completely admire your reasoning. We live in a such a material world...it's nice to hear some perspective from those who could have it 'all'.
I am in awe that that many students will be benefiting from your cause; and it makes it even better that it will be aiding MUSIC!
Amen, and Merry Christmas Derek!
Back to the basics we go!
I used to call you the patron saint of indie music. Now you're also the patron saint of arts-education as well. You're a boddhisattva Derek, an example for us all. Standing ovation.
Amazing story Derek, CDBABY will never be the same without you !
I gotta hand it to you Derek - that takes a REALLY big heart, and a small ego to do. Don't know if I could do the same. Hats off to you buddy.
I sure could LIVE on 5% of 22 million a year (1.1 million). I'd run my own recording studio with a full-time chamber orchestra!
Profound as always. Thanks for letting us in on this and thanks for your fantastic generosity.
You're a very special person, my friend. I don't say that to too many people-
plus that's a smart way to not get taxed for it. and damn 5% of 22mill plus ain't to shabby to live off of 'simply'. you've done well for yourself sir, and you've did it in a smart way. i can only wish i can do so well. i was thinking of doing biz through a nevada corp for those reasons, but maybe a charitable trust is the better way. thanks!
Great story and very true. Would love to get involved in any other music project in the coming decade. I feel I want to do something as well. Email me back; I'm on Long Island, NY.
Beautiful story, Derek. You are an inspiration!! Thank you for sharing so much with the music world.
Thanks Derek. You're a man I admire. Even more so now that the CD Baby site (it;s still your baby) is working well again.
My family and I did the same thing with a combo of a family trust and a charitable organization. It's "safer" there and gives us more freedom to live without those lawsuit fears. It's freeing to live to help others.
Good thinkin Derek. I'm sure I'd have done something stupid!
The pragmatic and the ideal are wedded in your decision, Derek. This is a model of decision making at it's best. We can all benefit from this increasingly necessary approach to solving our strategic problems. "Put your gold money where your love is baby." (Robert Hunter)
Thanks for not keeping this under cover; we need to hear stories like this so full of the spirit of Ben Franklin. Perhaps, as you imply, the key realization is know thyself, honor thyself, and be confident enough in that to modify general social expectations.
Very best regards, Doug Saum
Thanks, Doug Saum
You Never fail to amaze me!
From CDBaby to trust fund baby! LOL
There is a unique joy of living a minimalist lifestyle, glad to hear you were able to withstand the benjamins and live it. What do you plan on using the trust for, a sivers (Carnegie) hall, a music school, marketing muscians, subsidizing musicians?
Brilliant. Your actions embody one of life's beautiful truths.... generosity creates abundance! Thanks for sharing and inspiring.
Kim
An inspiring story, but I think the claim that you weren't being altruistic is false modesty. After all, there would be nothing to stop you from having all that money yourself but not spending any of it. Well I suppose the 'deeper happiness' comment just brings it to a semantic debate about the definition of altruism.
This is brilliant. I hope lots of entrepreneurs are reading this.
Great idea Derek. Having "enough" is a beautifully simple concept (though difficult I think for a lot of us--myself included--to understand and achieve).
Wow Derek,
What a great thing to do. I don't know if I could do it, but it blows my mind how you did it.
You are one cool musician my friend.
All the Best.
ha...and now I break the chain of living in OZ.....
....sounds great in theory...
~rhonda
Oh, Derek, you ROCK! God bless your life with an abundance of simple pleasures!
Thank you for this inspiring sharing. I must say that I miss your personal presence on cdbaby.
Thank you Eric
Thank you for sharing this, and everything else
Just a big thumbs up to you Derek. So many things I dig about this post. I hope to get a chance to rap about them in person someday. Thanks!!!
Very hep. George Carlin's discourse on "stuff" just flashed.
I love you, man.
Love, B
now we finally know why you handed it over, and frankly as much as i respected you and then stuff that i've learned from these posts, that just put you on a whole new level in my book. we need more people like this in the world - people that know that possessions don't define you and they don't equal success.
Wonderful!
Love is the answer to everything.
Irrevocable trusts are a good idea. One other benefit is that you get the ongoing payments as long as you are alive, so you don't have to worry about your money running out while you're alive, like you would if you used savings.
Besides 5% of $22mil per year is still pretty decent
Derek-
Great story. Reflects a spirit of generosity and unselfishness that does result in a simpler, less complicated life - one of the secrets of happiness.
Xfering the company to a trust was a smart idea, one that few people would know how to do. I know because my day job is Financial Advisory (fa.ml.com/garyalt).
Keep up the good work, and the inspiring thoughts!
I did wonder why you 'gave away' your company but it makes sense now. I think that in the long run the strategy you chose was a great means to achieve your long-term goal of benefiting musicians and music education.
I know exactly what you mean - but it is a courageous move. For many, it is easier said than done. Congratulations. I am striving to be in a position like yours, shedding what is not essential and working out priorities. It takes a strong man to do what you have done.
Wow! Derek - One of the best things you've done is provide a wonderful example! I will let my current students know what you have done - as an alum of our school you are an inspiration to our kids today!
Ya done good
This is why we have "poets" ... because there must be somewhere in the world a talented artist that could find the words to express how my heart overflows with appreciation for you and your gift to the world.
Thank you.
Francie
So 1.1 million/yr is what you receive? Not bad, not bad at all. Sure would make ME happy!
Wow Derek!
Thank you for sharing your inspiring story. What a wonderful and loving legacy you have created. God Bless You, Lisa
Derek - you are a gem
Yep, it was the best move on so many levels. People do forget that the more things you have the more responsibilities they bring. Freedom is not having to worry about shirking responsibilities. I know from my own experience that the goal is to avoid having the largest ring of keys. But, I do think people have to reach their own point of "extreme excess burden" to personally understand that enough is really more than enough and less is more. Once we reach that point then I think that is what we call success.
So, you did this so you wouldn't have to pay 5 million in taxes?
You still would have 17 million!
You could have started another business with the cash.
No sucking up to the bank or investor's or anyone!
Ok... is done, and if you're happy that's great, but...
No, that was not the reason at all. Sorry if I was unclear. Please re-read. -- Derek
damn... speechless...
Thank you for doing this and an excellent story.
thanks for sharing the love. you are an inspiration.
i hope your parents are proud of you. they must have done something right.
That was a brilliant move. From a personal & business perspective. But, I have to ask, do you play any music anymore or have an instrument or 2 lying around the apartment?
Having gone to Berklee (as I did around the same time as you) you must have found a strong pull to do music to express the creative power of life through that channel. Is that still a part of your life?
Just curious.
Hmmm... 5% is still roughly 1M/year to you... Congrats and all, but that sounds pretty easy to say "I have enough" then
But if you're taking 5% out every year, won't it all be gone in 20 years? Maybe I'm not understanding how it all works.
The money is passively invested, earning at least 5% a year so that it grows, not shrinks, during my lifetime. -- Derek
Yes! A million times yes!
Thanks, Derek. You are a gift. My greatest asset is my "gratefulness."
You have done an admirable and intelligent thing.
I might observe that some people give away their belongings, and others give away their time. I am thinking of a professor friend who gave his time to students for thirty five years, influencing numerous lives. He never had anything to sell, but he was generous and changed the world for the better as well.
Not everyone will successfully build a business, but that does not mean that that one cannot contribute to the world. You have admirably found a way to do so in your circumstances.
Brilliant! Magnificent! And music is such an awesome thing.
I've always heard that as a teacher if you effect one person's life your journey will be priceless. Unbelievable that you leave it all to music education. Imagine how many will benefit from all your insight , wisdom and generosity!
rada
Wow! I'm deeply moved by this. I think I need to change my own personal perspective in a positive way. Thanks for the words of wisdom, Derek!
Derek, can you come talk to my kids? Please?
Derek, I am so impressed with this priceless decision you made in selling your company and handling the transfer of ownership this way! You are an amazing person and I admire your will to be content with having enough. Peace of mind is always good. Bravo my friend!
Way to go, bro - your example helps lead the way up!
Another amazing story shared, giving the rest of us more great ideas to ponder and explore.
Your reasoning and approach were brilliant and generous. Thank you once again for the insight, lesson, and the example of possibility.
Luna
Hey Derek...I DON'T have enough...feel free to throw some of that unused cash my way! ;-)
You're a good man for doing what you did!
Peace,
John
Who ever said that money is the root of all evil was never starving. But who ever said enough is enough probably was both starving and rich at two points in their lives -- seeing from two points of view really can open your eyes to what is important in life!
You should run for something.
e
Great work Derek!
The most important thing is to learn who we are. Like you said you first had to learn what made you happy. I'm still working on that, trying to find out how I work best so I get things done and I'm still happy with it all. I would love to hear your thoughts and read peoples comments about how they best figured out how they tick. I think it would help some of your younger readers.
Derek...My Friend...
Woooooow ! You're something else buddy,The world is better because of you ! May you live happy for a hundred years more !
Bendiciones !
Jorge
Guadalajara,Mexico.
This was an awesome post from an awesome guy. I'm impressed.
of all the 6 primary opulences: renunciation, knowledge, strength, fame, wealth & beauty, renunciation is chief, renunciation is king, renunciation is freedom, renunciation is satisfaction, renunciation is peace, renunciation is enough, renuniation is been there done that nothing to it, reununciation ....... is to walk a higher path, experience a higher taste, simple living, high thinking.
Jaya Srila Prabhupada!
I ditto eveyone on this blog. And I appreciate being apart of it all. The knowledge that we are gaining from you and each other is priceless and rewarding.
"Waiting On lOVE, Waiting On You"
Ms.Dimples
Thank you Derek!! My heart is touched and my consciousness inspired.
You are one smart cookie, Derek. You might be advising presidents someday. One can hope.
what an example Derek! Amazing! Hope you always have happiness
This says so much about you. It also gives me hope about the future, and faith in other people to sometimes make the right decisions, decisions not based on shot-sighted greed.
The truth is, there is so much more to happiness than money. Money only matters if you truly don't have enough... enough to eat, get healthcare, have a warm place to sleep, and puruse something creative and productive with your talents. I have tread that line for the last dozen years. Sometimes I've fallen below the "bare minimum" of money, but I have never once regretted my decisions.
Money is a trap. Just like "fame". Just like a high-stress job. Quality time, quality activity, time to appreciate life, good company, good work... those are what makes life good. Money is a short term drug... it's easy to become addicted and in need of a fix.
Your decision was a well-thought out and smart one. Thanks for sharing it.
I'm not there yet. I feel strong familial obligations to share my wealth with my wife, children and other family members that would probably prevent me from doing this to such a large degree. I'd think I'd have to keep at least $5M.
Derek,
A very inspirational message for all of us.
Thanks for all the independent musicians support you have given to all of us over the years.
Lucas
Wow! Sounds like you're a music loving minimalist with a heart of gold
The more I have the more I give. You cold have given more - the more you make. To stop and tell people how nice it is is not to realize the fact that more people could always be helped- the more money you make the more people you could help.
Was 1 billion to much for Gates to give away?d
Are you sure you did not get lost in money and not see the larger picture?
God, I love you.
I have always had plans to do things for others and such if the "gods were to ever kiss me on the lips", but, I must say of all the ideas I have had... none were as good an idea as what you have done.
I'm gonna have to steal this idea... just letting you know.
Great, Derek.
You are a very good guy. You have a sort of "into the wild" feelings, that I really appreciate.
Let me think what would I do with $22 million... mmmh...
Honestly, I think I would have a similar approach. I would keep $1 million per year for me, to live completely comfortable (reeeeally comfortable!).
For the rest of the money, I would use them to create work opportunity for homeless people, to reintegrate in the society.
Anyway...
Have a good weekend my friend.
Gabriele
You're a good man Charlie Brown.
A wise man once said "For one's life does not consists in the abundance of the things he possesses" Luke 12:15
Thanks for the reminder
Paul O
Well done Derek! Congrats, and best wishes for the rest of your adventures.
--
Mike
and dude, what are you doing these days besides writing in your blog?
You're a model of the paradoxical leader, and you're too modest to own up to this but trust me when i tell you on behalf of many of us: you're a modern day hero.
Bene, well done! Keep on shining, All the best, Sky.
I just don't understand why some people will hate on others that are trying to do good. Why others always have their hand out instead of taking these valuable lessons to get their own. Derek, is trying to help us as artists and as human beings. I am more than happy for Derek. At least he is giving back to society. And he is living life on his terms. What ever he is getting out of life, he deserves it.Please continue to educate, to stimulate our minds, Derek.
Unfortunately you are few and far between my friend. Kudos.
As a young child my mum lived as a refugee in a mud-hut in Tanzania during WWII, and speaks of this period as one of the happiest in her life.
It's something I try to reflect upon in this materialistic world we live in.
