Dr. Dre and Iovine invest $70 million in new academy for young talent and innovation

The Wall Street Journal has interviewed Dr. Dre (Andre Young) and Jimmy Iovine on their recently launched undergraduate academy at the University of Southern California. The new center, the USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation, is a joint venture between the two to better prepare younger generations for careers in the tech and entertainment industries, as Iovine explains in the interview:

"We wanted to build a school that we feel is what the entertainment industry needs right now. There's a new kid in town, and he's brought up on an iPad from one and a half years old. But the problem with some of the companies up north [in Silicon Valley] is that they really are culturally inept. I've been shocked at the different species in Northern and Southern California—we don't even speak the same language. The kid who's going to have an advantage in the entertainment industry today is the kid who speaks both languages: technology and liberal arts. That's what this school is about."

The duo originally formed Beats Electronics, which was purchased by Apple for $3 billion, but Tim Cook and co. didn't solely acquire a profitable company, however. Apple also took on two incredible business minds. Dr. Dre and Iovine have invested $70 million into the new academy, which aims to combine arts and culture with business and technology to find new talent to work for companies like Beats or Apple.

"I think what you're seeing more and more are companies that are designed to do multiple things. If you look at the Beats model, there's software and hardware. Look at what Amazon is doing; look at what Google's trying to do. It's technology and content in one. [Sony] had it. They had the Walkman, they had the PlayStation. And they bought Columbia Pictures and Columbia Records, so they had the content. But they never finished the thought—and Apple ended up with the products. Where do you think Steve got the idea?"

It'll certainly be interesting to see just what Dr. Dre and Iovine bring to Apple in the future, but with the new academy it's looking as though they're preparing to hunt for the next 'big thing' for Apple. We strongly recommend you check out the full interview over on the Wall Street Journal.

Source: Wall Street Journal

Rich Edmonds