Photo by Jesanne Rechsteiner
Collect Records is run by Thursday and United Nations' Geoff Rickly. Martin Shkreli is the Turing Pharmaceuticals CEO who made headlines for increasing the price of Daraprim—a drug used to treat AIDS and cancer patients—from $13.50 to $750. In an interview with Noisey, Rickly revealed that Shkreli is an investor in Collect.
Rickly began the conversation by saying that he was surprised to see the news about Shkreli. "I want to believe that Martin wants to do the right thing overall," he said. "I’ve seen the guy give away money to schools, charities, and frankly, our bands, who if anyone really knows the industry, is a hard sell. I am struggling to find how this is OK."
He said that when he met Shkreli, he saw "no red flags"—that "he was charming, he was goofy and he was a fan of Thursday." Shkreli decided to be a silent partner in Collect and reportedly gave Rickly total creative freedom.
When asked how Collect would move forward, Rickly responded, "My head is still spinning, and though I want to believe that there is some reason that he would do this that is some remotely positive way, the only thing I can see is that it is totally and completely heartbreaking."
Collect artists have made their dissatisfaction with this news clear. Dominic Palermo of Nothing, who signed to Collect earlier this summer, made it clear that their band "will never be a part of a label that involves Martin." Wax Idols' Hether Fortune wrote, "I personally 100% am NOT FUCKING OK with this guy and his business tactics." Sick Feeling shared a statement with Fader, saying they also plan to part ways with Collect as long as Shkreli is involved. All three artists emphasized their admiration for Rickly.
In response to the overwhelming backlash, Shkreli has announced that he will lower the price of Daraprim, NBC News reports. There's no word yet what the new price will be.
via Evan Minsker
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