I never measure success in financial terms.
But if ever my success were to bring with it any kind of financial windfall then I would try to put it to better use, much in the same way I give away all the extra clothes and belongings I accumulate each year.
It feels better knowing someone's making good use out of it rather than piling up in my closet.
I think your story, and the rationale behind it, touched me very deeply. Thank you for sharing...
Derek,
Excellent topic! You never cease to amaze me; thanks for teaching me something I never EVER thought of! Love to you, Phil
Why have you decided to recycle this message? I don't see my comment from 2008. J. Spaulding
Hey Derek,
Inspirational--something really clicked inside reading this--
Love it..
Congrats, as many have already said, on GETTING IT!
Peace, Michael
You are a really smart guy and that was a very nice thing to do. It is nice o hear that nice guys don't ALWAYS lose! : ) Have a Happy Holiday!
Wonderful! God Bless You!!!!
Tim Williamson
I hope that everyone you sent this link to fully respects your openness, because you owe no one an explanation for your success at all.
Congratulations on finding the things in life that are truly important to you, because most people do not find these things till the end of their life.
Ah, I forgot... I see all this blog translated in italian, how is possible?
You hired a team of translators from all around the world?
Yep! -- Derek
Derek,
Thank you for sharing your richly complex simplicity! and your joy of being creative, caring and free!
While there are many examples of folks whose identity is so interwined with their status and toys, from what you've shared, I'd assume that your need for expression, freedom and sharing; your need for creating anew and not repeating yourself; your need to follow your heart's desire and sing your heart's song is the tune you follow.
Could it be that you have discovered how to continually access the unlimited resources of creativity? identifying with the beauty and abundance of lifeforce in motion? And that's what you have enough of? - the unlimited resource of love and creativity which always shares and expands. And so you will always have enough?
Thank you for sharing your soul's creative song and demonstrating through your life's many choices the unlimited inherent value of being and following your heart's song!
Love your Song!
How rich a person who doesn't need as much.
Thank you so much for sharing. I hope that your story can inspire others to choose to be happy and live a life that they love.
J
thank you "peace"
You are a very smart person, Derek. Thanks for sharing your personal insights and inspiring us.
Robert
yo rock man. the truest meaning of music resides in your heart and spirit man. well done! well done!
lovely! I had no idea that was how you did it. That's amazing.
I think the bravest and most selfless part of this whole story was simply that you shared it with the world, knowing that you would be understood by some but misunderstood by others. Thanks for sharing. Jan
Thank you for letting us know who you are more with every post. You are truly inspiring in so many ways.
So,
If you're ever in Boston, I make a mean veggie lasagna, consider this an open invite to our table anytime!
I think we met you briefly once at NEMO. Did you have long beaded braids?
Derek,
My wife and I were glad to be able to read this. Lately I've been reading the daily emails from you and wondering, "What does this man want and why is he doing this every day." I had thought about sending you a letter to ask you. Now I know.
Chas
How many of us would do the same thing if we were in your shoes?
Derek, that touched my heart in a very deep way! Thanks for sharing. You sound very FREE in your decision to donate to charity. Giving always does lift us up and makes us feel so good inside. It also gives us a deep and abiding PEACe.
I Love your short and to the point articles.
Keep up the creativity....
Blessings,
Jeannie
amazing! you are an inspiration, that's for sure.
I think this one fact about you struck me more potently and inspired me more than anything else I heard at LessConf. Thanks for putting it down in writing so I could forward to friends instead of just telling them about "this crazy generous guy I saw give a talk".
This is great! So much funding has been cut from music and arts education in the last 9 years. When we get old and decrepit, these kids who grew up with out the arts, without magic of living, will be ruling the world and deciding how we live. Music education can change the world's future. For those of us who do not have the 22 million, I say we teach or encourage someone to make music. Even if it's just one person, it could effect so many in the future.
Hey Derek: Kudos to what you did. You went all the way...I sold my company(for less) in a non-music industry, so I could use proceeds and focus on my real passion independent musician advocacy. I am just starting out in my crusade to help independent musicians through my website and charitable contributions for music instruction and instruments to kids in underserved communities I hope to make a difference much like you already have and will continue to. Thanks for setting the example and congrats on doing the right thing which you already know. Keep inspiring.
Goosebumps! In this day and age, you're an inspiration for living from the basics. Living from the soul. And, you make me smile
Tia
@TiaSparkles
So I guess I'm buying lunch next time?
Well done. Congrats!
There is a place where you will get to hear all the music you helped to bring into the world and see how it touched peoples lives...
I understand that the sound system up there is pretty wicked!
Simply great, I shouldn't have foreseen such a benefit.
I try to help poor children who needs surgeries for their sight, because I think that amongst all the dreadful disgraces of the life the most terrible is to remain blind.
...maybe too many of us are blind even with perfect eyes!
Ciao from Italy
D irection
E ase
R esourcefulness
E ffectiveness
K ey
S incere
I nsightful
V ital
E arnest
R estorative
Absolutely awesome! An inspiration... thanks for sharing! Hope I get to meet you someday...
...public schools... are you aware of the deep funding cuts... the arts are the first to go...
...with your proceeds from your "...charity give-away.."...maybe food for thought... and since another "donation"... a tax write-off as well...
~rhonda
thanks for sharing that with us, derek. you are truly rich, and you know it. xo
Great story..sounds like me although i haven't made it yet i ll follow your foot steps when right time knocks
You sir are a gentlemen among gentlemen.
Dereck,
I am inpressed. Being a gypsy at heart I feel the same way. I don't have a lot but I will soon sell everything and move on. The happiest I've been is when I'm travelling with a tent, or trapsing around in a hippy van. That is when I truly feel that I "have enough."
Do you think starting out in music "created" this path for you, or would you have given away any business you built?
On behalf of parents everywhere who have kids that want to "play" for a living, thank you.
Philanthropy at its finest.
Thank you Derek for setting the "example", and for reminding us ALL what is most important in our short, fragile and most often futile lives.
Thank you!! That story is so beautiful and rings so close to home as I, too, have started a not for profit organization involving music and education.....Blessings
Derek, after a decade of acknowledging and utilizing your valued music business opinions I now see that you are also wise and generous beyond your years in a much more relevant way.
James 3:17 -
"But the wisdom that comes from heaven is first of all pure; then peace-loving, considerate, submissive, full of mercy and good fruit, impartial and sincere."
I am constantly learning from you. Many, many thanks!
So ya gave it away for your own happiness......selfish bastard. ;)
Seriously though. Good on ya brother. Hope we run into each other some day so I can shake your hand and say thanks.
Cheers
Love this! Thank you fellow human being, Derek!
"The highest form of wisdom is kindness" -- the Talmud
I wish I was lucky..
RTFO, D!
Your best article yet!
You just surpassed Atticus Finch, the Green Lantern AND Miles Davis in hero points.
You rule.
I want to be like you!
I want to walk like you, talk like you...
Respect Derek. Nice Banksie image too
Derek,
What a way to start this morning they with your article. Your Life. YOU GET IT! DOING IT! HELPING OUR FELLOWMAN. BEAUTIFUL!
Have a great weekend,
"I've never seen a u-haul behind a hearse. The only thing you take with you when you're gone is what you leave behind."
- Miles Patrick Yohnke
LIVING IN OUR OWN SKIN [PEELING BACK THE LAYERS]
By Miles Patrick Yohnke
© 2009 All Rights Reserved.
"Society is a masked ball, where every one hides his real character, and
reveals it by hiding" - Ralph Waldo Emerson
The poster boy. This is whom I have been for most of my life with respect to
the issues I'm about to address. Most humans are really just sleep walking through their lives. Society tells us that if we have this car, we are somehow better than another. That if we live in this type of home we are somehow better than another. If we have this type of clothes, again, we are somehow better. But the real story is that the woman or man is doing all this to be liked. I just bought this car. Do you like me now? I just bought this house. Do you like me now? I just bought this Hugo Boss suit, this outfit. Do you like me now? If we really think about it, we just want to be liked. From the executive to the janitor we just want to be liked. We are all struggling! It makes one ask questions of who they like and why they like them. It should be the person inside. That something about them. It's not what their assets are, rather their asset is who they are.
Each of us, every person, has a wonderful story in them. Truly. We are all
children of God. At times we just need to stop, reflect, and perhaps quit
running from ourselves. It's interesting so many people are trying to find
God. Many get involved in a religion only to jump to another. In alot of
cases they are not looking for God at all. Many are joining nothing
dis-similar than a gym or a club per say. They just want to be around people that perhaps have a similiar interest. Or mostly just to feel like they belong. Most of our lives it is just that. We just want to belong! To be liked, needed, or be loved! We just need to be truly honest with ourselves and question our purpose in each thing we do. That God is in each of us, not
something to go searching for, but searching within ourselves. And in that
lies the answer. Each of us holds a beautiful story only to be told. We are
all capable of the most beautiful things.
The mind is a very powerful organ. Albert Einstein stated that we only use
10% of the brain. I was a young child when I read that. I thought it was a
typo or just me and my dealing with my learning disorder. But I never forgot
it and now years later, I understand. Most people don't want to think. Thomas Edison wrote: "Five percent of the people think, 10 percent of the people think they think, and the other 85 percent would rather die than think."
We are conditioned in ways from media/society not to think. We are banged
and banged over the head from ads and media to be this and that and not to
think. Mother Teresa once said: "One of the greatest diseases is to be nobody to anybody." We need to stop and take ownership of our lives. To realize and accept that happiness isn't in possessions. In us lies the happiness. When we realize this one has another type of life. A calm, a peace, a joy. A life that we never thought was possible.
Widely recognized and award-nominated engineer, producer, writer, poet and
founder and C.E.O. of 5 Star Productions, Miles Patrick Yohnke brings many
years of experience to the music industry; including many awards in sales
and marketing. If you are looking at developing your career, Yohnke offers
consulting in person, by phone or via email. For more info, please contact
him directly at: 306.227.6379 or email at: miles@5-starproductions.com.
Good for you Derek! that was smart and it was done for the right reasons. people like Robert Kiyosaki should admire the way you handled your former business.
Bill
Hey Derek? Will you come over and get rid of all my "stuff" for me?
Seriously, though, I think it's wonderful that you will go on living through your support of music education years after you have left this world. A true blessing!
What a great way to be the ultimate decider of who will benefit from the fruits of your labor.
Derek You are a lucky man.....if I had a bit of the luck and opportunities that you had I wouldnt be in my current situation.And the sad part is there is really nothing that I can do." Stay Optimistic"and "Dont Give Up" are sayings that really have no bearing on me....
Derek,
About 2 months ago I sent you one of my original songs to get your opinion on how I should handle marketing,etc.
BTW, Please don't do send your original music to Derek... I made a mistake in doing it and I apologize.
My point:
1. You took the time to write back informing me you don't give opinions, etc. You're a VERY busy man; you did not have to write anything, but you were kind enough to let me know you received my song.
My respect level for you then shot up a thousand points.
After reading this, if it was possible for my respect level to run any higher for a man, condsider it a fact.
In this dod-eat-dog music business, you, sir, are one of the true gentleman.
Your Friend,
James
One more comment...I think that what you did was good but I cant say that cd baby has been the same without you
Brilliant! This kind of thinking and action is a new world order. Thank you for following your heart so that others can see how well it works.
You are awesome.
F-ing inspring man, I love it!
Every entrepreneur needs to read this post. I'm not normally one to comment on blogs but you really inspired me with this one. You truly are my role model as a young entrepreneur. Keep up the good work and keep sharing with us. Thanks!
I love this, in so many ways.
We can all pursue something like this to a degree:
1. Figure out what you earn each month.
2. Figure out what % of your income you want to give away and do the math. (10% is a good goal)
3. Roll on over to http://givv.org and set up your givvlist. Every month, your "charitable foundation" does its thing.
Let me know what you think,
Jason
"Stuff"...the striving to have more 'stuff'...and to hold onto the 'stuff' we already have...brings us into spiritual and financial bondage.
The concept of 'enough' has been purposely cast aside by the advertising industry...and through their 'programming devices' they have trained up (programmed the minds of) the last two or three generations to crave more "stuff". (Why do you think they call it "television programming"!?!)
The measure of continuing freedom and future blessings for our life...depends on the measure of what we are willing to release from our life that will bless others.
-ME
Hey Derek: Awesome!!! As I'd read earlier, I'm getting ready to start my indie artist mgmt & mktg firm.I'm truly aware of the fact that happiness is a "inside job" and that money, fame and/or material things will not be able to make me happy. They would just be tools to get my life's purpose accomplished!!
I'm just looking for the opportunity to help indie artists get their work into the mainstream of our society!
If I'm able to accomplish that, then I'll have lived a happy and successful life, because I will have achieved what I do believe is God's will for my life!!!
