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The music genome project
Tim Westergren was a rock musician before he became a startup founder. His music genome project was the core technology used for Pandora.
Tim Westergren founded Pandora in January 2000. The goal was to "capture the essence of music at the most fundamental level" using a matching algorithm and compare them to other songs for a better recommendation experience.
However, at the peak of the dot-com bubble in March 2001, the doors slam shut behind them.
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Influencing people
In the early days of Pandora, it was all about bringing together people that were inspired by an idea that mattered.
The key moments in the first 5 years of Pandora were when Tim influenced important people to make decisions that helped them.
You have to be creative to influence peopl...
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How to get out of an entrepreneurial rut
The most common question among startup founders is how to know when is it time to quit. They really want some validation for their decision.
A better mindset is to say, "This is my life. I'm not doing it because I'm guaranteed a reward at the end. I'm doing it because that's what I do."
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“We’re f*cked, it’s over” (WFIO) moments
These are the moments when your startup is dead, and all seems lost.
As a radio company, Pandora operated under a statutory license that let them play all the music without directly licensing the content. But in 2007, the Copyright Royalty Board made a ruling that made the ...
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Not giving up
At the start of 2001, they began to stretch their money out and asked employees to defer their salaries. Tim maxed out his 11 credit cards, and they stopped paying their employees at the end of 2001. About 50 people worked for two years without getting paid to get them across the bridge.
Ti...
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The project that wouldn't die
Two things worked in their favour:
- The product was magical. Everyone was excited about the product they've built. Investors were offered password-protected access to the product.
- The company was resilient. When the company went through tough ti...
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CURATED FROM
CURATED BY
Tim Westergren discusses his company’s humble beginnings and what it takes to sell your vision.
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