Why do billboards brag that a show is sold out?
Summary
Devin investigates why promoters advertise sold-out concerts, revealing that Live Nation leverages its monopoly to profit from ancillary sales and secondary ticket resellers like StubHub. The episode also debunks a listener's boyfriend's plan to sell his own identity to cover up fraud, with experts explaining that selling a Social Security number is a federal felony that makes financial crimes nearly impossible to hide.
Topics discussed
Intro and AMA announcement
Sponsor: Chase for Business
Sponsor: Health vs. Hype
Observing sold-out show posters in Brooklyn
The logic behind advertising sold-out events
Interview: Who is responsible for marketing?
Live Nation's business model and venue ownership
Live Nation antitrust lawsuit context
Sponsors: Chase, Niall Rogers, Health vs. Hype
Reasons for advertising sold-out shows
The role of secondary ticket markets
Case study: SeatGeek advertorial for Jay-Z
Cost of resale tickets and bot usage
Impact of resale on artists and fans
Transition to listener question on identity fraud
Listener question: Selling ID to cover crimes
Sponsors: Chase, Niall Rogers, Health vs. Hype
Expert interview: Social Security fraud risks
Feasibility and legal consequences of the scheme
Credits and final sponsor reads
Listen ad-free on Castria