Nobody opens a cinema with a Netflix account

When Ola Sars started talking to American retailers about music, they told him how they got it. One chain shipped 5,000 compact discs to its stores every four weeks. This was around 2014. Spotify had been in the United States for three years. "I didn't believe it," Sars told the CEO.com Podcast. "Okay, this is a market ripe for disruption."

Sars is the founder, CEO, and chairman of Soundtrack, a streaming service for businesses. He is also a former DJ, a co-founder of Beats Music, and the man who talked Spotify into a joint venture and then talked it into letting him leave. He has built four companies in music and says he will keep doing it until he retires, because he cannot think of anything more fun.

It did not start that way. Fifteen years before the interview, he was on Ibiza with friends who worked in the music business. They were making a living and having fun. He had a good career in something more traditional and was miserable. "I was just dreaming about being able to work with something that I love, music," he said. He made the leap and has built on that idea ever since. When every song in the world is available at your fingertips, the companies that can put the right music in the right place at the right time will be the valuable ones.

The first attempt was hardware. Pacemaker was a pocket-sized DJ system built before the App Store existed. The device connected DJs around the world and pulled metadata from their sets, which Sars wanted to use to build the first music recommendation engine. He was training machines on human taste 13 or 14 years before anyone called that AI.

Beats came next. Jimmy Iovine and Dr. Dre had headphones hanging around the necks of every superstar and sports star in America, and a bigger plan. They wanted a streaming platform. Sars had one, a service for DJ mixes called Let's Mix, and Beats bought it. Then came the argument about the name. "They were going to call it the same name as one of the guys at Beats Dog; it was called Daisy," Sars said. "I was like, 'Everyone just stop. Let's just call it Beats Music. It makes all the sense in the world.'" He registered the domain himself.

The team built the product in a basement in Stockholm, hired away from Spotify, bought an American company, moved everything to the United States, launched with AT&T, and got acquired by Apple. Sars' team became the Apple Music team. Sars was already on a plane home. His family had never moved, and he had spent years flying across the Atlantic every other week, which he called the worst years of his life. "They did good with me financially," he said. There is a book in all of this, he says, and one day he will write it.

Back in Stockholm, he sat down with Daniel Ek and Martin Lorentzon, who he refers to simply as Daniel and Martin, and made a pitch. Music in a Starbucks. Music in a cool shop in Santa Monica. Ninety-six percent of American businesses play music to improve the customer experience, and not one of them could do it legally with a streaming account. Spotify Business launched in 2014 as a joint venture, with Sars putting in money he made from Beats and Spotify putting in the music backend. He told Ek from the start that he wanted it independent eventually. In 2016 he began pulling away, and in 2018 Soundtrack launched under its own name. Two years later it was live in 74 markets. Spotify is a shareholder on the cap table and a good partner, he said, and that is all.

The whole business rests on a distinction most people have never thought about. "No one's opening cinemas with Netflix accounts," Sars said. The sports bar showing Sunday Night Football pays for a business subscription that costs 100 times what a fan pays at home. Music is no different. The Gap and the mom-and-pop store both need a business-grade license to play a song for customers, and until Soundtrack, no streaming service had one.

Getting one took three years, a couple of hundred sleepless nights, and Sars back on a plane. He has a way of making the pitch to Warner, Sony, and Universal sound easy. "I'm selling subscriptions for $50, Daniel at Spotify is selling for $10, that means that you're making five times more by just allowing me to create the concept," he said. "You don't really have to do anything, you've just got to help me regulate the market, and protect your IP, and make more money." Then the harder part. "You've got to do that 16,200 times, and keep everyone happy, and hold hands, and sing Kumbaya while you're doing it."

By the time of the interview, Soundtrack had 16,200 of those deals, 98 million tracks, and 100 employees. Sars called it super small. It had also spent $70 million building a moat nobody else has, had just passed $25 million in annual recurring revenue, and had grown 60% the prior year. A month later, the company announced a $15 million round led by Matt Pincus' MUSIC, which confirmed those figures and added one more: the company had turned EBITDA-positive in the first quarter of 2023. The stated purpose of the money was to expand into M&A and consolidate the background music market.

That is what he has been doing since. In March 2025, Accor, with more than 5,700 hotels and 10,000 restaurants and bars, named Soundtrack its preferred music supplier. In February 2026, Soundtrack, which had dropped "Your Brand" from its name, bought Ambie in the United Kingdom and Tunify in Belgium and the Netherlands. Both keep their local teams and take the Soundtrack name. The catalog now stands at above 125 million tracks across 75 countries. Sars estimates that 75% to 80% of small and medium-sized businesses are playing music from consumer accounts without knowing it is illegal, and treats each one as a customer who has not been asked yet. He has since walked through the acquisition math on M&A Science, where he screens targets by customer acquisition cost and subscription quality.

The interview took place in May 2023, a few weeks after a machine-made track imitating Drake and The Weeknd went viral. Sars had listened to it. "I can't even tell," he said. He understood why the labels were worried about a robot army trained on their catalogs, and he was watching them try to keep AI-generated music off Spotify and Apple entirely. He didn't think it would work or matter much. "I'm an opportunist; I tend to see technology as potential positive drivers," he said. Machine-made music might become a slice of the market. It would not become the market.

He is equally unbothered by the idea that streaming ruined the economics of being a musician. The industry is bigger than it was in the CD era, he said, and it pays creators more efficiently than ever. The trouble is on the supply side. He pointed out that he and his interviewer could start a band, record a song, and have it live on Spotify within an hour, and that something like 100,000 tracks arrive every day. More people are splitting a bigger pie. The labels still matter, he said, because someone has to find the talent and put a marketing machine behind it. Asked what form the music industry takes ten years from now, he thought about it and said, "Pass."

On leadership, he gave the standard answers and then admitted they were standard. Total transparency with the team, good news and bad news at high frequency, which he said filters for people who can take it. Hire people better than yourself, "which is obviously cliché," but he means it. "You can't be better than my CFO in finance. I can't be better than my chief product officer. I'm always going to be the generalist in a group of specialists." The one he claims to have actually gotten better at is focus. "Absolute laser-focus, no compromise," he said. Startups die from doing too many things at once, usually because success brings opportunities and founders start reacting to them. Once something works, everyone goes into it and nothing else.

Every conversation on the CEO.com Podcast ends with the same question. The chances one gives are just as important as the chances one takes. Who gave Sars his?

Two friends, both named Jonas. The first worked at Universal Publishing and was the man behind Swedish House Mafia. He told Sars a business mind could be applied to music. The second is Jonas Tempel, who founded Beatport, the first download store for DJs, and has been alongside Sars in several companies since. Sars was raised to give back twice what he receives. "I owe those people, like all the other people, everything," he said, "because without them, you're nothing."

Near the end, the host suggested that Netflix should open theaters. Sars said he should go for it. "Just don't bring me in on the licensing stuff, because I can't take it again. I don't have one more in me."

