Why Do Artists Starve

Small Business Confidential

Mike and Brook get into the details of why young people, or people who are fixated with their passion, they've got a vision, they're going to be an artist, but they don't have anything back office. They don't have any concept of money or paying their bills, or just overly focused on that vision in front of them.
01:10 Mike introduces the topic of why artists struggle financially, questioning the "starving artist" cliché and why passion alone isn’t enough to succeed.
03:15 Mike references an article about how many New York residents rely on financial support from their parents or trust funds, highlighting the hidden advantages that allow some people to pursue artistic careers without financial worries.
07:45 Mike emphasizes that being an artist requires the same dedication as running any business, comparing it to the relentless work ethic of professional athletes.
11:05 Mike emphasizes the importance of teaching kids the value of hard work over passion, arguing that discipline and responsibility should come before chasing interests or hobbies
22:30 Brook and Mike conclude that artists starve because they aren't taught how to manage money or sustain themselves financially, emphasizing the need for business knowledge.