All I want in my life is to be able to get the bills paid and to help the world's best undiscovered independent artists show their God-given talents to the world!!!
Sincerely,
Grateful Ed ~ Not The Grateful Dead ~
Great stuff Derek! Wish I had more to say in this comment, but I'm speechless at the moment.
Brilliant, again, you are my hero Derek, this is simply freaking brilliant!
Simply explained and beautifully executed.
Those were some pretty smooth AND selfless business tactics.
While I'm not about to embrace asceticism, I feel similarly.
Sure, my bank account steadily grows, but my lifestyle remains unchanged, because I simply don't NEED anything else. A roof, groceries, and the few music making tools I already have are basically all that I need.
What about wants?
Why want anything that you don't need?
(I should clarify that the reason my bank account is growing is because I'm not spending any money).
Yes,now you sound more like a Sage. 1.1 million per year, even if no growth should be enough to live on. As the sages said," the greatest wisdom of man is to know when enough is enough".
what else can I say besides ratifying others. Great move! Smart, wise and generous (not altruistic, as you had mentioned). Indeed, a role model to be followed for all.
This is the spirit of Christmas. Thanks Derek.
You get the gig. Thanks for sharing that. I had no idea! Speaking of great gigs, I'm a music therapist by trade and I just received an awesome donation of instruments for my clients from a group called Blue Star Connection--they make sure kids who are really sick have instruments to play....check it out everyone....www.grandblues.org and click the Blue Star tab.....
Derek,
You've achieved what so very few people do in their lifetimes. You have been able to deflect all the noise around you - and listen to and act from your own true voice - your values - what gives you true satisfaction. Thank you for having the courage to do so. You show that to be and do something "great" with our lives we must begin with gratitude for our daily portion of "enough." Your story is like the one of Jesus on the hillside passing a few loaves of bread and fishes around to feed the multitudes and having leftovers. Your story is an excellent example of how there is potentially enough for everyone to have a portion of the good life.
I think the best part is that you said "I've just learned what makes me happy. And doing it this way made me the happiest." I feel that is one of the greatest challenges to people is finding what happiness uniquely means to them. Thanks for sharing and Great Post!
wow!!! whats best is they will buy no tanks and incarcerate no one with ur money... as i am back from my mentall challenghes... and again, in rare form, i salute ur 1780 values of laizes-faire... 250 years later it is where my priorities still lie... back then people fought and died to be tax free... and today folx really believe u should pay taxes and i still see how evil they are... i
would rather do some time than give a penny to jack booted gov't thugs... incedentally, if i do not get on my own case to look inward and motivate, no one else will for i have no boss figures to evaluate my production and tell me that i am slacking... therefore from time 2 time i have to kick my own ass... sorta a motivational semi annual housecleaning my mind allows... but it worx as i have a brand new company vision i can say nothing about at this time... and i will make sure no taxes it will ever pay despite the personal dangers this mite cause... aaarrrggghhhh, rc pirate
I'm so impressed on so many levels.
First, that you could create such a successful business, helping others become more successful (which is a trick in and of itself!) and then that you could build that business to the point that it was worth 22 million dollars.
Then, that you would have the brains and the heart to create this trust that both sponsors the good things that you'd like to see in the world WHILE still ensuring that you'll never have to worry about where your next meal is coming from. Brilliant.
To the person who would have built themselves a state-of-the-art recording studio with the money: studio time is always easy to come by if you have the money for your project. Let someone else worry about maintaining the "state-of-the-artness."
The person who criticized you for not keeping the money to invest in a future business without "having to suck up to bankers," should recall that you started CDbaby without major investment capital. You simply charged a small fee for each CD someone wanted posted on your website, and then received a flat fee per CD sold. Fair, reasonable, equitable and brilliant. The right business at the right time. If it hadn't worked out (if very few artists had wanted to jump on your bandwagon), you would have sustained very few losses.
How does someone with a musically educational project apply to your trust? ;)
This is the meaning of "smart" money and true choice. Really really impressive, well done. The world needs more of this!
Derek,
You are what I want to be. Being in the company of someone who has completed this part of life's puzzle is an absolute honour and blessing. Thank you for sharing yourself with us. I consider you a friend and mentor.
Blessed are those who have enough.
Deanna
Thank you Derek (and my guitar students thank you too.)
Way to go Derek! Thank you!
As I said befo, confucious, back seat please!
thank you for being fiscally responsible to your life, your community, and your legacy. inspiring....
That's both inspiring and humbling.
Derek, thank you. Have you ever read "The Treasure Principle" by Randy Alcorn? One of my favorite principles from the book and my main goal financially in life is to "increase my standard of giving, not my stardard of living".
God Bless, Glen
"God demonstrated his own love toward us, in that, while we were yet sinners, Christ died for us" Romans 5:8
Derek! I just love your choices! You show the value of humble living opposed to greed. What a beautiful gift for musicians! The music education shall florish n I think bout August Rush wisdom. Yes I am happier then ever living with 30K of stuff; have zero rent; am not in the system; n have never been freeer in my life! Travel the world on minimum funds 'n am abundant in adventures. Of course I did have the BMW n all the stuff once! Now I teach others the power of detachment from stuff that's clogging up the planet. Meeting musicians from all walks of life n being inspired by musical kidz who 'listen to the music of life" out of the box is worth every moment! Derek you rock!
wisdom
Derek the world would be a better place if there were more people like you. Musicians everywhere who already hold you in high esteem will be blown away by what you have done.You are one hell of a cool dude. Always your friends David & Maxie
Wow! Great post, Derek, really!
You are the the perfect combination of brilliant and humble. I love your posts! - Pauline
I'm a member of CD Baby and I thank you!!!
You da man Derek. I really appreciate the way you think and live.
love and peace~
Louis
truly inspiring... thank you for that!
amazing story. You are a brave and amazing person. Probably one of the few that would do this.
Bravo, Derek, for knowing when you had enough.
If only more people had the same motivation- for others maybe wealth means power, and keeping (or expanding) that power means accumulating ever more wealth.
I wonder if you would have proceeded differently if you had any children? People often want more for their kids than what they had themselves.
That's a great story and a even reality if its true. I can't beleive you worked so long and hard to give away the fruits of your labor...If you (truly)gave it away...
Giving sends your brain a message that there is more than enough!
Aloha Derek!
What an act of love and faith in the Universe. You have been provided for every step of the way and now will be giving to others even after you leave the planet for hopefully, the Celestial Shores.
Jimbeau
brilliant!
Derek I just sent the latest blog link you sent about giving to charity to many!
The ripple effect of everything we do never stops and when it is for the benefit of all, the whole universe dances and sings for joy!!! And God smiles.
You are amazingly inspiring and light years ahead of your time.
Thank-you for sharing.
Joy
each of us is a rose from the garden of heaven spreading the fragrance of god on earth!....by judy joy jones
yes ..brother you are an example
to the world a true hamanitarian
spiritual not in material staff..
i will do the same ...
u r one of the best
with out you ..where all of the talents from cdbaby would be
we honor you ..i mean it ....
thank you so much
good job! thanks for all you do! elliott
Thanks!
Awesome story Derek! “Happiness is not getting what you want … it’s wanting what you have”
Nice! Several years ago I was able to spend some time (doing research) in the Highlands of Papua New Guinea in a very traditional and quite poor (by western standards) village called Herowana. My kids (then 9 and 12) were with me. One day my son burst into our hut after a day of hunting in the forest, exclaiming "Mom! These people have nothing and they are so happy!" I told him to hold that thought..... Sounds like you found that same truth.... Thank you.
Thanks for sharing your story. This is what we all should strive to do in life.
We don't need excess, what we need is happiness.
Inspiring Derek. I, too, try to live simply. I've just gone through another round of "I don't need this thing." Still need to do more.
One question: You said you were safe from frivolous lawsuits. Was that something you were worried about while running CDBaby?
Never very worried about it. Just one additional bonus. -- Derek
DS,
I was about to forward this to over a thousand friends, some of whom are soldiers, but the little dig on Iraq made me wince. It wasn't necessary to get political to make what is otherwise a wonderful point. A lot of people believe in a strong national defense and you gain nothing by marginalizing them and the people that agree with you already agreed with you.
I know, how petty of me. You are still The Man.
I want your babies Derek!!! Well,not exactly... But I do think you're rad and you inspire me everyday to move forward in my career/passion and make me want to be a better person.Not to mention that both CD baby and Hostbay have helped me and my success in more ways than I ever imagined. You're the best!
Xoxo,
Amanda Richards
so right, Derek - this is true!
that first paragraph and the closing line: "I have something he'll never have, ENOUGH," is so powerful. thank you Derek!!
great article. you have done some amazing things. i agree with you about having too much. if everyone had your mindset we would have a better country. hope i can achieve half the success you have had. keep up the great work!
Very creative and inspiring! Thank you for sharing that information with us.
Stunning, brilliant and lovely, all at once! Congratulations on making such an eviably amazing decision!
Admirable - not that you gave the money away... but that you know what makes you happy and actually did it......
Fantastic post, Derek. If someone wants to do the same thing, what are some resources where they can learn how to do it? It sounds like a complicated and expensive thing to do, especially with lawyers.
You my friend have found true spiritual wisdom! As my grandmother Mary Taylor King said throughout her life, "If you can help one 'somebody', your living won't be in vain". Derek, looks like you made her smile so big the light broke through heaven and shines on you!
Yes Derek, good word, you have been a great blessing to many people because of the vision you had and went after it.
Reff:
http://bible.cc/philippians/4-11.htm
Brilliant Derek, simply brilliant, long may you continue to inspire people and lead by example
One Love
Alex
Derek -
If only all hipsters could be like you, the world would be a better place
Thank you for sharing this. I learn the lesson of having enough every day. Just last night I watched E! as Kim Kardashian bought a brand new, customized bentley. I looked at that in disgust. Why do people blur the line between need and want. I am going to share this blog - thanks for being open. Coming from someone who has music on CDbaby, has made CDs through Discmakers, and is in Nashville living out the dream of living for music - THANK YOU!
Thanks for sharing this, Derek. VERY inspiring! I just love the way you truly walk your talk and make a real difference in the world! Thanks again for all that you do.
I'm astonished at the number of people who misread and misunderstand, and go away thinking Derek is saying he's raking off a million dollars a year and calling it 'living simply'
Not. What. He. Said.
Wow!What a story!But,since I have known you and cd baby..it doesn't surprizing..you are a person of character.....wishing you all the very best...
I just loved this blog post. I'd like to add just one thing about accumulating stuff. I prefer to only have stuff that enriches life experience like: a beautiful musical instrument or technical outdoor gear. If I don't use something for one year, I get rid of it.
-- Derek
Thank you for supporting music education. Speaking of which, our school is doing much better.
Best Regards, Marc
I agree. I love my laptop, my Kindle, my tea-maker, and a few other handy things.
You rock, Sivers!
What you did is so clear & beautiful!
Love
L.
AWESOME PLAN DEREK! Tell us more about the Independent Musicians Charitable Remainder Unitrust... Who is on the Board of Directors? How will the funds eventually be used? The only catch that I see is that you have to move on before the remaining funds begin to be put to their intended purpose.
Thank you so much!!!
No board. Just named a few music-education charities in the trust document. It's like a will, in a way. -- Derek
Derek,
I sure can pick great heroes! You remain on top!
XO Allene
wow, what a fantastic story! thanks for all you've done for musicians and aspiring musicians!!
I've known you since almost the beginning of CD Baby and mp3.com and have to say you constantly amaze and inspire me.
Carl
And now you are looking through eye of the needle. Can you say no brag just fact? Give it all away and live totally by faith and you will finally do something worth bragging about. We get what we need, like it or not. Having too much is as much of test as being poor. Are you really passing? Only you can know.
Well done! What an inspirational story. I guess you typify the phrase "Enough is enough!" Happy Holidaze to you!!!
KUDOS! What more can I say?
Dear Derek,
Your description of what you did is beautiful. The world is a better place because of your work and contributions. You are deeply appreciated. Thank you!
Steve Bruce
Derek, how dare you tell the best story I've heard all year and say "no need to comment". That is a life changing story my friend! It at least has changed mine!
Thx for being you.
Chad
I've always said my singing is free - it just cost money to move my stuff
always an honor to read about those peoples who makes the world a better place to leave, you are one of those, you inspire me to even work harder to become one of those at this scale. God bless you.
Great, Great writing!!!
Ladies & gentlemen, we have a new Budha!
Keep up the good work Derek!
Great stuff as always Derek. Very smart, forward thinking and selfless. We could all learn a lot from this example. Definitely inspiring, thanks for sharing.
Derek:
I get it and fully agree and understand your philosophy re money and things. Living simply and doing for others are qualities that are spiritually inspired borne from inner wisdom and life experiences.