00:00:00 Introducing Music Tech Veteran Ola Sars
00:00:39 The Ibiza Decision to Enter Music
00:02:50 Launching Pacemaker and Early Innovations
00:03:19 Co-Founding Beats Music
00:07:51 From Apple Music Back to Sweden
00:08:28 Building Spotify Business
00:10:51 Soundtrack Becomes Global B2B Leader
00:12:57 Untangling Music Copyright for Businesses
00:15:01 Closing Deals With Major Labels
00:16:36 AI's Growing Role in Music Production
00:19:56 How Musicians Actually Make Money
00:22:06 Do It Yourself Artists Versus Record Labels
00:23:46 Music as a Universal Cultural Force
00:25:20 Advice for Aspiring Entrepreneurs
00:29:19 Lessons on Leadership and Focus

WEBVTT

00:00:09.634 --> 00:00:12.120
Thank<00:00:09.959> you<00:00:10.236> so<00:00:10.625> much<00:00:11.113> for<00:00:11.340> coming<00:00:11.747> on.

00:00:12.331 --> 00:00:15.955
You<00:00:12.721> are<00:00:13.046> a<00:00:13.371> legend<00:00:14.037> in<00:00:14.200> the<00:00:14.265> music<00:00:15.093> tech<00:00:15.418> industry.

00:00:16.920 --> 00:00:25.327
It's<00:00:17.032> an<00:00:17.257> honor<00:00:17.755> to<00:00:18.141> have<00:00:18.382> you<00:00:18.543> on<00:00:18.720> this<00:00:18.961> show<00:00:19.202> to<00:00:19.283> talk<00:00:19.620> about<00:00:20.006> kind<00:00:20.215> of<00:00:20.247> the<00:00:20.344> future<00:00:20.745> of<00:00:20.954> music,<00:00:21.276> the<00:00:21.372> future<00:00:21.614> of<00:00:21.758> tech,<00:00:22.015> how<00:00:22.337> AI<00:00:22.739> is<00:00:22.819> going<00:00:23.060> to<00:00:23.221> affect<00:00:24.507> the<00:00:24.571> music<00:00:24.989> business.

00:00:25.716 --> 00:00:38.386
Um,<00:00:25.972> but<00:00:26.133> I<00:00:26.277> think<00:00:26.534> maybe<00:00:26.774> let's<00:00:27.015> start<00:00:27.400> with<00:00:28.458> your<00:00:28.699> background,<00:00:30.447> the<00:00:30.704> previous<00:00:31.345> 4<00:00:31.746> companies<00:00:32.292> and<00:00:32.388> startups<00:00:33.013> that,<00:00:33.511> that<00:00:33.655> you<00:00:33.815> founded,<00:00:34.874> and<00:00:34.954> kind<00:00:35.179> of<00:00:35.419> what<00:00:36.061> led<00:00:36.398> you<00:00:36.943> into<00:00:37.264> the<00:00:37.296> music<00:00:38.001> business.

00:00:39.525 --> 00:00:41.305
Thanks,<00:00:40.391> Clint,<00:00:40.648> for<00:00:40.696> having<00:00:41.113> me.

00:00:41.434 --> 00:00:46.550
Uh,<00:00:42.476> well,<00:00:43.455> it's,<00:00:44.160> it's,<00:00:44.561> uh,<00:00:45.059> a<00:00:45.139> bit<00:00:45.299> of<00:00:45.395> a<00:00:45.524> romantic<00:00:46.101> story.

00:00:46.887 --> 00:01:08.137
I've,<00:00:47.448> uh,<00:00:48.587> been<00:00:48.828> able<00:00:49.309> to,<00:00:50.335> uh,<00:00:50.592> make<00:00:50.832> a<00:00:50.977> living<00:00:51.779> and<00:00:51.955> build<00:00:52.180> companies<00:00:52.918> in<00:00:53.238> the<00:00:53.399> music<00:00:53.735> industry<00:00:56.352> as<00:00:56.528> a<00:00:56.609> result<00:00:57.106> of<00:00:57.171> me<00:00:57.331> making<00:00:57.893> kind<00:00:58.070> of<00:00:58.214> a<00:00:58.295> leap<00:00:58.535> of<00:00:58.696> faith<00:00:59.017> 15<00:00:59.403> years<00:00:59.659> ago,<00:01:01.426> deciding<00:01:02.132> to<00:01:02.566> try<00:01:02.951> to<00:01:03.031> make,<00:01:03.979> make<00:01:04.171> a<00:01:04.300> life<00:01:04.958> working<00:01:05.424> in<00:01:05.504> an<00:01:05.665> industry<00:01:06.708> around<00:01:07.351> my<00:01:07.447> passion,<00:01:07.929> music.

00:01:09.053 --> 00:01:25.111
So<00:01:09.550> it<00:01:09.695> was<00:01:10.482> a<00:01:10.979> decision<00:01:11.445> I<00:01:11.477> made<00:01:12.489> actually<00:01:14.014> on<00:01:14.094> an<00:01:14.335> island<00:01:15.218> outside<00:01:15.491> of<00:01:15.555> Spain<00:01:15.941> called<00:01:16.134> Ibiza<00:01:17.322> with<00:01:17.547> good<00:01:17.787> friends<00:01:18.205> where<00:01:18.365> I<00:01:18.446> realized<00:01:18.927> that<00:01:19.168> they<00:01:19.393> were<00:01:20.615> they<00:01:20.760> were<00:01:20.921> working<00:01:21.244> in<00:01:21.324> the<00:01:21.357> music<00:01:21.727> industry,<00:01:22.614> making<00:01:22.968> a<00:01:23.033> good<00:01:23.274> living<00:01:23.758> and<00:01:23.903> having<00:01:24.225> fun<00:01:24.418> at<00:01:24.483> the<00:01:24.580> same<00:01:24.886> time.

00:01:25.208 --> 00:01:36.773
And<00:01:25.289> I<00:01:25.434> was<00:01:25.853> working<00:01:26.239> in<00:01:26.352> a<00:01:26.401> more<00:01:27.303> traditional<00:01:27.867> industry,<00:01:30.158> having<00:01:30.417> a<00:01:30.498> great<00:01:30.740> career,<00:01:31.307> but<00:01:31.776> wasn't<00:01:32.034> happy<00:01:32.600> and<00:01:32.908> was<00:01:33.150> just<00:01:33.441> thinking,<00:01:34.137> dreaming<00:01:34.541> about<00:01:34.945> being<00:01:35.220> able<00:01:35.350> to<00:01:35.430> work<00:01:35.657> with<00:01:35.754> something<00:01:36.061> that<00:01:36.142> I<00:01:36.239> love,<00:01:36.482> music.

00:01:36.821 --> 00:01:54.586
So<00:01:38.406> I<00:01:39.069> obviously<00:01:39.377> used<00:01:39.636> both<00:01:41.031> sides<00:01:41.420> of<00:01:41.501> my<00:01:41.744> brain,<00:01:43.122> both<00:01:43.349> the<00:01:43.430> rationale<00:01:44.095> around<00:01:44.500> the<00:01:44.597> music<00:01:44.922> industry<00:01:46.026> digitizing<00:01:46.844> and<00:01:46.988> basically<00:01:48.366> transforming<00:01:48.927> itself<00:01:49.408> right<00:01:49.585> in<00:01:49.729> front<00:01:49.953> of<00:01:50.049> us<00:01:50.210> in<00:01:50.290> terms<00:01:50.610> of<00:01:51.171> digitization<00:01:52.037> of<00:01:52.133> production,<00:01:52.758> distribution,<00:01:53.416> and<00:01:53.576> consumption<00:01:53.977> at<00:01:54.057> the<00:01:54.137> same<00:01:54.377> time.

