As the guilded age came to a close in the 1900s, railroad barons, industrialists and banking kingpins put money into the arts in order to launder their image and legacies. We see no such thing today. Why is that?

I’m an independent film producer in NYC who has previously acted in Hollywood studio films and sold screenplays. I’m also extremely online. I have found that wealthy techies, in general, have little to zero interest in investing in culture. This has been a source of frustration considering the large percentage of new money that comes from the sector.

I’m not alone in feeling this way: I have a friend who raises money for a non-profit theater in Boston, another who owns an art gallery in Manhattan, and another who recently retired at the LA Opera. All have said not to bother with anyone in tech. This has always bummed me out given that I genuinely believed with all of my heart and soul that the internet was going to usher in a new golden age of art, culture, and entertainment. (Yes, I was naive as a kid in the 00s.)

Art and culture can truly only thrive on patronage, especially in times of deep income inequality. Yet there are no Medicis in 2023. So what’s missing here? Where is the disconnect?

  • @lythandas
    5•1 year ago

    I don’t think that’s completely true. For instance, one of France richest man, François Pinault actually owns a very large collection and hosted a large exhibition in Paris at the Bourse de Commerce. It’s not only him, Bernard Arnault, actually the richest man in the world also made a lot of things for art, craftmanship etc… Of course, like you said it’s mainly investment and “art-washing”. I don’t know how much this thing is going for more modest patrons, but I guess they act on their own levels, locally.