Thanks for sharing this and I hope that all musicians and fans of CD baby follow your example and pass it on and stop being greedy, selfish with "things" that can't make them happy.
As an International artist who has enjoyed success this has been my philosophy for years and I give and give and give and will continue to until I am no longer on this planet of greed!!!.
Peace and more Peace to all!.
Norma
Derek; Again you have inspired me.We are not so different. That's why I started my web magazine,was to help musicians. I've had the big house and cars and fancy friends and all that crap.I have very little in terms of things and net worth. Happiness is not measured by how much horsepower I can afford but by what I feel at the end of the day I've contributed.Thanks Derek
Thanks, Derek! Very inspiring and thought provoking.
Well done, I have a similar plan with the remix label! Thanks for sharing the story.
Hello my friend online of so many business years
Oh with this article my first impression of you from back in 2000 (or when you first contacted me online years ago) was correct.
I am as a professional musician etc. VERY proud of your choices made but can you tell me privately the name of your business aka lawyer who set this trust up or legal consultant that gave you great advice?
You & I should sit over an espresso someday ok?
Ciao,
Nikki
Hey Derek Im sure this action will have better results than you would expect!
thank you for sharing that
Undeniably, you're a genius. The other thing you have that most people don't is the innate ability to strategize and see the whole picture. That is of great value.
Nice. I wish Ayn Rand were still alive, just so we could watch her head explode after reading this.
Simply perfect!
Hi, Derek... I've been at cdbaby for a long time, and follow you from a sense of loyalty for the gift you have given me. I don't have any family, and never felt compelled to self promote, but your window (cdbaby) offering a global forum for my music that goes beyond my home here in the middle of nowhere has made me somewhat of a commodity among those who value the music you have helped me present. Out of loyalty, I thought that a guy with as good an idea as cdbaby who knew how to implement it might be someone I should take an interest in, so I subscribe to your emails. I don't read them much because I am lazy, but I did read this one, and I feel like the best judge of character ever. You rock.
Derek,
Thanks for the inspiration.
Derek,when i first joined CD Baby 6 years ago, i could tell you had a certain kinded spirit of kindness and generosity that couldnt be faked. I learned long time ago that all this stuff that we build just complicates life. We all forget about the important things in life such as a true love,a friend or other people that will love you regardless of your money other possesions. Money and things only have value because our value sets has been misplaced.Im a 20 year Airforce Vet and ive traveled all around the world and Americans seem to be very off track with things. Thats why ive donated several of my songs to the Music for Troops effort on my website because there is so much more satisfaction in giving than receving. Keep sending the posts they are always thought Provoking.
Rick Stallworth
Derek.. that was the ultimate gift ...glad you shared that story ...that deed will be the seed for the future generations of indie musicians everywhere ..what an incredible thing you've done...May God Bless You!
If I'm not mistaken the intro story about two friends was an actual conversation between Kurt Vonnegut and Joseph Heller... this has been one of my favorites for a long time.
I really believe "enough" and "share" are the modern "riches".
just when you think you need more, I read stories like this and they inspire me ...Thanks Guy
Very cool! All your hard work, passion and wanting to help a few friends has been blessed. May your remaining years be blessed as well. I believe God put all those desires in you. Have a wonderful Merry Christmas or Happy what you celebrate! God is Good!
just another reason i think of you as the most admirable mind in the music biz. thanks for all you do derek!
yes.... in so many ways the biggest challenge as a human is to channel our yearning for 'more' into positive things.. More peace, more contentment, more love... ultimately more consciousness and more of being in the moment in the best possible way we can! Thank-you as ever for sharing Derek : )
Beautiful! Don't you just LOVE artists and how their minds are connected to their hearts, while their spirits are so perfectly aligned with the universe.
Stay beautiful!
if i were single, i'd be chasing you-what a terrific guy!
You have an order of intelligence far and away superior to most. I'm glad to see that a huge heart came with that enormous mind!
Derek - as always, your words of truth and wisdom prevail. In addition to letting go of “things” … I let go of the music industry in its typical format years ago to find my “true” self and embrace songwriting from a place of "higher consciousness". Disconnecting from consensus reality has been a freedom like no other. It’s great to know that you are leading the way to a much more fulfilling realm of life on planet Earth.
There is a saying - "When you are ready, the teacher will appear".
I believe you are one of those amazing teachers that others may learn from ...in due time of their readiness.
Love, light and peace ~
That is so sweet. Mathematically sound and all that, but so sweet. Derek is as sweet as that little kitten he posted the other day. Sooo... has your mother published any child raising books?
So simple, yet so powerful. I never knew the story behind the sale of CD Baby but I am pleased you have shared it. That is truly a powerful thing you have done, now if only the millionaires and billionaires f the world could get it too we can begin to move forwad with humanity.
What an incredible story to read at a time of the year when the focus seems to be getting more "stuff" that we don't really need. Your life and the way you live Derek are a wonderful model for all of us. Thank you.
You have a wonderful view on value Derek. Thanks for helping improve my own. Good luck with any new ventures you help create!
You did the right thing.
And absolutely, Less is More. No question!!
Therese
A wise man has once simplified his existence to the point where he traveled the globe with no other possessions but a drinking cup. Then one day he saw a little boy by the fountain cupping water into his little hands and drinking it. "What an old donkey, I am!" exclaimed the philosopher and gave away his cup. If happiness is the fruit of expanded awareness, then awareness is the fruit of deliberate simplicity. People who choose this route are no doubt the Saints of the world! What an inspiring modern real-life illustration (and confirmation) of this timeless principle!
Nice.
As always, another great story of one mans ambitions,intelegence,humanity and wit...'Goodonya' Derek.
William Tell.
You are a genius who has not let the pride and greed of life get in your way. I am honored to know you and will try to follow your example.
Uhmm. I remember writing an article announcing the sale for my italian publisher... ( http://mytech.it/digitale/2008/08/07/derek-sivers-cd-baby-venduto-disc-makers/ )
Thanks for explaining in detail.
Negative side of it: none of the money actually goes to charity during your lifetime, doesn't it?
YOUR A GOOD MAN DEREK,LIKE I SAID BEFORE IF ONLY THERE WERE MORE PEOPLE LIKE YOU IN THE WORLD, MAYBE IT WOULDN'T BE SO CORRUPT!!!
Great article!
Really made me think about what I really need and what truly makes you happy.
Thanks for writing it!
Chad
I really loved reading this one!
I always love to hear about someone's success but not by climbing the backs of others, but rather by their efforts to stop and help everyone else rise to the top while sacrificing their own success. It is too bad that there aren't more people in this world like yourself. This world would be absolutely amazing if there were.
Something that I keep telling myself is that while I am living today, how do I want people to remember me when I am gone.
Good job, Derek!
Solitoode
Thank you for your great generosity and insight! Bravo!
Derek, I love you.
(But not like the love of a man for a beautiful woman...)
There are a number of honest, good people I have met in the music industry in the past 16 years, and I think you are my favourite.
It's interesting how when you act from your true self, rather than the ego,how much good can come from that. You may not want to admit that you are, deep down altruistic, because you want to help musicians. Thank you.
your attitude toward possessions
is very smart and very enlightened.
and cdbaby has benefitted many of
my friends, so i thank you for that.
thirdly, your trust sounds excellent.
so i hope you will forgive me if this
sounds like an irreverent question,
but did you ever consider channeling
the proceeds for the sale of cdbaby
back to the artists contained therein?
i have all kinds of respect for the
intelligence and the gumption that
led you to birth and nurture the baby,
but its fantastic value upon being sold
was, to a very large degree, based on
the musicians who threw in with you.
so shouldn't they have benefitted too?
-bowerbird
Now that's what I call a show!
A Life to Live By! Thanks for generations!
I feel exactly the same way, always have..
I have my music and songs friends health and a roof over my head..
the less I have the lighter I am -
THANKYOU DEREK
When you say the trust will be passively investing to earn 5%, you might be interested in the Mission-based Investing approach where endowment assets are invested in things that will generate the required return and still contribute to the mission you are pursuing. There are some great examples (heron foundation is one of the leaders) - happy to provide pointers connections if you are interested.
btw... thanks for sharing and setting the example.
ps - you are an inspiration -
Amazing I don't think I could do that, but I also know that while I always want more I will never have enough, but its a hard habit to break but maybe just maybe I could be inspired by reading something such as this.
Cheers Derek you are one in a million.
Gerald
Derek, this is the reason I try to turn as many of my people as possible on to your blog, your work, and your overall life. Once again, good job man.
It must be wonderful to be able to help so many musicians. I can tell by your laughing eyes you are
very happy. Now I know why.
Frances
I know that you have many people complimenting you on your honorable actions, but I still felt the desire to express to you just how much I salute your valient efforts and all that you have done to promote music Education. As a past Music teacher, and a Musician and Music Lover - I join in the passion you share for this Universal Creative Expression! Thank You from my Heart of Hearts for your *In-Spiration* and for All that you ARE! Most Sincerely,
Heather DeRigo*******
Hi Derek,
Fantastic!!
Thank you for your story.
Less is more, money doesn't buy happiness.
Your life's journey is remarkable.
God Bless,
Barbara Dee
The sole pursuit of materialism ultimately consigns a person into a world surrounded by those who equally revere material things. It is a world that is a magnet for parasites, scamsters, and vacuous personalities
An inspiration! It was.
Thank you for sharing this, Derek! It's interesting how we feel better when we own few things. I have a special page named "Live Simple" on my home page where I share thoughts and advice about simple living. I just put a link to your article there, Derek.
I also display a picture of a poster I bought from the great company OSC (the developers of the audio sequencer Deck, which Digidesign used when they developed ProTools). The poster is very intersting, and you may take a look (and feel free to download it) by clicking on my name (I hope it works..).
Wow Derek. I always thought you were a good guy just from the way CD Baby was set up and treated it's customers, including me. VERY few people in the world that would do what you did. Alas that we don't have more like you.
BRAVO!!!!!!!
On so many levels.
Interesting story.
You are soooo right Derek, I know that God will richly bless you for what you've done. Less possessions will truly give you more freedom and GIVING IS THE BEST FEELING I KNOW.
We all know the ever true words of Jesus "Lay not up for yourselves treasures upon earth,where moths and rust doth corrupt, and where thieves break through and steal..."
I've searched for over 30 years for something to fill the hole in my heart, I was never satisfied. Money, alcohol, drugs, women, fast cars made me happy for a moment in time.
There are hundreds, if not thousands of books, tapes, cd's, tv shows and such, on how to change your life, make money or find happiness (usually it's about money). We want more and more. We are brain washed from every direction. We all want to be like celebrities, wear expensive clothes, drive fancy cars, we try different religions, we slap brand names on everything, even our bodies. We pretend and try to be someone else or like someone else, our ambitions are eating us up. Do we really hate ourselves so much ?! What happened to the "real me"? Giving not wanting is the real and most satisfying pleasure.
carrying water uphill to my renovated chicken coop and splitting firewood, my fire is shimmering. I'm feeling so connected to Source; unfettered by human explainations. This morning, as the moon was setting and the gentle sun was sniffing the sky, I scraped ice off of my windshield and sang "Tis a Gift To Be Simple". I've been around this bend enough times to know...this too shall pass. Enjoy this love uncloying. Thank you.
Greetings D.,
Maximum love and respect...you are a truly heartical brethren...your blessings shall increase tenfold just from that one move alone!
JAH bless,
Jahmark
That is all said and good, except for the fact that the kids who need it most aren't in school. They learn on their own and forgo any formal training. Meanwhile, the company you started that helped people help themselves has went from cd baby to cry baby. Thanks for helping future generations learn music, but now return to square one with no help for the indies pre-cdbaby.
My daughter's about to have her 1st birthday. My sons are 8 and 14. To think that they, or their kids, might benefit from your generosity deserves a giant thank you in advance. You've made the world a better place.
Derek, you were always so smart about money!
congratulations, and thank you for sharing this. you inspire me greatly.
thank you for encouraging us, Derek, and for being real.
Godspeed on your journey...
peace from Atlanta,
J.A. Etchison
www.jaetchison.com
Hey Derek! Nice to see your emails again. I always wonder what I would do if I had everything and had been everywhere in the world and done everything? And I always come up with, the only thing left to have would be either Sadness and boredom from over indulgence and selfishness, or Happiness and positive energy from selflessness. I usually pick the more positive choice as you have done. Maybe Wealth should be measured by one's love of life and willingness to see themselves in others! Thanks for the inspiration!
Hi Derek,
This has got to be the single most profound thing I've heard from you. Your point about having "enough" says it all.
That concept allows me to do things I would never be able to do if I didn't thing I had plenty "enough"... Am I rich... Not by a long shot. But I do feel I have plenty "enough"...