00:01:54.634 --> 00:02:04.876
So<00:01:54.778> it<00:01:54.858> was<00:01:55.018> a<00:01:55.099> rational<00:01:55.964> opportunity,<00:01:57.487> um,<00:01:58.465> but<00:01:58.609> also<00:01:59.987> an<00:02:00.068> emotional<00:02:00.773> opportunity<00:02:01.510> to<00:02:02.376> jump<00:02:02.793> into<00:02:03.097> the<00:02:03.129> music<00:02:03.514> industry,<00:02:04.011> start<00:02:04.299> building<00:02:04.540> companies.

00:02:05.437 --> 00:02:34.260
So<00:02:05.533> that's<00:02:05.822> what<00:02:05.982> I've<00:02:06.062> been<00:02:06.159> doing<00:02:06.479> the<00:02:06.559> last<00:02:06.800> 15<00:02:07.265> years<00:02:07.922> and<00:02:08.242> basically<00:02:08.787> focusing<00:02:09.204> on<00:02:10.150> building<00:02:11.192> digital<00:02:11.609> disruptors<00:02:12.410> within<00:02:13.838> the<00:02:13.918> same<00:02:14.256> thesis,<00:02:14.979> which<00:02:15.220> is<00:02:16.409> in<00:02:16.489> a<00:02:16.505> market<00:02:16.971> of<00:02:17.710> abundance,<00:02:18.353> meaning<00:02:18.739> all<00:02:18.819> the<00:02:18.899> music<00:02:19.253> in<00:02:19.381> the<00:02:19.478> world<00:02:20.201> available<00:02:20.763> at<00:02:20.908> your<00:02:21.084> fingertips<00:02:21.711> anywhere,<00:02:22.755> anytime<00:02:23.173> in<00:02:23.253> the<00:02:23.398> world,<00:02:24.378> companies<00:02:24.860> who<00:02:25.005> can<00:02:25.246> help<00:02:26.306> find<00:02:26.628> the<00:02:26.772> right<00:02:27.013> music<00:02:27.351> for<00:02:27.511> the<00:02:27.656> right<00:02:27.897> context<00:02:29.263> and<00:02:29.745> deliver<00:02:30.323> that<00:02:30.548> music<00:02:30.950> will<00:02:31.046> be<00:02:32.717> powerful<00:02:33.135> players<00:02:33.537> in<00:02:33.617> the<00:02:33.697> value<00:02:34.019> chain.

00:02:34.822 --> 00:02:42.984
And<00:02:35.063> that's<00:02:35.690> basically<00:02:36.188> what<00:02:36.332> I've<00:02:36.413> been<00:02:36.509> doing<00:02:36.831> both<00:02:37.216> on<00:02:37.795> the<00:02:38.019> business-to-consumer<00:02:38.855> side<00:02:39.594> through<00:02:39.867> building<00:02:40.606> digital<00:02:40.911> service<00:02:41.249> providers<00:02:41.795> and<00:02:41.891> technology<00:02:42.438> platforms.

00:02:43.096 --> 00:02:50.133
And<00:02:43.177> now,<00:02:44.124> um,<00:02:45.169> the<00:02:45.249> last<00:02:45.586> two<00:02:45.892> efforts<00:02:46.309> with<00:02:46.406> Spotify<00:02:46.936> Business<00:02:47.354> and<00:02:47.530> Soundtrack<00:02:48.157> is<00:02:48.719> building<00:02:49.024> it<00:02:49.137> in<00:02:49.281> the<00:02:49.426> B2B<00:02:49.779> space.

00:02:50.422 --> 00:03:06.471
So,<00:02:51.916> um,<00:02:52.719> I've,<00:02:53.780> I've<00:02:53.940> done<00:02:54.165> every—<00:02:54.583> anything<00:02:55.049> from<00:02:56.109> launching<00:02:56.511> Pacemaker,<00:02:57.298> the<00:02:57.378> world's<00:02:57.635> first<00:02:57.876> pocket-sized<00:02:58.599> DJ<00:02:58.936> system,<00:02:59.483> which<00:02:59.788> was<00:03:00.029> actually,<00:03:00.832> um,<00:03:01.427> seriously,<00:03:02.696> yeah,<00:03:03.162> it<00:03:03.242> was,<00:03:03.644> it<00:03:03.676> was<00:03:04.784> before<00:03:05.186> the<00:03:05.411> App<00:03:05.523> Store,<00:03:05.828> believe<00:03:06.069> it<00:03:06.150> or<00:03:06.230> not.

00:03:07.337 --> 00:03:16.809
And<00:03:07.497> we<00:03:07.657> were,<00:03:08.635> we<00:03:08.715> were<00:03:08.859> building<00:03:09.116> a<00:03:09.180> hardware<00:03:09.581> device<00:03:09.997> to<00:03:10.142> connect<00:03:10.462> to<00:03:10.558> all<00:03:10.799> the<00:03:10.959> DJs<00:03:11.199> of<00:03:11.280> the<00:03:11.424> world<00:03:11.680> to<00:03:11.825> extract<00:03:12.241> the<00:03:12.385> metadata<00:03:13.139> from<00:03:13.844> their<00:03:14.004> DJ<00:03:14.341> sets<00:03:14.806> in<00:03:14.982> order<00:03:15.206> to<00:03:15.286> build<00:03:15.527> the<00:03:15.607> first<00:03:15.863> music<00:03:16.152> recommendation<00:03:16.617> engine.

00:03:17.530 --> 00:03:19.341
So<00:03:17.627> that<00:03:17.771> was<00:03:18.236> kind<00:03:18.492> of<00:03:18.556> the<00:03:18.652> first<00:03:19.037> effort.

00:03:19.390 --> 00:03:28.766
And<00:03:19.518> then<00:03:20.255> fast<00:03:20.576> forward,<00:03:20.976> I<00:03:21.040> was<00:03:21.217> one<00:03:21.361> of<00:03:21.441> the<00:03:21.521> co-founders<00:03:22.018> of<00:03:22.098> Beats<00:03:22.339> Music<00:03:22.900> that<00:03:23.621> obviously<00:03:23.941> was<00:03:24.118> a<00:03:24.182> competitor<00:03:24.599> to<00:03:24.679> Spotify<00:03:25.288> and<00:03:25.384> got<00:03:25.544> acquired<00:03:26.426> by<00:03:26.730> Apple<00:03:26.987> and<00:03:27.067> became<00:03:28.109> Apple<00:03:28.333> Music.

