Rich Grad Poor Grad

            The poor, the middle class and the rich all think differently regarding assets (things that put money in your pocket), liabilities (things that take money out of your pocket) and wealth ("the measure of cash flow from the asset column compared with the expense column"). Rich people buy assets, the poor only have expenses and the middle class buy liabilities they think are assets. This was one of the more fascinating facets of Rich Dad Poor Dad. Most people want to make more money because they think that it will make everything that much easier but in some cases, it makes things harder or, in extreme cases, worse. The key is to acquire assets like real estate, stocks, bonds or intellectual property (like royalties, scripts or patents) that generate a healthy income stream that works hard for us and to minimize liabilities like mortgages, credit card debt, loans and taxes.

            Wealth and being rich seem to be used interchangeably but the truth is that wealth is an important measurement but a measurement nonetheless. If you ask Robert Kiyosaki, he will tell you that you can be wealthy without being rich. Someone who is wealthy will achieve and maintain just enough cash flow from their assets to fully cover their monthly expenses. Someone who is financially independent, on the other hand, will be able to survive a long time without being dependent on his or her wages or professional position. Furthermore, those who don't "mind their own business" (or build and keep the asset column strong) will continue to be enslaved to the company, government and/or bank.

            Kiyosaki goes on to discuss two kinds of investors. The most common type of investor that you will come across is one who purchases a packaged investment. This type of investor purchases mutual funds, stocks, bonds or real estate investment trusts from a real estate company, stockbroker or financial planner because it is quick and easy. The second type of investor specializes in creating investments. This kind of investing is more complex and requires the development of three skills: Find an opportunity that everyone missed, raise money and organize smart people.

            In closing, this book reinforced certain ideals I already believe in but more importantly made me aware that financial freedom is well within reach for me. The most valuable lesson that I am going to take away from Rich Dad Poor Dad is that "the single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth." Many times, the rich invent money and don't need to spend a red cent to generate wealth. It is up to the right side of the brain to exercise its creativity in these endeavors.

Turn It Up To X

            On July 16 of 2013, Apple finally released its first highly anticipated follow up to Logic Pro 9 in more than 4 years. Logic Pro has become one of the most successful, innovative and affordable digital audio workstations the music industry has ever seen. Not only has Apple revolutionized the personal computer, the laptop, the net book, the smart phone, the tablet, the digital download and the television, Apple has also made its stamp on creating music with its industry standard DAW. Logic Pro X has come a long way and has been rebuilt from the ground up with more powerful additions and features than its predecessors. With a $200 price point, Logic is sure to outsell veteran counterparts like Pro Tools, Sonar, Reason and Cubase.

            Rebuilt with 64-bit architecture, Logic Pro X comes equipped with an all new 35 GB sound library available via in-app download and an all new user interface that is visually a cross between Pro Tools and Final Cut Pro. Logic boasts 67 effect plug-ins (which include 35 stomp boxes), 18 software instrument plug-ins, a custom instrument tuning system and 17 instrument and effect plug-ins with true surround support. The sound library consists of more than 1500 patches for tracks, more than 3500 apple loops of all genres, and more than 650 reverb spaces and warped effects for the incomparable Space Designer. You can add up to 255 audio, software instrument and auxiliary channel strips, and up to 64 busses in the newly designed mixer window. If you're like me and have old GarageBand and Logic sessions that you are still working on, not a problem! You can still open GarageBand songs directly in Logic and will be able to open projects from Logic 5 or later. Logic Pro X continues to offer extensive control surface support for your favorite hardware and ReWire support for your favorite applications.

              There are many inspiring facets to Logic Pro X that are too good to pass up! The Drummer and Drum Kit Designer make it much easier to give listeners the illusion that there was a real drummer in the studio delivering natural intense sounding complex grooves and fill combinations. The new Bass Amp Designer gives you the perfect sound that you are going for while accurately modeling popular bass amps and cabinets. The revamped Flex Pitch feature allows you to seamlessly change the melody of an audio recording without having to buy those expensive auto-tune plug-ins. Here comes the deal breaker for me. You ready? The Logic Remote app from the Apple App Store lets you pair your Mac and iPad wirelessly from anywhere in the studio. That's right, you can directly control recordings inside of the booth or control faders from right behind the boards!

            The biggest downside to investing in DAWs like the new Logic Pro X and Pro Tools 11 is that in order for third party plug-ins to compatible, they must be in 64-bit. For producers like myself who have been making music and purchasing these plug-ins for years, you have already run the risk of investing all this money in these plug-ins and not be able to use them. I would venture to guess that most manufactures will offer free 64-bit updates to their software to curb the frustration but some of my other colleagues in the field have made the choice to stray away completely from 64-bit recording. However, times change, technology gets more advanced, all plug-ins will be made in 64-bit and there won't be getting away from it. Other than that, I am very excited for the new Logic Pro X, its many additions and its compatibility with the iPad. 

Magna Carta...Not So Holy Sale?

            This past Sunday, hip-hop legend and Brooklyn-based entrepreneur Jay-Z released his highly anticipated 12th studio album, Magna Carta...Holy Grail on Roc Nation/Sony/Universal. Samsung purchased a million copies of the new album to give away to the first million users to download the new album for free via a special app on Samsung mobile devices. A new rule set forth by the Recording Industry Association of America prevents Samsung's giveaway from being tallied toward Billboard and SoundScan's counts but makes Jay eligible for platinum certification immediately upon delivery. "Going forward, sales of albums in digital format will become eligible on the release date, while sales of albums in physical format will still become eligible for certification 30 days after the release date," states RIAA communications director Liz Kennedy. "Also at the time in 2004, sales of digital albums were virtually non-existent and accounted for a small fraction of overall digital sales. Fast forward a decade and that's obviously no longer the case."

            There is mixed acclaim and criticism of this bold and unprecedented move. Some would argue that this move is a form of data mining and the two giants are merely capitalizing on it. There is also much debate about these copies of the new album being free and unanswered questions are being posed about fairness of sales. Most of us would agree that promotional material should never count toward sales or certification. One would argue that Samsung bought the copies outright before giving them away and somebody else may counter that every CD in a Record Store was also bought; except the copies at a record store don't count until the customer buys it off the shelf. Some people think that the new record should stand alone in order to be counted. Whatever the opinion, two things are for certain. Fans love Jay-Z's new album and Samsung may have opened a Pandora's Box and revolutionized the rest of the music world for generations to come.