Continued to success to you...
Dennis
Derek-Your my twin (brother from another mother!) You've mastered what life is all about,giving your best to help the less fortunate! Kodos to you!!!
Wow! you deserve a grant.
Sharing your story has moved many people and reflects a virtue that most have not considered. I hope you continue to share with as many as possible. It's inspiring and thought-provoking and may lead to an abundance of selfless acts. Thank you and God bless,
michele cintas
(San Diego Realtor)
Inspired ;)
Fantastic!
a reason why you connect to so many people?
you're able to put into practice on a large scale what so many do but on a much smaller scale.
... as my dad used to say ..... "how many pairs of pants can you wear at a time? Do you need it or do you just want it?"
....oh yea .... he was also fond - when we were kids - of saying 'but is it constructive?'
you're constructive Derek, and this makes you part of the solution
In a way, this is what all music teachers do, who truly love what they teach isn't it? Those that we teach will pass that love of music on to future generations, and so on and so on...
Thanks for the wonderful reminder to appreciate myself.
You are truly blessed.
Betsy Grant
You go Derek!
Hey Derek, man that says it all !!
God Bless,
Poetry
Hi Derek,
Yes very inspiring. It's really helped me out with an idea for a project I had in mind. It's given it some momentum now.
Thanks!
You're an inspiration.
Derek,
How did yu do this? where do I get the information about it so I can do it? LOVE IT!!
Hi Derek, Good for you and thanks for giving me the chance to get my own songs around the world via cdbaby.com. You gave me a voice and a lot of inspiration. I've been places I never would have and done (legal!) things I'd never done during my previous fifty years of performing my music!
May God bless you.
Happy Christmas and keep smiling.
Dennis Derby
Your basic living expenses are 2.2 million dollars a year? And you're not an old chap,you'll live another 20 years. That's the entire value. Total blatant tax Dodge, nothing more.
Derek - this seems like a great idea, but I ran the numbers quickly in a spreadsheet and with a 5% distribution and perhaps an 8% annual appreciation with the investments, it seems the Charity will only retain about $2.6M and you'll earn $13M (after taxes) over 40 years. Wouldn't it have made more sense to pay the long term cap gains now, then donate $2-3M to the Charity? What about the time value to the money?
thanks derek,
you always seem to write something to help me put my life into perspective.
things don't really prove you've lived living does that.
i remember i was in hawaii several years ago went and saw the seven sacred pools amazing, climbed a tree, swam in the pools, i was there lol. as i was leaving taking one last look at the falls a huge tourist bus pulled up with all the curtains drawn, a swag of japanese tourists got out, stood in front of the sign saying where they were, with their backs to one of the most magnificent sights you would be blessed to see, took their photos and got back on the bus and drove away. all this without actually seeing the seven sacred pools. I was gob smacked so went and climbed another tree for them. they would have gone home and showed the slide show with them standing in front of all the signs to the most amazing places and never experienced any of them could have purchased the dvd and stayed at home no jet lag and saved several million yen.
lol a little off topic i have no company to sell or give away for that matter although i do have "my" company which i share on a regular basis ;)
happy days
thanks for your generosity
"You should run for something." Please don't...
"Total blatant tax Dodge, nothing more."
I couldn't disagree more and it is a little callous to judge your good fortune like that, and dismiss it as "a tax dodge"!
Still, there is a question I have for you...is there ever a time when you think 'enough' is not enough? Like maybe that 22 mil could have been grown even more (to help music education) by starting another venture...your own charitable foundation, or a not for profit music school even?
You are still young indeed...and everyone that has had some contact with you in some way, whether through cdbaby, or else where wants to inherit a little of your vision. We all feel your passion for music and a peaceful, loving world, a world of peace not war. We (especially musicians) would give, from our heart of hearts, the same as you with our good fortune.
We are watching you, Derek, and learning the steps we will take to give it all away one day(you can't take it with you). Thanks for the lesson in advance...but please, Don't Run for Anything! We want you right here...on your blog;-)
beautiful. thank you for living outside your "self" in such an inspiring way.
I think it's cool you gave it to charity. It's not like anybody forced you to do that. Good for you.
I admire what you did... and resonated with what you said.
I bought a cd from cdbaby a while ago and laughed with the thank you note that arrived in my email...so funny & creative! It was a good project. And now, the good goes on.
Congratulations, Sir!
With bright wishes for the next leg of your journey,
Nancy
When I wanted to be rich and own a Ferrari, before I learned what life was about. My uncle a rich man said all you need in this world is money in your hip pocket. I didnt agree at the time I was younger then. What was the use of money if you weren't going to splurge on luxuries. So Derek has it all with money in his hip pocket. With that he can stay in a unit hire a car jump on a plane and not have to worry about losing a thing. Saves on insurance too with nothing to insure... Way to go Derek just hope one day someone appreciates what you have truly done for others. I saw a person in my area give 1 million away for local childrens sport after he died... It caused a split in the community with one third borrowing another 1 million and building a rec centre in a pokey country town. Now they are in dept now they have big overhead costs and really it was a bad thing to give others control of money they hadn't worked for. Now the rate payers pay. However though Derek what an unreal beautiful thing you have done...I hope your ghost can stay in control of it and kick ass to keep it going to the right people and places after you go.
Derek, you know HOW to live.
And I believe you also are thoroughly enjoying the Journey of Life, as well as stopping to smell the roses, instead of rushing and hurrying along the journey and never enjoying it.
So many people want to achieve the financial success that you did with CD Baby, but don't enjoy the journey, or even their achievement when they arrive at their goal.
You merely arrived at an end-point of CD Baby, of that particular goal, but went on to make other goals for yourself (and others too, with the trust and with your blogs, etc.).
You are an awesome role model.
Thanks, Derek.
wow... thats the coolest thing i've ever heard!!!!
Now that is what I call living life. Like the animals in natural. Having only what they need and living there lives. Enjoying everyday instead of collecting thing to impress others.
If only we all had the strength to be like that.
'Things', and the need to accumulate insane amounts of them, will be the downfall of our society.
Thank You Derek, we need a whole lot more like you.
A very very smart Ideal, a great way to get paid tax hassle free.
Well done.That is a good example for others to follow.
Great move, Derek, and God bless you for your carring for other musicians in that fashon.
My best to you,
Ted Sousares dba: Sousa-T Music
....and the good guy WINS.
Inspiring!
That's so awesome Derek. I wish I was more like you!! I'm so deep in debt I'll never get out in my life time but I hope you are an inspiration to others before they make serious mistakes. I know you're an inspiration to me.
God Bless,
Phil V
Derek,
When I grow up, I want to be just like you!!!!!
You are the best friend in the music business that I have. You make me feel good about myself but also fearless about being me! I read your article on your wise teacher but I think that now you have become that WISE master teacher. Teaching a world of musicians through your integrity and humanity!! Bless You!
That was noble! I too share your charitable disposition. What a remarkable thing to do and moreso have the wisdom at such an early time in your life! You are certainly a role model. Blessings!
Everyone here pretty much said what I wanted to say and probably better.Except # 332, but he is entitled to his opinion.
Derek,
When you own musical talent, like being a composer or a performer
(like most of us), you own the biggest, most expensive and intangible value: you own the power of making music, the abstract world, the MOST abstract world, so at the same time it's priceless, it worth's nothing; so the challenge is to convert it into the tangible world, MONEY (what you did and many of us also do). The wise part here when you took your decision is to convert it again into that abstract world and giving it out to the next generation through education (the tool!), the perpetuity of human kind, at least for musicians. So the cycle goes on, like a pendulum, has to navigate between those two worlds constantly, that's the challenge. It has been done for years in human history, in different ways; but you opened a new door, the INDEPENDENT door for musicians and broke the rules, that's your value, your assets, the wisdom of doing this cycle in the independent and international (without boundaries) world, and that's huge, invaluable, intangible. Did you think about this when you took your decision ?
God bless you Derek !
I have always found you inspiring for many reasons. Yours is the only blog i follow in fact. And like everyone else, i had no idea about all this. I assumed you made a lot of money when you sold CD BABY but i didnt give it much thought.
believes she has enough. So who is more impressive? My unemployed girlfriend, or Derek?
From reading most of the comments however i feel like people are puttin you too much on a pedestal for your actions and being doing so, taking THEMSELVES off. The fact is gazillions of people struggle every day to make enough money for food and shelter. I believe MILLIONS would do exactly as Derek did IF they could but the fact is Derek is in the .000000001% minority. Derek won the lottery folks. When you win the lottery (which is about as likely as landing good major label record deal) you too can make grand philanthropic gestures, never have to work a B job again, and live 'simply'. Lots of very smart people die hungry. Its important (i think ) to recognize that Derek was in this extremely unusual position AND that many would have done as he did IF they could. Its smart, its convenient, and its ...duh...just the right thing to do when you have more than you need, to come up with a way to give back. As i speak my partner (who lost her job due to the recession) is trying to sell her possesions to avoid having Wells Fargo take away her home. Despite this, she , like me, like St Derek Aquainus
Wow! I had no idea! That is an amazing story.
You know, Kurt Vonnegut, who you quoted not so long ago, once said that no writer needs more than $150,000 a year to live a great life. This definitely falls under the "great minds DO think alike" category, I guess.
What a great post! It definitely helps put things into perspective.
Derek,
I said I was amazed and humbled by your generosity, but that was before I even knew you had done this. I was talking about all you've given back in time, energy, thought, encouragement, and enthusiasm on behalf of others. But this...wow. I'm just blown away, bro. To see somebody walk the walk like this -- it has ramifications in the hearts of others that you probably can't begin to know, and nobody can begin to value.
Dear Derek, Your offhanded and balanced perspective reminds me of the tone in interviews with organ donors, foster parents, habitat for humanity volunteers, and inner city tutors: you have enough, you can help, it makes good sense. No preaching or moralizing - it just makes you happy. And being bright, you get a special delight from turning the pieces of the tangram around to solve a puzzle at the same time. Bravo to you!!
You super hero you!
U gave away ur company? Were u into the business for the money or because u liked what u are doing? Philanthropy is good but arent u compromising your integrity by giving up your company? Please read The Fountainhead by Ayn Rand.
I feel grateful and inspired by your example, Derek! Thanks!
Now that's what I call unselfishness, unconditional love for your fellow man/woman. God will continue to bless you because you do not put money first in your life, and you truly think of others. I like that living life the simplier way. I think in a simular way.
Derek,
I knew the first time I heard u speak and met you in Hollywood for a DYI Music conference that was free to cdbaby members there was something very special about you. What you have done is so incredible, wonderful, deep and spiritual. I send you blessing. I too have been thinking about what I can give away. And how can I be of service and conect my music to a cause that I care about. I am choosing CASA for abused kids. Thank you Derek, for sharing this with us all.
Aloha
Because the things you own end up owning you. So you give yourself away Derek, in so many ways. And that makes this world a better place.
Thank you for everything you've done, thank you for this magnificent blog!
Very cool... you're a music hero!
Thanks for sharing this great part of your life.
God bless you
Sir, I salute you.
Derek -
I will give you half-credit on this one. Am I the only detractor?
First of all, you do get a $1.1 million tax free annuity. Second of all, while your money doesn't pay for bombs in Iraq - it also doesn't pay for mental health services and housing subsidies for the poor.
Also, the money doesn't go to "charity" - hate that word - until after you die - which appears to be far, far away - I would respect you more if you put half $11 in a foundation that is giving away the money is the next 20 years - and kept only $550,000 per year tax free for yourself. Especially since you seem bright enough to generate more cash - when and if you really needed it.
I guess compared to most people - what you did sounds extremely generous and altruistic. Like I said, I am only half with you. Better that you said you "sold your company" - you didn't "give it away" - if you did you wouldn't be earning equivalent of $2 million per-tax.
I work with homeless veterans and any people with serious mental illness and substance abuse. The most generous people are often people with little - who still give a lot - social workers, teachers, everyday sorts. I do ok and don't like to be treated as a saint.
You are obviously a cool-guy with a heart (and a brain) - so i am not completely ragging on you - and I assume that out of the yearly disbursements you probably are giving some funds out and your time to causes - and I would like to check out your new Muckwork project.
I do certainly agree with the philosophy of living more simply - trying to convince my girlfriend of that - but its tough - consumerism is the biggest addiction.
Just pepper your libertarian leanings with some bleeding-heart liberalism and conservative pragmatism.
Take care man -
The annual 5% payout from the trust is required by law. It can't be less. And it's not tax-free. I pay full taxes on it. After I receive it and pay my taxes on it, I can also give it away. I chose music education as my cause because almost nobody else does. Other people in similar situations give to homeless veterans or mental illness research or substance abuse treatments. This cause is mine and means the most to me. -- Derek
Absolutely inspiring in its' simplicity, I feel sure your story will lead others to make similar decisions... who knows where it may all end... Somewhere very good.