00:03:29.455 --> 00:03:39.076
And,<00:03:29.695> and,<00:03:31.058> and<00:03:31.314> now<00:03:31.555> lately<00:03:32.035> together<00:03:32.340> with<00:03:32.452> Spotify,<00:03:32.997> I<00:03:33.077> founded<00:03:33.398> Spotify<00:03:33.959> Business,<00:03:34.423> which<00:03:34.600> I<00:03:34.680> then<00:03:34.920> pivoted<00:03:35.610> away<00:03:35.963> from<00:03:36.219> Spotify<00:03:36.845> to<00:03:36.990> become<00:03:37.230> 100%<00:03:37.888> independent<00:03:38.386> Soundtrack.

00:03:39.798 --> 00:03:44.517
And<00:03:40.135> Soundtrack<00:03:40.553> is<00:03:40.697> now<00:03:40.938> the<00:03:41.098> global<00:03:41.403> leader<00:03:41.804> within<00:03:42.446> music<00:03:42.687> streaming<00:03:43.249> for<00:03:43.586> businesses<00:03:44.148> worldwide.

00:03:45.255 --> 00:03:46.715
That's<00:03:45.448> the<00:03:45.753> super<00:03:45.993> short<00:03:46.234> story<00:03:46.394> about<00:03:46.635> me.

00:03:47.036 --> 00:03:49.668
No,<00:03:47.197> yeah,<00:03:47.438> your<00:03:47.662> journey<00:03:48.224> is<00:03:48.882> unbelievable.

00:03:50.327 --> 00:03:52.413
I<00:03:50.391> wonder,<00:03:50.872> uh,<00:03:51.129> tell<00:03:51.273> me<00:03:51.354> about<00:03:51.610> Beats<00:03:51.996> Music.

00:03:53.135 --> 00:03:56.666
Like,<00:03:53.681> that<00:03:54.178> was—<00:03:54.339> that<00:03:54.644> pre—<00:03:55.302> had<00:03:55.462> Spotify<00:03:55.944> come<00:03:56.184> out<00:03:56.409> yet?

00:03:58.014 --> 00:04:09.404
Oh<00:03:58.110> yeah,<00:03:58.383> Spotify<00:03:58.752> was<00:03:58.977> in<00:03:59.073> the<00:03:59.153> market<00:03:59.619> as,<00:04:00.341> you<00:04:00.421> know,<00:04:00.983> um,<00:04:02.125> the<00:04:02.691> major<00:04:03.338> disruptor,<00:04:04.211> I<00:04:04.373> would<00:04:04.486> say,<00:04:04.955> within<00:04:05.926> the<00:04:06.169> global<00:04:06.800> transition<00:04:07.932> of<00:04:08.110> music<00:04:08.434> consumption<00:04:08.935> to<00:04:09.064> streaming.

00:04:09.485 --> 00:04:10.634
I<00:04:09.501> mean,<00:04:09.712> they<00:04:09.873> weren't<00:04:10.197> first.

00:04:10.779 --> 00:04:13.672
You<00:04:10.860> guys<00:04:11.022> in<00:04:11.103> the<00:04:11.248> US,<00:04:12.541> I'm<00:04:12.896> in<00:04:12.961> Sweden,<00:04:13.365> by<00:04:13.526> the<00:04:13.607> way.

00:04:13.736 --> 00:04:21.377
I'm<00:04:14.011> in<00:04:14.157> Stockholm<00:04:14.738> on<00:04:14.884> the<00:04:14.981> other<00:04:15.126> side<00:04:15.320> of<00:04:15.385> the<00:04:15.546> Atlantic,<00:04:17.117> but<00:04:17.444> as<00:04:17.607> you<00:04:17.705> can<00:04:17.933> hear,<00:04:18.178> I've<00:04:18.341> had<00:04:18.537> a<00:04:18.602> couple<00:04:18.929> of<00:04:19.092> tours<00:04:19.500> in<00:04:19.810> your<00:04:19.892> beautiful<00:04:20.398> country<00:04:20.790> through<00:04:20.888> my<00:04:21.051> life.

00:04:23.504 --> 00:04:28.546
And<00:04:24.349> so<00:04:24.739> Spotify<00:04:25.227> wasn't<00:04:25.569> first,<00:04:25.959> but<00:04:26.121> they,<00:04:26.430> I<00:04:26.512> would<00:04:26.625> say<00:04:26.918> they<00:04:27.162> did<00:04:27.324> it<00:04:28.032> the<00:04:28.177> right<00:04:28.417> way.

00:04:28.770 --> 00:04:38.696
So<00:04:28.995> they<00:04:29.155> were<00:04:29.299> able<00:04:29.556> to<00:04:29.636> really<00:04:29.877> scale<00:04:31.159> music<00:04:31.480> streaming<00:04:31.961> into<00:04:32.362> the<00:04:32.506> consumer<00:04:32.939> space,<00:04:33.324> and<00:04:33.404> now<00:04:33.645> they<00:04:33.789> obviously<00:04:34.206> lead<00:04:34.366> the<00:04:34.527> market<00:04:34.928> ahead<00:04:35.152> of<00:04:35.313> Apple,<00:04:36.211> ahead<00:04:36.387> of<00:04:36.515> Amazon,<00:04:37.012> ahead<00:04:37.253> of<00:04:37.333> Google.

00:04:38.920 --> 00:04:43.843
Um,<00:04:39.498> and,<00:04:39.802> um,<00:04:40.700> Beats<00:04:41.406> Music<00:04:41.887> was—<00:04:42.480> I'll<00:04:43.106> do<00:04:43.250> the<00:04:43.346> short<00:04:43.603> story.

00:04:43.908 --> 00:04:46.922
There's<00:04:44.148> a<00:04:44.212> whole<00:04:44.389> book<00:04:44.629> around<00:04:44.934> this<00:04:45.110> as<00:04:45.271> well<00:04:45.992> that<00:04:46.152> one<00:04:46.313> day<00:04:46.489> I'll<00:04:46.698> write.

00:04:47.018 --> 00:04:58.145
But<00:04:48.221> Jimmy,<00:04:48.798> Jimmy<00:04:49.103> and<00:04:49.199> Dre,<00:04:49.664> who<00:04:49.760> were<00:04:50.707> the<00:04:50.787> founders<00:04:51.204> of<00:04:51.524> Beats<00:04:51.701> Electronics<00:04:52.631> and<00:04:52.951> were<00:04:53.048> doing<00:04:53.368> the<00:04:53.449> Beats<00:04:53.689> by<00:04:53.833> Dre<00:04:53.994> headphones<00:04:55.453> You<00:04:55.533> remember<00:04:55.853> back<00:04:56.078> in<00:04:56.158> the<00:04:56.254> days<00:04:56.559> when<00:04:56.655> they<00:04:57.055> launched<00:04:57.552> that<00:04:57.761> product?

00:04:58.562 --> 00:05:03.483
Oh<00:04:58.658> yeah,<00:04:59.524> they<00:04:59.700> obviously<00:05:00.165> had,<00:05:00.966> yeah,<00:05:01.303> they<00:05:01.463> had<00:05:01.640> a<00:05:01.784> bigger<00:05:02.024> ambition<00:05:02.489> than<00:05:02.601> doing<00:05:02.970> headphones.

