It's a record label for startups.

An ousider Layman's answer (meaning my guess is probably as good as yours):

1. Access to people who will introduce you to people with piles of money that is burning a hole in their pockets.

2. Advice from people who have seen companies go from small to big from the "inside".

It's a rare entry point into the world of venture capital, a world that, for decades, was completely dominated by the old-boy network.

"was"?

A badge of being "in".