Big Respect !....I knew you were one of the good guys ! INTEGRITY ! being true to yourself and doing what you believe in ! taking a stand ! brilliant ! best wishes Si
I concur. I just don't have that company yet, so I continue to sell my time.
It's a very interesting thing...money. When you have lots of it, you think you'll be 'set' when, in fact, it becomes a worry. I know. Been there, done that. I relate very well to the idea of simplicity, and think that it makes a LOT of sense to give away what you don't need. I also deeply appreciate your commitment to giving to music education. Well done. What you're writing about comes from years of experience that can never be fully conveyed in these short blogs. Thanks for sharing.
Started to read Paradox of Time..what a mind boggling and important book!
Derek,
People like you are very rare.
How many people really know what they need?,or how much.
"If all people helped their neighbours,nobody would be without help".You are blessed.
thats really awesome work!!!
good luck derek. its definitely some learning for me!!!
Your best post ever. Thanks.
This is great. I know that music education is on the decline in this country.
Schools across are quite obsessed with science and math ignoring other important aspects of a well-rounded education (music, arts, etc).
My high school in St. Louis received a $28 million donation and they decided to put it all into arts (building a theater, music room, music education, etc). They have plenty of money for science, math, English, but nothing for music. And that school is well-known in Missouri for their band.
So this is great to see even though I am deaf and it will not benefit me directly. I do know the importance of music among people in this world and am glad you are doing this.
Good for you! Sounds like you ascribe to "The Gospel of Wealth."
Truly humbled by your gesture!
Absolutly right on; the wisdom of Solomon in action...
So often we chase after the very things that in the end make us miserable. You have discovered and shared a ceaseless fountain of treasure that many can drink from.
Thank you for sharing
I love this kind of thinking.
I hope you'll have enough for the rest of your life.
God Bless.
Great post this Derek. The idea of "enough" being a goal is something that needs spreading around.
Too much of anything brings problems.
I've learned that the answer to most of life's problems is to set limits.
Less is more!
Well done buddy,
You inspired me.
Thank you for all that you do!
You stand beautifully in your own truth...May this inspire us all to live as well and leave such a legacy. Thank you, thank you, thank you!
You are a good person. Thanks for everything you have done and will continue to do.
ya make me proud to be a human and american once again, may the world be better cuz someone named derek came to us....from heaven
kudos jamie gazelle
My mom always told me that, "if you've got your health, you have everything". You're much more happier than if you had went the extreme 'rich' route. God bless you man!
You are truly an inspiration!
A little north of me here in southern Colorado is one of my favorite places in the world, Valley View Hot Springs. It was owned by many years by a wonderful couple who ran it with great integrity and total dedication to preserving it's environment, while also improving the facilities and letting the patrons enjoy the incredible beauty of the place. Ten or fifteen years ago they began to think of the long-term sustainability of VVHS should they not be there to take care of it. They created a non-profit organization - Orient Land Trust (www.olt.org), named after a little ghost town on the property, and gave the whole place to the trust, after setting up enough structure to run it and do what is necessary. I have admired them so much for their dedication to protecting the beautiful piece of mother earth entrusted to them.
I don't know that I have read of another instance of this kind of generosity, combined with wisdom and intelligence, until I read this post. Thanks, Derek - I am inspired and energized - lead on!
You are a wise man. You made me cry. You didn't take a wrong turn at Albuquerque....
Rachel
Well done, indeed. An excellent choice and thank you for describing your motives and results.
I agree that the best part of creating success is sharing it. Giving back, paying forward, however one puts words to it.
Here is an article about music and learning (there are many, including new books, and research studies). Developing spacial awareness, self discipline, and social skills contribute to success in all aspects of education.
http://news.bbc.co.uk/2/hi/health/3095807.stm
your story is refreshing and inspiring
I feel the more you are given
the more you can give out and
are then open for new blessings
thank you Derek
That's the stuff!
You really did put your money where your mouth was - not many can really say that! Thank you for all your support of "ideals" and musicians. I hope you have all the health and happiness you need to enjoy your life.
good job great article
great article, Derek...I'm going to send it to a very dear friend of mine to give her hope. Wasn't bad for me either!
Thanks for sharing a story that I so relate to,,,you're an inspiration to all. When I lived in L.A., I lived with the rich, but played with the poor (they had more fun with less).
Makes you wonder if there would be any hunger or homelessness if other would be so generous. Life is NOT about money, possession...it is everything about relationships.
Derek,
Less is always more, especially when you're doing what you love.
Thanks for sharing.
Just remember...... Herman&Charly's motto...BE! (who you are)...DO! (what you do)...and then you'll HAVE! (what you have). And that's a great day!
Grazie Derek! Che bello! Hai acceso una luce in più! Complimenti e grazie ancora, Fulvio
In the end it's about the music - not the money - that's where the satisfaction lies - it's a truly magnificent lifetime journey and you only need the money to buy the tickets - best of the holidays to you.
Hey Derek,
I think that you've done a truly wonderful thing. Not finding material possessions important anymore has helped me to understand myself better.
Silvia Silk
i
Love it! Love it! Love it!
Derek,
This is absolutely inspiring. Thank you for having so much faith and trust that you'll always have enough.
you certainly showed all the fat cats how it should be done, well done for taking such an amazing and selfless decission
Inspirational stuff Derek, I like your approach better - I've always given too much of my companies away before building them into valuable assets! If I get this one right I'd certainly feel more happy in myself if I followed your example. Just seems like the right way to be.
Derek. All your posts are insightful and inspirational. Thank you for making a difference with your sensibility.
my bad, I read the trust rules wrong - yes, you do pay tax
on it. you are up to 3/5 credit from me.
But again, you didn't give away your company. When you "give away" something - you usually don't receive on-going financial benefits. That is my primary point of contention.
Derek:
Although we've never met, I still talk about how grateful I am that you started the company which is a benefit to us indie artist whose music would have never got out there otherwise. I hope you will stil stay in contact. I wish you the best. Thanks for everything and God bless you.
Not what we have But what we enjoy, constitutes our abundance.
-Epicurus
wow. just wow. i think it takes so much for a person to realize the things you talked about above. that money/ possessions aren't everything, etc. most people would just cash the check and move on. i'm so glad to have read something so enlightened
thats a good deed you done for people hope i can do the same some day,
Hi Derek,
Thanks for your post. I really appreciate what you had to say.
I visited Walden Pond one year and saw the tiny cabin where Henry David Thoreau lived for a year. It was sparse, to say the least. But he could write. That's what was important to him. They had items for sale at the shop nearby (things.....) that said "Simplify, simplify, simplify" I think if we could all reduce the number of physical "things" we have to deal with, our minds would be more open to creativity. We'd be producing ideas instead of more stuff. It's been my personal goal to simplify my life also over the next few years so I can travel more. That seems to truly increases human understanding and compassion.
I'd like to also thank you for attending so many music conferences and giving your time to encourage musicians. I've heard you speak a few times and saw your generosity and giving nature first hand.
I hope the future brings you what you desire. You seem to be on to something good....more power to ya, amigo.
Joan Enguita and Women on the Move
Raising awareness and funds for Domestic Violence Shelters
Hi Derek. I think what you did is just wonderful. I hope that I can be in a position one day to do the same. I miss all of the inspirational E-Mails that you used to send. CD Baby is still a great thing but it is not the same since you left. Good luck to you and take care. God Bless You.
I LOVE YOU! YOU ARE MY HERO! HOPE YOU KEEP CLIMBING THOSE LADDERS AND FIND YOUR YOKO TO SHOWER BACK THE LOVE YOU GIVE! THANK YOU
Really inspirational. You remind people to follow things with passion to make it big rather than follow money to make it big.
It sure reminds us of our perspectives in life.
This was a nice thing to read. Good for you, my friend! ;)
i prayed to God to give me the grace to be able to do what you did, give back to the community and be absolutely free.
thank you! thank you!! thank you!!! Derek for the inspiration and keep up with the good work, your reward is your rest of mind.
i must add this, may fire burn all the haters on this site if they don't stop hating.
Hi Derek-
Shows not only what a quality person you've been not only with CD Baby, but most likely in all aspects of your life as well...you've always been about helping others and you've known all along how important that can be! All the best to you Derek always! I still haven't forgotten how you went out of your way to help me...a huge thanks to Jody Whitesides as well!
Very Best Regards,
George
Complimenti di vero cuore,non conoscevo la tua storia,è stupenda,sei '' UN GRANDE UOMO ''che DIO ti possa sempre benedire.E' stupendo quello che hai fatto.Io al posto di Obama il Nobel della pace l'avrei dato a te.Sei un esempio per l'umanità che si occupa solo di guerre e di denaro.Il tuo lavoro prima in cd baby ha dato l'opportunità a tanti musicisti di poter dire '' Ci sono anch'io'',oggi la tua generosità dà a tanti musicisti la speranza di vivere.Derek non ho parole,mi hai sconvolto,la tua semplicità,la tua umiltà e la tua generosità sono quanto di più bello un essere umano possa essere per il mondo intero.Sono fiero di avere avuto la gioia dal Signore di averti conosciuto anche solo per e-mail.Derek tu sei il grano d'oro che sfama l'umanità.Che Dio ti benedica sempre.
One of your best blogs yet!
Hi Derek,
Can I ask, are you Vegetarian or Vegan?
No point in engaging in "selfless" pursuits if you're partaking in the wanton, horrific suffering and misery of innocent Animals
If you indeed ARE Vegetarian or Vegan, then you're truly a BLESSED SOUL in this evil, wicked and cruel world
Stop eating Animals and you will be doing the MOST for yourself, your KARMA, the Planet and of course - the Animals
This is the TRUE path of conscience and compassion - not just giving money away to barbaric, uncivilised meat-eating, ignorant, low-life, low-consciousness Cro-Magnon Neanderthals
Peace
Well done, well said!
I can't say enough how inspiring you are. The things you have done to support and further independent music in this world are simply aweing. Thanks to you for the millions of us that you have made viable in not only the current economic climate, but the current music business climate as well. Music as a whole, and more importantly as a business, has changed SO much in these past few years and you have led the way toward a viable future for many of us who will never see the "prize" of a record deal or even a real tour. Thank You so much Derek for your efforts, intelligence and foresight. None of us (musicians) could ever express to you just how much you have meant to us over the years and how much you mean to the world of music as a whole. You changed the game bro...and nothing but good can come from it in the future.
THANK YOU,
Terry Alan Martin
Ray Street Park
Detroit, Michigan
Thanks for being such an inspiration. Definitely feeds my mind with many thoughts.
Beautiful!
Well thought out, well written, well... although I,ve never met you,I know you.You may just well be the richest man on earth.
Great planning! I applaud you!
Rosalind Sendawula
What can I say....
congratulations!
Thank You!
Motivational!
Amazing!
Thank you!
Hopefully, You've paved the way for a lot of small start-ups/Entrepreneurs to follow in your footsteps.
Didnt know I'd ever read something like this. I never comment, ever!
We think the same!
Mr Nobody!
bro, can I borrow $20 bucks? ;)
I think your best contribution to musicians was the creation of CDbaby. Sometimes I think people underestimate what is there. The current owners are capitalizing on your great idea of making a very deep distribution electronically world wide. This is a lot like placing the wood, cardboard and paper across the planet. Now it is the artists job just to light the fire. The only places I can't see the distribution net in is Somalia, North Korea, Myanmar and a few other places. This is a very good deal for the money.
I recently wrote my weekly column for the Chattanooga Times Free Press on the Quaker idea of "enoughness," and you my be he best illustration of that doctrine. So I may write another one and tell your story.
oh sorry then i misjudged you i always hated your ideas in your letters since they seemed to me to have only one final:make more money!hmm ok sometimes i should look a littel bit closer before jude people so i life by the system of gift economy and my band is based on not get rich but happy and we do well with it.
i wish there would be a place to "sell" our music with a virtual hat so pepole could pay what they want even nothing....i once mentioned the idea and we still would be happy if this feature would exist at cd baby
marco and manana me chanto
Some people will never get it. An older man of great wealth once tried to impress upon me just how rich he was. He was not a happy person and no longer spoke to anyone in his immediate family, nor did he have any interest in the beautiful spring day outside. At one point I asked him " So, how many ski boats can you ski behind at a time ? I believe firmly in being comfortable with enough money, but not in the obsession with it.
clever boy :0)
$1,100,000 per year (at least) is enough to live fairly comfortably though. Its like the best of both worlds, I'm impressed.
Thank you, Derek for something truly inspiring. One other benefit you left out: your place in heaven is now assured.