00:05:03.627 --> 00:05:13.212
Both<00:05:03.851> of<00:05:03.932> them<00:05:04.092> came<00:05:04.332> out<00:05:04.444> of<00:05:04.573> obviously<00:05:04.973> very<00:05:05.086> successful<00:05:05.711> music<00:05:06.031> careers,<00:05:06.592> both<00:05:06.833> on<00:05:06.993> kind<00:05:07.153> of<00:05:07.297> the<00:05:07.394> business<00:05:07.634> side<00:05:07.939> and<00:05:08.099> the<00:05:08.195> artist<00:05:08.692> side,<00:05:10.503> and<00:05:10.663> they<00:05:10.824> realized<00:05:11.304> that<00:05:12.186> the<00:05:12.266> market<00:05:12.603> was<00:05:12.763> changing.

00:05:13.789 --> 00:05:22.797
And<00:05:14.526> just<00:05:14.686> like<00:05:14.911> I<00:05:15.151> realized<00:05:15.552> when<00:05:15.648> I<00:05:15.792> was<00:05:16.065> sitting<00:05:16.433> there<00:05:16.530> with<00:05:16.690> my<00:05:16.850> friends<00:05:17.091> in<00:05:17.171> Ibiza<00:05:17.491> and<00:05:17.652> they<00:05:17.748> said<00:05:18.036> like,<00:05:18.309> something's<00:05:18.774> going,<00:05:19.110> something<00:05:20.136> massive<00:05:20.553> is<00:05:20.681> going<00:05:20.937> to<00:05:21.017> change<00:05:21.402> in<00:05:21.498> the<00:05:21.578> industry,<00:05:21.947> we<00:05:22.123> got<00:05:22.220> to<00:05:22.300> be<00:05:22.380> part<00:05:22.620> of<00:05:22.716> it.

00:05:22.845 --> 00:05:24.865
So<00:05:23.582> They<00:05:23.726> were<00:05:23.807> trying<00:05:23.983> to<00:05:24.063> figure<00:05:24.320> that<00:05:24.608> out.

00:05:24.945 --> 00:05:32.274
And<00:05:25.025> then<00:05:25.587> the<00:05:25.667> ambition<00:05:26.212> with<00:05:26.389> Beats<00:05:26.934> was<00:05:27.094> always<00:05:27.511> to<00:05:27.655> become<00:05:28.153> kind<00:05:28.329> of<00:05:29.596> the,<00:05:29.917> the,<00:05:30.157> the<00:05:30.237> leading<00:05:30.558> mainstream<00:05:31.119> music<00:05:31.520> lifestyle<00:05:32.066> brand.

00:05:32.402 --> 00:05:35.658
And<00:05:32.787> for<00:05:32.883> the<00:05:32.964> US<00:05:33.284> market,<00:05:33.749> that<00:05:33.830> was<00:05:33.990> always<00:05:34.327> their,<00:05:35.048> like,<00:05:35.289> ambition.

00:05:35.754 --> 00:05:42.393
They<00:05:35.834> started<00:05:36.411> with<00:05:36.556> headphones,<00:05:37.117> which<00:05:37.277> was<00:05:37.390> a<00:05:37.454> very<00:05:37.775> natural<00:05:39.298> place<00:05:39.619> to<00:05:39.779> be<00:05:40.100> when<00:05:40.260> you<00:05:40.340> want<00:05:40.469> to<00:05:40.725> put<00:05:40.838> a<00:05:40.966> brand<00:05:41.303> into<00:05:41.527> the<00:05:41.688> US<00:05:42.024> market.

00:05:43.371 --> 00:05:53.079
Obviously,<00:05:43.772> those<00:05:43.949> headphones<00:05:44.430> were<00:05:45.135> hanging<00:05:45.408> around<00:05:45.713> the<00:05:45.793> necks<00:05:46.098> of<00:05:46.194> every,<00:05:46.835> you<00:05:46.916> know,<00:05:47.012> superstar,<00:05:48.535> sports<00:05:48.920> star<00:05:49.530> I<00:05:49.578> Am,<00:05:50.365> anything<00:05:50.846> from,<00:05:51.328> you<00:05:51.409> know,<00:05:51.714> Gwen<00:05:51.890> Stefani<00:05:52.436> to<00:05:52.533> Will.I.Am.

00:05:53.978 --> 00:06:01.575
And<00:05:54.059> then,<00:05:54.685> uh,<00:05:55.343> but<00:05:55.745> they<00:05:55.970> had<00:05:56.130> a<00:05:56.146> bigger<00:05:56.387> ambition,<00:05:56.773> which<00:05:56.933> was<00:05:57.094> obviously<00:05:58.154> to<00:05:58.315> dominate<00:05:59.021> the<00:05:59.118> music<00:05:59.455> industry<00:06:00.547> from<00:06:00.659> a<00:06:00.788> consumer<00:06:01.125> standpoint.

00:06:01.832 --> 00:06:11.500
And<00:06:02.876> hence,<00:06:03.759> um,<00:06:04.418> they<00:06:04.578> needed<00:06:04.899> someone<00:06:05.381> that<00:06:05.783> could<00:06:05.943> help<00:06:06.184> them<00:06:06.345> build<00:06:07.132> the,<00:06:07.854> the<00:06:08.256> epicenter<00:06:08.834> of<00:06:08.995> that<00:06:09.541> vision,<00:06:09.942> which<00:06:10.119> was<00:06:10.296> a<00:06:10.360> music<00:06:10.665> streaming<00:06:11.083> platform.

00:06:11.548 --> 00:06:13.652
And<00:06:12.432> we<00:06:12.528> had<00:06:12.689> done<00:06:12.849> some<00:06:13.010> business<00:06:13.315> before.

00:06:13.733 --> 00:06:15.772
They<00:06:13.957> tried<00:06:14.150> to<00:06:14.279> acquire<00:06:14.760> one<00:06:14.857> of<00:06:14.921> my<00:06:15.082> companies<00:06:15.483> before.

00:06:17.089 --> 00:06:31.254
And<00:06:17.169> now<00:06:17.426> I<00:06:17.571> had<00:06:17.732> a<00:06:17.812> company<00:06:18.149> that<00:06:18.310> was<00:06:19.177> a<00:06:19.836> music<00:06:20.558> streaming<00:06:21.040> platform<00:06:21.763> for<00:06:22.020> DJ<00:06:22.469> mixes,<00:06:23.995> but<00:06:24.092> it<00:06:24.156> was<00:06:24.332> a<00:06:24.397> very<00:06:24.573> sophisticated<00:06:25.360> platform<00:06:25.938> and<00:06:26.163> they<00:06:26.260> ended<00:06:26.517> up<00:06:26.661> buying<00:06:26.982> that<00:06:27.079> platform,<00:06:27.769> which<00:06:27.914> was<00:06:28.091> called<00:06:28.267> Let's<00:06:28.588> Mix,<00:06:28.829> and<00:06:29.472> we<00:06:29.857> changed<00:06:30.178> the<00:06:30.211> name<00:06:30.435> to<00:06:30.580> Beats<00:06:30.821> Music.

00:06:31.399 --> 00:06:32.941
I<00:06:31.544> told<00:06:31.720> them,<00:06:31.881> let's<00:06:32.041> just<00:06:32.202> call<00:06:32.379> it<00:06:32.443> Beats<00:06:32.684> Music.

