Indie band Deerhoof announced its bold move to exit Spotify, taking a stand against the platform's AI military tech ties. According to Deerhoof's social media post, Deerhoof's decision comes from Spotify CEO Daniel Ek's financial involvement with the defense startup Helsing, which specializes in AI warfare technology. The band expressed distaste for their music being indirectly linked to "AI battle tech". It underscored their intent to discontinue cooperation with a platform they view as detrimental to artists and users.
Sharing the financial brunt of the decision, the band's various labels are tasked with pulling content off Spotify. Deerhoof acknowledged this sacrifice, particularly as they know that other artists may be unable to make a similar move given their dependency on Spotify's payouts. Despite the potential financial hit, Deerhoof feels confident in their touring revenue, surpassing the pittance paid by Spotify streams.
Meanwhile, CNBC reported Ek's venture capital firm Prima Materia's massive investment in Helsing was a whopping 600 million euros (roughly $693.6 million). CNBC cites Ek stating that this move was in response to "evolving geopolitical challenges" and the need for investments to ensure Europe's strategic autonomy and security readiness. Helsing's generous new valuation and initiative to manufacture military drones further entrench the startup as a significant player in the defense tech industry.