Peace,
Philbillie
like the folk tale (or biblical story of the King searching for the richest man/wisest man in the kingdom....it was the one who had given the most away. I had no idea that this is what had indeed become of your hard work/fortune
Kudos! It is an example for all of us.....and once again, Thank you!
Derek I thought the story was about someone else. I am reading with tired eyes. I love that, because music education is great for learning math or algrebra. That's great it's better to give than to received. You did it the right, because you have to take care of your food, clothing, and shelter. I felt your happiness inside you. I am so glad for you. You are such a nice person. If only I had your technical mind for solving computer problems. You can throw some tech smart my way. (smile)
Kudos. We should all learn by your example. And we may not have businesses to sell, but we can use your example to make small everyday changes in our own lives.
Soooo seriously cool
thanks for that
reminds us to remember whats really important
Just discovered you and your story. Really glad I did. I hope the world finds out about what you did. More importantly, I hope the world embraces and emulates this philosophy. I'm certainly inspired.
Wow. Amazing article. If more people caught onto the idea that WE are the gift to the earth and not the other way around, we'd all be happier. You've inspired me. Thank you.
Derek, you bring to life the words of Winston Churchill when he said.."YOU MAKE A LIVING FROM WHAT YOU GET BUT A LIFE FROM WHAT YOU GIVE!!! THANK YOU! U R AWESOME!
I own 40 acres of rolling hills, valleys,and woods with quiet nooks called 'whispering hills' The hardest part of the dream (so I believe)'a non-profit music education and art center with non-sectarian retreat' is complete in owning the land. Now the visionary process is in place for the structures to be materialized so it becomes a reality.. Any help, donations, comments, positive vibes... whatever is appreciated.. You can go to my website to see pics of the land..thanks derek
Hi, thanks for sharing this inspirational story. I caught it through Twitter and I'm glad I followed the link.
A very very good deed Derek .... Keep living a simple lifestyle. I am inspired to follow the law of simplicity.
Thoughtful and inspiring usage of your money, Derek. As a music teacher and professional musician, I thank you for investing in the future of budding musicians.
Music is [and will continue to be] the first on the "chopping block" in any school district that struggles with passing a budget. Thank you for leading by example.
Very Sincerely,
Hi ! To day I try to use Twitter first time in my life and I got in . The first thing that happened was that your photo appeared to my computer and for the thanks I send this comment to you . Your story is very interesting. Greetings Eila R
You're an interesting fellow doing quiet good work in the world...glad I'm on your blog...
Wow Derek. You are an inspiration to everyone on this planet. Truly!
I can relate to your decision in the sense that i think i would be happy just having enough to live, pursue my hobbies and having a little extra to find new ones.
But i can't help wondering what would it be like to be on the verge of taking that kind of decision.
My hat is off to you, sir
Good for you to be so honest and selfless...but ultimately I think it's good for you, that you have found what makes you most happy and tried and live by it and mean it!
Once Again Dearboy You've Exemplified Your Status As A Spiritually Cool, Thoughtful And Thought Provoking Bloke.
Right On My Man!
What else is new? I knew that you were this good of a guy years ago, after I read the articles you wrote for us.- obviously the work of Love.
Thank you Derek! All of a sudden I feel incredibly rich. Words can't express how much I appreciate your kindness to everyone. Obviously it is a great example for each of us to follow. This would be a much better world if we would. All the best to you!
Wow. Fascinating stuff. Good for you! Something to shoot for indeed!
Derek,
You are wise beyond your years. Thanks from all of us still seeking the dream but more aware of the things that really matter. Things are just the window dressings of life. Laughter, Friends, Love, and what we are hear to learn is what matters. Your Pal, Lenny P.
Very smart move. Good on you!
You just validated a similar hybrid model I am crafting for myself.
Thx for sharing.
I had know this was what you did, but liked hearing in your own words! I like the way you think!
Derek,
A beautiful example of clear, wise-thinking.
Congratulations on doing the right thing for yourself!
Kevin
Derek, you walk your talk and your wisdom is inspirational. Thank you for sharing.
Peace & Blessings,
Andre
God's Blessings!
GO D!
GS
Derek, you confirm the "mysterious" metaphysical axiom taught by Jesus: to him who has shall more be given; to him who has not even that which he has shall be taken away. It's about the attitude of knowing, trusting that you are one who has, rather than one who has not. The one who feels as if he always needs more stuff is actually a "have not". Blessed be. This is a truth we need to see in action!
Insightful decision given from the heart and directed by the divine source-perhaps that was the plan all along and you were the instrument of service. To not want or need anything is the key, but to be grateful for what is....
I admire what you have done.I wish you every sucess for the future............I know the plans I have for you say`s the Lord....Jeremiah 29 verse 11. Be blessed my friend..........regards........Terry.
Derek,
Since the release of our first CD album on CD Baby, its been easy to see that you truly care about music, and about helping other people's musical efforts to be presented and available to the public. My partner John Swanson and I have enjoyed working on original songs with our friends, all with bartering and sharing of parts on each one's songs, and it's nice to keep track of our modest sales on the CD Baby spreadsheet.
Bartering and working with a modest budget, we still appreciate the continuous help that you offer, and we enjoy tremendously what we do with what we've got. Who knows? Maybe someday, someone will be "touched" by one of our productions, and you'll be a big part of that.
Thanks again,
Tom Mayers and John Swanson, et al
This Song's For You
http://www.cdbaby.com/all/thissongsforyou
Evolution in process
superb
WoW! I am speechless. You are a unique being and I am mesmerized!
Derek,simple ,free,feelin good about Life what more could any one ask for??? Great !!!
GOD BLESS YOU. I WISH THE REAT OF THE WORLDD WAS LIKE THAT
Where did you go that's yielding a 5% return? I'd like to go there too ;) LOVE THIS STORY.
>But if you're taking 5% out every year, won't it all be gone in 20 years? Maybe I'm not understanding how it all works.
>The money is passively invested, earning at least 5% a year so that it grows, not shrinks, during my lifetime. -- Derek
Derek, nice letter, and good intentions no doubt, but...
I understand that the guideline for which a retirement fund could produce income for the life of the retiree is 4% per year. If you have a guaranteed 5+% year income stream indefinitely, that knowledge is worth far more than CDbaby. Since you are far younger than most retirees, and withdrawing more than this guideline (consistently) there really isn't any (mathematical) reason to believe this estate will ever produce money for musicians or even 'outlive' you.
Great article!
Thanks for sharing!
This is truely inspiring stuff. Thanks for sharing your reasoning and how you did it!
Thank you for your continued inspiration. I appreciate role models like you for myself and my students.
Derek,
I don't have much and never have...Sometimes you forget that you don't need fame & fortune to be happy. Thanks for the reminder.
can you teach corporate America a few things?
congrats, you have found peace.Edmund.King Ouxaman..Babylon a dragon rastaman a lion......Freedom street my aunts chile from tha revernile,sleep in peace,
Wow. But, then again, not completely surprised coming from you.
I salute the idea, the wisdom and the action.
TommyH
I applaud your example Derek and being content with what you have. I have goals but have learned once achieved, they aren't what it was all about, but the journey along the way; what you can do for others while on your pursuits; that's what it's really all about.
You're blessed with:
Wisdom
Security
Grace
Peace out.
~Stan
Derek,
Congrats!
awesome, Awesome, AWESOME!
Enjoyed your story. Great idea. 5% of $22M is $1.1M. Brilliant.
Well, you're a better man than me cause I'd rather have the 22 million.
I like your point about one less tank in Iraq. Your intelligence astounds and inspires!
Awesome! Rock on!!
I heart this post. Thank you for sharing it all, Derek.
May you always have enough and peace be upon you. ;)
I like the concept, but I think you are over selling yourself a little on the simple life stuff and living plainly. You are paying yourself at least US $1.1 million a year for expenses, that is a lot of of expenses, haha. Great job of marketing yourself and your action though.
So 1.1 million is living simple? I agree with danny, way to make yourself look good.
Way to pump up your humanitarian value. Try living on .5% or $110,000 which is still a lot to "live simple" and leave the other $1 million to the charity.
Get real. You found a tax loop hole. You and thousands of others.
Derek,
This was a really inspiring story to read. Just a few days there was a death in our family and it made me realize how precious our time on earth is. It seems only logical that we be marked by the deeds we do- the other stuff comes and goes- one man is rich and the other poor, yet we are all really the same underneath. The fact that you were able to let go of all that incredible wealth shows that you really intended on helping others through CD Baby and that you weren't just "saying" you were there for the indie guy, but really trying to make a fast buck.
Thanks
Mike
correction "but" replace with "and not" in my last sentence
Wicked man....Fantastic.
That is a truly inspiring post.
I am an entrepreneur and I wish someday I can post an article like this.
I feel the same way, it's not about being the richest man in the world, it's about making a difference in this world and having enough to live a comfortable life.
Congrats and great gesture!
Love is Alive - your sacrifice keeps music living and growing in others - thank you
Derek -
Because of this notation on your blog, others took special notice...
C O N G R A T U L A T I O N S on becoming recognized as a Love Ambassador for The Love Foundation!
Your dedication to give to others selflessly is an incredible act of love ... what a wonderful model you have been to not only musicians, but to all that you come in contact with. You do make a difference in this world... thank you for all you do. ~ Tam
Been away for a few years and was just introduced to your writing. Stunning.
Working for the parks dept as a seasonal worker picking up garbage and scrubbing toilets for a living, and now that job dries up in a few weeks and I will be unemployed just in time for Christmas, it is impossible to relate to your story.
By the way,Derek...Merry Christmas.
TerribleTim
Great story- I am curious when did this notion come to mind? Was it while traveling, on a subway, .....?
Also, if you had to name just 2THINGS that you really would not want to do without(besides basic human need things) what would they be?
Happy Holidays-
Jose Castro-Frenzel
Good for you
.The idea of "having enough" should seem to be an easy thought, but somehow (for many) it doesn't really compute. I can agree I have a hard time computing it myself. I am one of those "ambitious" guys who always seem to want a "little" more, but I can't say I become more happy by reaching that "little more".
But that is all I know. What would I do when not striving for more money anymore? I would climb my walls in no time.
But the whole idea of making money for charity is not foreign though so I absolutly applaud you for your work and effort. Way to go.
"the less I own, the happier I am." This is my fav line by Derek in this article.
praise be to you derek. if it wasn't for music i might be dead right now.
PRICELESS LESSON, Derek...thank you for sharing it with your world! *smile*
"Enough" is the best you can ever wish for anyone.
Happiness is...having "Enough."
Strength THrough Unity,
Lynn
http://PopSuperhero.com
wow. wow. so clever, smart, thoughtful, inspiring, I hope everyone reads this. I hope more people see the genius here!
Derek,
Thank you for such an inspiring post. Blows my mind how much humanity could accomplish if there were more like you.
Yaniv
Would it be possible for you to share the wording of the trust deed so that we can educate ourselves on how exactly it is done without spending money on lawyer$?
Look at LegalZoom or Nolo Press if you want a do-it-yourself (or do-it-cheap) trust. -- Derek
Man when all these changes started to take place, I have to admit I was Chagrined,because I knewthat there would be changes that I cold not really deal with as far as the way things operate! I liked the way you had Cdbaby hooked up! Pay out every weak no matter the amout that I chose for my payout!Not really the same vibe!Sadly so! But I do understand that less is more, and that the best things in life aren't things at all... So more power to you! And I think it was a good thing to do if you had enough, your sanity is worth more than any amount of money! Be well and I know you are a thinker, cause I met you a couple of times in person,very deep man, with a good heart, as far as I can tell!
Well done!
God bless your creed.
You can't take it with you. There is a saying, even a website that goes something like ... poor but happy. Very admirable.
not everybody obviously could tolerate the "loss" of 17 mln $$. ;-)
Some overlook that one can't responsibily spent that much money or needs that much to begin with.
What your step highlights for me is the fact that nothing truly belongs to us in our passing time on Earth. I think that we just come into a temporary possesion of things and capital.
Sharing and passing the wealth onto others while alive is the greatest achivement of the business person.
Myself being one, I hope my time would come to do that as well...
Thanks for telling your story.
Derek, that is beautiful.
You have lived a karmically balanced life.
It is great to have you on the planet.
I'm so glad you shared your story. I've know this technique since the early 90's and wish more people would know about it.
You can have lots of money and help society at the same time.
It's brilliant.
Derek: Inspiring. The true work of a leader. You are truly wealthy! What is more compelling is the example you leave for generations to come.
I ended up in your website after having received a link to your video 'Japanese addresses and other opposites' from a friend. And once here I just felt like thanking you for such inspirational ideas and work - a gust of fresh air just when I was just about to suffocate. Now hope is back! Thank you!!!
Is your text available in Portuguese anywhere? If not, I would gladly volunteer to translate it.
My 7 yr.old daughter read this story with me, we both are inspired and will try to do something like this to help who are less fortunate. Thanks !