00:06:33.005 --> 00:06:43.972
They<00:06:33.150> were<00:06:33.246> making<00:06:33.631> up<00:06:33.792> all<00:06:34.033> kinds<00:06:34.354> of<00:06:34.611> funny<00:06:34.852> names,<00:06:35.318> but<00:06:35.414> I<00:06:35.494> said,<00:06:35.800> let's<00:06:35.976> just<00:06:36.137> be<00:06:36.217> pragmatic<00:06:36.876> and<00:06:36.940> call<00:06:37.117> it—<00:06:37.968> they<00:06:38.048> were<00:06:38.128> gonna<00:06:38.305> call<00:06:38.626> it<00:06:39.895> the<00:06:39.927> same<00:06:40.232> name<00:06:40.537> as<00:06:41.035> one<00:06:41.196> of<00:06:41.260> the<00:06:41.356> guys<00:06:41.613> at<00:06:41.758> Beats,<00:06:42.079> Dogg,<00:06:42.882> It<00:06:43.122> was<00:06:43.282> called<00:06:43.587> Daisy.

00:06:44.368 --> 00:06:47.978
I<00:06:44.388> was<00:06:44.549> like,<00:06:45.190> everyone<00:06:45.462> just<00:06:45.686> stop<00:06:46.472> it,<00:06:46.648> let's<00:06:46.840> just<00:06:47.049> call<00:06:47.289> it<00:06:47.433> Beats<00:06:47.674> Music.

00:06:48.026 --> 00:06:49.420
It<00:06:48.090> makes<00:06:48.315> all<00:06:48.571> sense<00:06:48.828> in<00:06:49.036> the<00:06:49.196> world.

00:06:49.853 --> 00:06:51.856
And<00:06:49.997> I<00:06:50.094> registered<00:06:50.735> the<00:06:50.767> domain<00:06:51.296> and<00:06:51.376> there<00:06:51.600> we<00:06:51.696> were.

00:06:52.097 --> 00:07:04.052
And<00:06:52.962> we<00:06:53.058> took<00:06:53.283> off<00:06:53.539> and<00:06:53.619> we<00:06:53.780> built<00:06:54.244> out<00:06:54.501> as<00:06:54.597> a<00:06:54.661> stealth<00:06:55.062> product<00:06:56.167> out<00:06:56.264> of<00:06:56.360> Stockholm<00:06:57.225> in<00:06:57.289> a<00:06:57.385> basement<00:06:58.331> in<00:06:58.427> my,<00:06:59.084> in<00:06:59.212> my<00:06:59.789> kind<00:06:59.950> of<00:07:01.071> my<00:07:01.232> part<00:07:01.456> of<00:07:01.488> the<00:07:01.632> town<00:07:02.017> here,<00:07:02.193> and<00:07:02.754> recruited<00:07:03.379> from<00:07:03.572> Spotify.

00:07:04.116 --> 00:07:05.591
And<00:07:04.501> my<00:07:04.661> whole<00:07:04.918> old<00:07:05.078> team<00:07:05.318> was<00:07:05.479> there.

00:07:05.799 --> 00:07:09.533
And<00:07:07.065> then,<00:07:07.899> uh,<00:07:07.963> we<00:07:08.107> moved<00:07:08.363> fast<00:07:08.780> and<00:07:08.844> it<00:07:08.908> was<00:07:09.085> crazy.

00:07:09.790 --> 00:07:15.947
And<00:07:10.351> then<00:07:10.671> we<00:07:10.767> acquired<00:07:11.168> a<00:07:11.232> company<00:07:11.553> in<00:07:11.633> the<00:07:11.713> US<00:07:12.049> and<00:07:12.113> moved<00:07:12.194> the<00:07:12.370> whole<00:07:12.690> operation<00:07:13.171> over<00:07:13.476> the<00:07:13.556> US<00:07:14.198> because<00:07:14.438> we<00:07:14.519> were<00:07:14.615> going<00:07:14.711> to<00:07:14.839> launch<00:07:15.096> in<00:07:15.176> the<00:07:15.241> US<00:07:15.578> market.

00:07:16.203 --> 00:07:25.011
And,<00:07:17.326> um,<00:07:18.225> then<00:07:18.385> we<00:07:18.546> launched<00:07:18.947> and<00:07:19.749> did<00:07:19.925> a<00:07:19.974> deal<00:07:20.150> with<00:07:20.294> AT&T<00:07:20.936> and<00:07:21.738> later<00:07:22.075> got<00:07:22.252> acquired<00:07:22.637> by<00:07:22.861> Apple,<00:07:23.182> and<00:07:23.519> my<00:07:23.680> team<00:07:23.904> became<00:07:24.225> the<00:07:24.305> Apple<00:07:24.626> Music<00:07:24.947> team.

00:07:26.231 --> 00:07:37.734
Yeah,<00:07:26.407> what<00:07:26.568> was<00:07:26.728> that<00:07:26.969> like,<00:07:27.514> uh,<00:07:28.573> going<00:07:28.958> from,<00:07:29.696> you<00:07:29.792> know,<00:07:30.097> Beats<00:07:30.338> Music—<00:07:30.755> it's<00:07:31.044> already<00:07:31.621> an<00:07:31.718> incredible<00:07:32.167> brand,<00:07:32.648> obviously—<00:07:33.932> Beats,<00:07:34.814> uh,<00:07:35.055> eventually<00:07:35.392> gets<00:07:35.568> acquired<00:07:36.098> by,<00:07:36.820> um,<00:07:37.381> headphones.

00:07:37.782 --> 00:07:38.697
Was<00:07:37.895> it<00:07:37.959> part<00:07:38.135> of<00:07:38.199> the<00:07:38.280> same<00:07:38.520> deal?

00:07:39.162 --> 00:07:39.643
Was<00:07:39.403> the—.

00:07:39.707 --> 00:07:48.033
Yeah,<00:07:40.590> Apple<00:07:40.863> acquired<00:07:41.809> the<00:07:41.953> whole<00:07:42.515> Beats<00:07:42.707> Electronics<00:07:44.215> family,<00:07:44.761> including<00:07:45.338> those—<00:07:45.804> the<00:07:45.980> music<00:07:46.301> service<00:07:46.782> and<00:07:47.103> the<00:07:47.408> hardware<00:07:47.809> business.

00:07:48.787 --> 00:07:50.873
How<00:07:48.884> long<00:07:49.108> did<00:07:49.269> you<00:07:49.333> stay<00:07:49.654> on<00:07:49.894> at<00:07:50.231> Apple<00:07:50.472> Music?

00:07:51.579 --> 00:07:53.809
Oh,<00:07:51.675> I<00:07:51.755> wasn't<00:07:52.076> even<00:07:52.237> there<00:07:52.541> when<00:07:52.782> kind<00:07:52.862> of<00:07:52.959> the<00:07:53.039> whole<00:07:53.279> thing<00:07:53.424> was<00:07:53.600> done.

00:07:54.162 --> 00:07:56.664
I've<00:07:54.466> already<00:07:55.365> gotten<00:07:55.606> on<00:07:55.750> a<00:07:55.830> plane<00:07:56.087> back<00:07:56.263> to<00:07:56.343> Sweden.

