Geoff Rickly recently revealed that one of the investors for his label Collect is none other than the venture capitalist and pharmaceutical executive Martin Shkreli. Shkreli recently made headlines as the person who bought out an AIDS medication and hiked up the price for the pill from $13.50 to $750.00. The move has created a public uproar due to the immoral and money-hungry nature of his recent investment.
Rickly, the Collect label boss and singer for Thursday and No Devotion, didn't know about his investor's recent move and has revealed to Noisey that he was surprised to learn of this recent endeavor. “When I met him, he was charming, he was goofy and he was a fan of Thursday. It’s hard for me to come to grips with all of this because this was my first impression,” Rickly told Noisey. “I can’t see my future at all in the label.”
A Philadelphia based band, known as Nothing, has a release due to drop on the label, but recently commented on the situation and will not be going through with the release. Lead singer of Nothing, Dominic Palermo, told Hopes&Fears: “I’ll sit on this record forever until we find a way to release it that’s not connected to him. I’ll never put another record out before I’ll do something with anyone connected to this guy.”
Shrekli has yet to comment on the future of the Collect label, but he's been dealing with a huge amount of criticism coming from the public.