I just forwarded this to 110 of my best friends. What an inspiring story!
All love
GK
Not to throw cold water on this love fest , but I do have a question: The sale was for $22,000,000 cash and (Derek writes) while he's alive "it pays out 5% of its value [i.e., of the $22 million] per year to me, to cover [his] living expenses."
That's $1.1 MILLION per year. I must have missed something, but if not, that's a whole lot of "enough." So how about the "rest of the story"?
Right. 5% is the minimum payout required by law for a Charitable Remainder Unitrust. And like I said: that's enough. I didn't need or want the entire $22M. -- Derek
But at $1.1 million per year, technically you'll get the entire $22 million eventually, unless you die first. And if you took the $22 million in one go, it's not like you'd spend it in one year.
In fact, if you live long enough, and the trust generates enough interest, you could get more than $22 million, it would seem.
It just strikes me that you've done a great thing by setting up a trust, and perhaps it generates enough interest to fund music programs as well as pay you the annual $1.1 million payment, but it also seems what it really does is basically delay paying taxes on the entire $22,000,000.
Am I right about all of this? If so, it seems less than forthright to claim you "gave away your company to charity".
Now, if you also give away all but a fraction of your yearly $1.1 million, THAT seems to be a real story. But how would we know the truth?
That's another way to look at it, sure. I really did irreversibly give my company into the charitable trust. Yes it'll pay me 5% per year, but because the investments can safely grow at over 5%, that means I basically get just the interest, not the principal. So I'm taken care of AND music education charities get at least $22M too. Sorry if any of this bothers you. (I know the gushing compliments can get annoying.) But I think I was quite forthright in explaining everything, in hopes it inspires a future company-owner to do the same some day. -- Derek
Derek: Superb response (no sarcasm at all, just in case it could be interpreted that ). I have no problem with someone living well from the fruit of their labor, and you hit a nail on the head (about the gushing complements ).
I hope the music programs help a huge number of kids, and that you get to enjoy those fruits (seeing the world, helping others, enjoying life at a slower pace! )
Best of luck.
"All I want is the chance to prove that money doesn't make me happy" -- Spike Milligan
You've had this chance.
There are haves and have-nots. You epitomize the haves. No one who was short of money would ever do what you did.
Sure, it could get worse, you could pay $10,000 for a first class upgrade, but that's one extreme. But you're not living on the street, are you?
Ironically, you're not sacrificing anything, yet with your story you probably inspired those that are already struggling to give more.
The most ironic things is you accuse the rich of doing stupid things such as buying extra cars while you tell everyone your self-indulgent story. Who are you really trying to convince you are happy?
hi derek,
first found about you in (http://tr.im/switchphp) and learnt that it's not about a specific language rather it's about what you already have.
this action here makes you more than influential to me. i also believe in living with what you JUST need.
MORE power, God bless.
This is a great story.
I'm curious; how do you manage the way that funds are dispersed? Do you make firm decisions on that when you set up the trust or do you get to advise the process moving forward?
Simplify...creative moves INSPIRE US to Challenge the placement of what rock we plan to leap onto next...LIFE is a JOURNEY and you are teaching us to keep our minds open to traveling a different route. Blaze your own trail and celebrate being alive...hope to meet you someday soon, Kat (SXSW~2010?)
.......Ryu (2009-12-04) #
of all the 6 primary opulences: renunciation, knowledge, strength, fame, wealth & beauty, renunciation is chief, renunciation is king, renunciation is freedom, renunciation is satisfaction, renunciation is peace, renunciation is enough, renuniation is been there done that nothing to it, reununciation ....... is to walk a higher path, experience a higher taste, simple living, high thinking.
Jaya Srila Prabhupada!.......
Derek, live!!
It's a wonderful idea. I do what I can for my family and others. It gives me the greatest pleasure. I am fortunate to have a wonderful life and I feel it is important to share with others, too. Thanks for sharing the music...
Sandy
You are one of the greatest person I have ever heard of. Indeed, what you have done is a great contribution and your sacrifice that resulted from your lifetime of hard works can greatly affect a lot of people out there who were not given the chance to say "Hi" to their future. Hope you can live well and enjoy your life. God will bless you for all the things you have done. In short, you have dedicated your lifetime of hard work to help this charity.
I would have liked to still have control if it was me.
Know the faces and the places of people it aided.
Nice post! The idea is great and I think that whenever there is excess in any thing the man can caught in several types of frustration. It is great curse that people want to earn more and more by any mean. They don't want to share any thing with others.We should share things with others to make them pleased and for diminishing the gaps between people.
Hi Derek,
I had heard of your story & CD Baby, some time back (may be an year or so back). And was impressed by your achievements.
Now again I hear about you via 37signals blog, and am really-really impressed by this act of yours to say the least.
Just want to echo the sentiment of what some other commenter has said above - it seems "you really get it"!
Best Wishes for your new endeavors!
It is nice to know that people like you really do exist.
DEREK I AM CURRENTLY IN THE PROCESS OF PUTTING MY CD'S FOR SALE ON CD BABY. LIKE YOU I TOO DO CHARITY AND HAVE DONE SO FOR OVER 20 YEARS USING ONLY MY INCOME FROM MY SERVICE IN THE U.S. ARMY. I DO CHARITY IN JAMAICA AND THE PROCEEDS FROM THESES CD'S ARE JUST FOR THAT. AS A DISABLED MILITARY RETIREE I DO NOT HAVE SUFFICIENT INCOME TO PROPERLY FUND MY CHARITY TO IMPROVISH CHILDREN AND ELDERS IN JAMAICA. I TRULY ADMIRE YOU AND WHAT YOU HAVE DONE. YOU HAVE INSPIRED ME EVEN THAT MUCH MORE. GLORY BE TO GOD AND BLESS YOU. I WILL BE FOLLOWING YOUR WORK. GOD BLESS
I`m impressed!
You have learned lessons that many millionaires don't fully understand until it's far too late. (Can you say...Nicolas Cage?) I myself have learned these lessons the hard way and I can tell you from personal experience that less is more. Things don't make you happy. People and relationships do. I assure you that moments before you take your final breath, it won't be your house or car that you are thinking of. I applaud you for the courage to do what so many would not simply because their ego wouldn't allow them. Bravo!
Steven Diamond
Goodonya, mate.
I'm looking to do something similar eventually. Here's to the road less travelled.
John Hiler
AnomalyRecords.net
JHiMusic.com
He did what all the wealthy do with their wealth. Transfer it over to foundation to preserve it and protect it. It's exactly what I would do and the reason the old money keeps their money.
The best...
Thanks for sharing your story. You continue to be an inspiration to us all.
Dino Jag
Now this is the most sensible thing I have read in a loong time. Thank you, Derek. If the collective consciousness could shift to understand that what you have done is the most sane and only way forward...
Ronèl.
i always read ur all blogs and one thing i have realized u r da man who purely comitted and loyal with Music.
u gotta pure music soul that is spreading music and helping musicians to improve their music.
Hats off!
beautiful thoughts and i do agree with the this statement and in the end got these 5 major points
deeper happiness
pride
safety
freedom
enough
and i guess these are more satisfying thn Ferrari, Gucci items.
You are awesome, Derek. A true inspiration in so many ways!
Awesome. Thanks for sharing!
Very cool story. To know what enough is, is true happiness!
Well done.
The thing which i love bout ur blogs is that u always delivers a optimistic message and always try to travel the positivism and hope through using a collection of beautiful words and I really have a high regard for this.
In this post the thing which I got is….. ‘inner satisfaction’ its not the money that matters its internal gratification that gives the real glee.
Hi, Derek
I always knew you were special. Derek God Bless you, and My Love is Here To Stay -Dyanne-
Valuable evidence that we are all precious visitors here. Your perfect spirit shines forth for us to see.
Got it! Thanks for answering a question nobody ever did.
Thanks Derek!
Lead by example. And I follow...hehe
You have done a good job. God always bless you. Its difficult to find people with this mind.
This makes me feel like a bad person in a good way, simply because you seem to have reached as high as you can go. Many of us including myself are in that path, Maybe not the same impact in the end, but the same result. the things you have done only a small percent of the world get. I will continue living with an open heart & mind and hope it takes me to nirvana.
I wish they would show this on MTV instead of Cribs or any other crazy show that tells the younger people (and I am 32) that you have to be rich and have material things and look a certain way to be TRUELY HAPPY!
Nobody can have a mind like you Derek. You are really great. God Bless
I aggree completely and after I acquire a just few more things I will be satisfied.
Wow Derek.
Thanks.
Thanks for staying true to your heart and not only seeing the bigger picture, but being the bigger picture. It's decisions like these that are timeless. Many will sail the seas of their musical dreams because of your commitment and sacrifice. May we all be inspired to see and live the bigger picture.
Wow Derek... I found this site from your LinkedIn page.... I didn't even know you sold CDBaby.... but I've been sitting here reading everything this site has to offer...
This story was enlightening...
In my opinion, the sweet spot in American life is a lower-middle-middle class lifestyle with a lower-upper-middle class income. A fun, physical, low-status job with enough money not to feel that fulfilling one's basic needs is a precarious proposition.
Yours is a great story of creating that and giving away the excess baggage, both money and "prestigious" living.
I found you on Itunes "Best of youtube" i was hooked by some interesting facts about japanese and Chinese and now i have read this blog article im wondering... after all things you have realized about the importance of "non material" things... do you belive in god? If so what do u think about the money industry behind religions? Hope u anser sometime soon and very nice to meet you.
Beautiful.
You gave me the key. I've wondered how one accomplishes altruistic goals without starving themselves. I'm thankful to have 'stumbled' across your quotes page. You will know when I act on the opportunity to transfer ownership over into a trust fund.
Love & Light,
~Marita Avio-Sanchez
I Smell Music in The Cloud?
Derek- You just gave me another mission to put on my life's list! Wow. That is one great tree to plant in the world! Kudos.
Wow! I love you and I don't even know you. Music/Arts Education is what I'm diving into, as well. If we get them young, we GET them. Everything in my life has been from the vantage point of music. I learned about computers because I bought a sequencer program for an (get this) Apple 1 with a floppy, I mean really floppy, disk. I have a recording of myself when I was 3. My Dad was teaching me a song to sing at church for Easter. Enough about me...I love what you've done with your life. It seems like the more you give away, the more you get (to give away). Fantastic!
Your story made reminded me of a poem by Kurt Vonnegut that I read in my college news paper several years ago (needless to say the sentiment of the poem has stuck with me)....
Joe Heller
True story, Word of Honor:
Joseph Heller, an important and funny writer
now dead,
and I were at a party given by a billionaire
on Shelter Island.
I said, "Joe, how does it make you feel
to know that our host only yesterday
may have made more money
than your novel 'Catch-22'
has earned in its entire history?"
And Joe said, "I've got something he can never have."
And I said, "What on earth could that be, Joe?"
And Joe said, "The knowledge that I've got enough."
Not bad! Rest in peace!"
--Kurt Vonnegut
I want to do this and give the money to Alex's Lemonade Stand. I love what they do.
It's amazing that you publicly posted this information. While it looks like it's received with mixed feelings (based on the comments) the guy on this side of the screen (me) finds it inspiring on mutiple levels. Thanks for sharing this story.
It's good to know that people with money still stay in control of themselves.
Very uplifting.
Thanks for the picture!
This blows away the connotations of wealth being evil. Respect! Thanks for the story.
Wow, very nice!
I came here via your PHP > Rails > PHP post.
By the way, Derek, looks like your PHP code has been replaced by ASP.NET!
Arul
You are so inspiring Derek!
Thank you for sharing and thank you for showing me the way!
Beautiful!
To be honest, I was REALLY disappointed when I found out that you were no longer running CDBaby. CDBaby was one company in music business that I trusted, because it proven itself to be trustworthy. I was really scared of the change, how CDbaby might turn into all of the other business targeting independent musicians. Today, I am happy to see you blossom. You inspire me through your blogs. So thank you and best wishes.
I just got your email about the conference advice for musicians-(Thinking) then I read your words about what you did with cdbaby and where your heart is, I gotta say Derek, no wonder your eyes are so pure blue and beautiful! After having met you you in person at ASCAP I see that heart of yours shining through your eyes and as you and I know, the eyes are the window to the soul.
As I sip tea this early California February morning, I am grateful for you and how you helped me get started in the music business.
I will see if I can get a video to you by March 5th.... Love and Blessings to you.... Tricia Greenwood
Your a robinhood!
The best things in life arent things! Thats just wonderful.
Also...ive noticed that when i get scared to leave my comfort zone i crave owning mre comfortable "things." Its a way to make sure i dont leave the comfort bubble. Of course i never let hapen though)
I like you more all the time! Keep up the great work!
Cody