00:07:56.825 --> 00:08:08.696
So<00:07:57.691> yeah,<00:07:58.028> uh,<00:07:58.172> I—<00:07:58.798> it<00:07:59.440> was,<00:07:59.761> um,<00:08:00.498> I,<00:08:00.739> I—<00:08:00.996> so<00:08:01.621> I<00:08:01.702> never<00:08:01.958> moved<00:08:02.263> my<00:08:02.488> family,<00:08:03.530> uh,<00:08:03.627> they<00:08:03.787> were<00:08:03.867> still<00:08:04.092> in<00:08:04.188> Stockholm<00:08:04.669> during<00:08:04.910> the<00:08:05.055> whole<00:08:05.391> years<00:08:05.792> I<00:08:05.873> was<00:08:06.033> doing<00:08:06.338> this<00:08:06.595> because<00:08:06.755> it<00:08:06.819> was<00:08:06.948> going<00:08:07.108> to<00:08:07.156> be<00:08:07.252> a<00:08:07.316> global<00:08:07.958> company,<00:08:08.423> obviously.

00:08:08.792 --> 00:08:14.185
So<00:08:08.937> it's<00:08:09.707> basically<00:08:10.269> living<00:08:10.911> the<00:08:11.071> worst<00:08:11.553> years<00:08:11.874> of<00:08:11.906> my<00:08:12.114> life<00:08:12.451> on<00:08:12.532> a<00:08:12.612> plane,<00:08:13.639> right?

00:08:14.618 --> 00:08:18.261
Um,<00:08:14.939> more<00:08:15.003> or<00:08:15.099> less<00:08:15.340> every<00:08:15.517> second<00:08:15.902> week,<00:08:16.528> um,<00:08:17.025> flying<00:08:17.346> over<00:08:17.828> the<00:08:17.892> whole<00:08:18.052> world.

00:08:18.614 --> 00:08:22.337
Yeah,<00:08:19.529> so<00:08:19.673> it<00:08:19.818> wasn't<00:08:20.139> optimal<00:08:20.556> for<00:08:20.700> me<00:08:20.797> from<00:08:21.499> a<00:08:21.519> private<00:08:21.840> perspective.

00:08:22.401 --> 00:08:26.093
And<00:08:22.546> when,<00:08:22.883> when<00:08:22.963> the—<00:08:23.509> when<00:08:23.605> this<00:08:23.766> was<00:08:23.910> going<00:08:24.038> to<00:08:24.071> happen,<00:08:24.375> I<00:08:24.392> was<00:08:24.648> like,<00:08:24.873> no,<00:08:25.050> it's<00:08:25.210> time<00:08:25.370> to<00:08:25.467> go<00:08:25.611> back<00:08:25.836> home.

00:08:26.253 --> 00:08:27.296
So<00:08:26.735> I<00:08:26.799> went<00:08:27.040> home.

00:08:28.323 --> 00:08:41.032
Um,<00:08:29.784> they<00:08:30.490> did<00:08:30.667> good<00:08:30.891> with<00:08:31.052> me<00:08:31.308> financially,<00:08:32.191> and,<00:08:32.576> uh,<00:08:33.154> my<00:08:33.379> team<00:08:33.571> stayed<00:08:33.860> on<00:08:34.117> for<00:08:34.261> Apple,<00:08:34.823> and,<00:08:35.096> uh<00:08:35.946> I<00:08:36.460> sat<00:08:36.749> down<00:08:36.909> with<00:08:37.005> Daniel,<00:08:37.711> who's<00:08:38.193> a<00:08:38.273> friend<00:08:38.594> here<00:08:39.011> in<00:08:39.091> Stockholm,<00:08:39.637> and<00:08:39.813> Martin,<00:08:40.214> founders<00:08:40.535> of<00:08:40.599> Spotify.

00:08:41.161 --> 00:08:52.135
I<00:08:41.177> said,<00:08:41.738> look,<00:08:41.963> I<00:08:42.059> think<00:08:42.300> there's<00:08:42.540> an<00:08:42.621> opportunity<00:08:43.278> to<00:08:44.225> do<00:08:44.530> what<00:08:44.706> we've<00:08:44.947> done<00:08:45.412> at<00:08:45.685> Spotify<00:08:46.295> and<00:08:46.391> at<00:08:46.551> Beats<00:08:47.033> but<00:08:47.338> in<00:08:47.514> the<00:08:48.781> business-to-business<00:08:49.616> market,<00:08:50.306> um,<00:08:50.787> basically<00:08:51.204> business<00:08:51.445> subscriptions.

00:08:52.199 --> 00:08:56.081
So<00:08:53.049> music<00:08:53.514> in<00:08:53.627> store—<00:08:54.092> when<00:08:54.236> you<00:08:54.317> walk<00:08:54.573> into<00:08:54.910> Starbucks,<00:08:55.440> there's<00:08:55.616> music,<00:08:55.921> right?

00:08:56.274 --> 00:09:04.729
Or<00:08:56.499> when<00:08:56.659> you<00:08:56.884> walk<00:08:57.140> into<00:08:57.461> a,<00:08:58.889> a,<00:08:59.290> uh,<00:08:59.932> you<00:09:00.028> know,<00:09:00.413> a<00:09:00.654> cool<00:09:01.055> shop<00:09:01.488> in,<00:09:02.034> in<00:09:02.435> Santa<00:09:02.691> Monica<00:09:03.317> or<00:09:03.462> New<00:09:03.542> York,<00:09:03.959> there's<00:09:04.200> music<00:09:04.456> playing.

00:09:04.890 --> 00:09:16.051
96%<00:09:05.643> of<00:09:06.028> all<00:09:06.429> US<00:09:06.830> businesses<00:09:07.327> play<00:09:07.568> music<00:09:08.225> in<00:09:08.353> order<00:09:08.626> to<00:09:09.492> kind<00:09:09.716> of<00:09:09.893> improve<00:09:10.214> the<00:09:10.294> customer<00:09:10.614> experience,<00:09:11.256> and<00:09:11.577> streaming<00:09:12.042> had<00:09:12.282> not<00:09:12.779> been<00:09:13.004> made<00:09:13.196> available<00:09:13.886> for<00:09:13.982> the<00:09:14.062> business<00:09:14.271> market,<00:09:14.624> and<00:09:14.704> I<00:09:14.720> thought<00:09:15.024> I'd<00:09:15.329> build<00:09:15.506> that<00:09:15.746> service.

00:09:16.692 --> 00:09:17.093
Here<00:09:16.853> I<00:09:16.869> am.

00:09:18.055 --> 00:09:27.180
Yeah,<00:09:18.168> so<00:09:18.376> you<00:09:18.472> co-founded,<00:09:19.098> uh,<00:09:19.354> Spotify<00:09:20.076> Business,<00:09:21.824> and,<00:09:22.305> uh,<00:09:22.706> how<00:09:22.882> long<00:09:23.043> did<00:09:23.267> that<00:09:23.524> take<00:09:23.828> to<00:09:24.005> kind<00:09:24.310> of<00:09:24.406> grow<00:09:24.887> within<00:09:25.288> the<00:09:25.512> overall<00:09:26.106> Spotify<00:09:26.651> brand?

