Some of the best artists out there didn't have formal training, but I was referring to current production which might as well be what the OP has stated. I guess I was simply in agreement/but not.
The please tell us what you've come up with that sold for large sums of money and was used in hit records argument is weak and Palinesque, (as in Sarah). Coming up w/ a hit record can be easy or very hard... skill and knowledge are often poor predictors of financial or artistic success.
There are probaly 50K bands as good as any other in USA and space for say 30-40 in industry, any moron can ,and do, make a "hit", whether anybody ever hears it is either sheer luck or having connections.
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