Recently discussing the pop era of the 1960's, and it is incredible how very simple and basic truths about the world were lost by the pop pioneers of the time.
Lennon always used to say that the Beatles had lost millions because of the legal and accountancy sharks that always wanted an ever bigger slice of the cake.
But the classic case has got to be Jimi Hendrix.
Before he went into the US army on the draft, he had unfortunately signed a very one way agreement with a promoter that was getting up to 75% of his earnings. After he left the army and moved to London, he then compounded the problem by signing another agreement with some cook which left with virtually nothing. He went to court about it to try and unscramble both agreements, but the courts in this country, at least, always uphold these agreements, because they say that the original promotor put their client on the road to stardom and the value of that can never be quantified. Hendrix lost his case and was dead the next year.
It is virtually impossible to function in the world if you are an artist without lawyers and accountants. But time and time again, bands and performers do not learn basic issues that these people can be complete sharks.
Flower power breaks down in the face of everyday reality.

A friend of mine "made it big" in a local group. Bumping into him in Tesco's after a good many years I was surprised to learn that he had virtually nothing left. The record companies, promoters and managers had fleeced the group almost dry.

To say it had left a slightly bitter taste in his mouth was an understatement. But it's like he said, "We we're young, naive and craved the fame, they just milked us."

So the successful bands, you can multiply by ten or even a hundred to see what the managers are making.

I may have got it wrong but isn't this why The Beatles and also the stones for example Manage themselves? I think THe Beatles started the trend by buying their own label.