Your daddy’s favorite love singer just threw some money into tech

folarin okunola

July 20, 2017 12:42 PM

Lionel Richie is going into startup investing, along with a host of prominent celebrity investors in Los Angeles, USA.

Lionel Richie to be honoured with a Lifetime Achievement Award at BET Awards 2014

If you were born in the ’80s and ’90s, or have an affinity for old school music or just good music in general, then you probably know

Richie is going into startup investing, along with a host of prominent celebrity investors in Los Angeles, USA, starting with a healthcare startup called Heal.

Speaking to Techcrunch, Richie says his first investment is a taste of more to come, adding that he was inspired by the energy and creativity coming fro LA’s newest industry — technology.

Heal is a company that allows personalized medical visits which are booked through an app on a user’s phone at $99 (N36k) per visit, something that resonates with Richie’s roots.

“If you’re born and raised in Alabama in a small, tight-knit community, you know all the doctors, you know all the nurses… No one said meet me at the office at 8 o clock in the morning and wait,” says the legendary singer (who was an early investor in Microsoft), according to a Techcrunch report.

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And Lionel Richie is just one of the many US-based celebrities that have gone into startup investing. Artistes like Beyonce, Justin Bieber, Selena Gomez, Nas, Jay Z and many others have all invested in various companies.

Back here in Nigeria, the story is wildly different. The only celebrities who have made tech-related plays are ElDee The Don (PlayData), Mr Eazi (Phonetrader.ng), and Don Jazzy (Flobyte). And that is across the entire entertainment/creative industry.

This leaves all the goodies of tech investing to other kinds of savvy investors in other industries. While we don’t have to mimic other countries/cultures, there are few personalities in this part of the world who have the spending power or wherewithal to make these kinds of investments and push the ecosystem.

Maybe one day, our “Very Important Personalities” will recognize the power of tech and the future it holds for the empowerment of our nation and us ourselves, as Nigerian. Or not.

Let us know your thoughts in the comments section below. We love to hear from you and get your feedback!

folarin okunola