00:09:28.335 --> 00:09:41.877
So<00:09:28.639> I,<00:09:28.880> I<00:09:28.976> always<00:09:29.201> wanted<00:09:29.457> to<00:09:29.938> build<00:09:30.195> something<00:09:30.580> independent<00:09:31.350> but<00:09:31.686> I<00:09:31.718> needed,<00:09:32.567> um,<00:09:33.689> a<00:09:33.769> music<00:09:34.186> backend,<00:09:34.666> kind<00:09:34.827> of<00:09:34.907> the<00:09:35.067> infrastructure<00:09:35.708> to<00:09:35.868> build<00:09:36.429> the<00:09:36.573> business-to-business<00:09:37.310> SaaS<00:09:37.695> product<00:09:38.191> on<00:09:38.272> top<00:09:38.656> of,<00:09:39.393> um,<00:09:40.114> 100<00:09:40.499> Million<00:09:40.755> Tracks<00:09:41.236> infrastructure.

00:09:42.358 --> 00:09:51.202
So<00:09:43.063> I<00:09:43.239> told<00:09:43.543> Daniel,<00:09:44.200> let's<00:09:44.905> do<00:09:45.081> it<00:09:45.226> as<00:09:45.466> a,<00:09:45.803> um,<00:09:47.084> joint<00:09:47.325> venture,<00:09:48.350> but<00:09:48.767> I<00:09:48.847> want<00:09:48.991> to<00:09:49.023> make<00:09:49.328> it<00:09:49.424> an<00:09:49.552> independent<00:09:50.049> company<00:09:50.642> down<00:09:50.786> the<00:09:50.930> line.

00:09:51.955 --> 00:09:55.513
And<00:09:52.212> so<00:09:52.372> we<00:09:52.452> set<00:09:52.693> it<00:09:52.837> up<00:09:53.013> as<00:09:53.237> a—<00:09:54.215> Spotify<00:09:54.679> was<00:09:54.840> my<00:09:55.016> co-founder.

00:09:55.577 --> 00:10:06.165
I<00:09:55.657> invested<00:09:56.618> the<00:09:56.698> money<00:09:57.003> I<00:09:57.099> made<00:09:57.355> in<00:09:57.516> Spotify<00:09:58.140> AB<00:09:59.520> Swedish<00:09:59.905> entity,<00:10:00.692> the<00:10:00.788> mother<00:10:01.093> entity<00:10:01.446> invested<00:10:02.537> and<00:10:02.634> we<00:10:02.714> started<00:10:03.099> building,<00:10:03.501> but<00:10:03.597> I<00:10:03.661> was<00:10:03.838> building<00:10:04.078> it<00:10:04.223> on<00:10:04.319> top<00:10:04.656> of<00:10:04.785> the<00:10:04.817> Spotify<00:10:05.363> music<00:10:05.684> backend.

00:10:06.807 --> 00:10:13.148
Hence<00:10:07.770> the<00:10:07.915> product<00:10:08.252> needed<00:10:08.428> to<00:10:08.493> be<00:10:08.637> called<00:10:08.878> Spotify<00:10:10.018> Business<00:10:10.419> and<00:10:10.579> then<00:10:10.740> later<00:10:11.045> Spotify<00:10:11.542> Enterprise<00:10:12.185> for<00:10:12.329> the<00:10:12.409> enterprise<00:10:12.811> market.

00:10:13.709 --> 00:10:18.814
And<00:10:13.790> Spotify<00:10:14.271> was<00:10:14.432> an<00:10:14.512> investor,<00:10:16.519> but<00:10:17.482> that<00:10:17.642> was<00:10:17.819> 2014.

00:10:18.862 --> 00:10:26.567
In<00:10:18.926> 2016,<00:10:20.435> I<00:10:20.531> decided<00:10:21.157> it's<00:10:21.334> time<00:10:21.655> to<00:10:21.719> move<00:10:21.816> away<00:10:21.992> from<00:10:22.281> home,<00:10:22.618> so<00:10:22.731> to<00:10:22.795> speak,<00:10:23.180> and<00:10:23.373> kind<00:10:23.469> of<00:10:23.662> pivot<00:10:23.983> into<00:10:24.207> becoming<00:10:24.480> an<00:10:24.560> independent<00:10:25.106> player<00:10:25.507> and<00:10:25.668> go<00:10:25.989> for<00:10:26.085> it<00:10:26.150> myself.

00:10:27.413 --> 00:10:36.915
And,<00:10:27.736> um,<00:10:28.157> 2018<00:10:29.113> we<00:10:29.453> launched<00:10:29.777> Soundtrack<00:10:30.506> as<00:10:30.651> an<00:10:30.684> independent<00:10:32.222> service<00:10:32.708> brand,<00:10:33.566> um,<00:10:34.230> rolled<00:10:34.538> out<00:10:34.959> 74<00:10:35.672> markets<00:10:36.014> during<00:10:36.422> 2<00:10:36.609> years.

00:10:39.097 --> 00:10:47.786
And<00:10:39.436> then<00:10:39.838> Spotify<00:10:40.241> is,<00:10:40.418> uh,<00:10:41.127> merely<00:10:41.756> a<00:10:41.852> shareholder<00:10:42.400> on<00:10:42.481> the<00:10:42.578> cap<00:10:42.835> table<00:10:43.093> today<00:10:43.206> and<00:10:43.286> a<00:10:43.464> good<00:10:43.689> partner,<00:10:44.253> but<00:10:45.010> Soundtrack<00:10:45.478> is<00:10:45.655> an<00:10:45.816> independent<00:10:46.364> B2B<00:10:47.186> streaming<00:10:47.492> service.

00:10:48.226 --> 00:10:49.041
That's<00:10:48.487> incredible.

00:10:49.758 --> 00:10:49.840
Yeah.

00:10:51.062 --> 00:10:52.758
So<00:10:51.242> how<00:10:51.552> is,<00:10:51.796> how<00:10:51.992> is<00:10:52.073> Soundtrack<00:10:52.628> doing?

00:10:53.527 --> 00:10:56.716
I<00:10:53.544> mean,<00:10:53.754> it's<00:10:54.159> the<00:10:54.806> global<00:10:55.793> brand<00:10:56.117> for<00:10:56.262> this,<00:10:56.521> right?

00:10:57.719 --> 00:10:57.962
Right.

00:10:58.043 --> 00:10:59.515
Yeah,<00:10:58.382> we<00:10:58.609> are<00:10:58.771> the<00:10:58.949> first.

00:10:59.758 --> 00:11:07.263
Believe<00:11:00.001> it<00:11:00.082> or<00:11:00.163> not,<00:11:00.648> streaming<00:11:01.053> had<00:11:01.215> not<00:11:01.376> occurred<00:11:01.942> in<00:11:02.103> the—<00:11:02.906> what<00:11:03.549> you<00:11:03.630> guys<00:11:03.887> in<00:11:03.967> the<00:11:04.096> US<00:11:04.417> refer<00:11:04.675> to<00:11:04.819> as<00:11:04.916> background<00:11:05.462> music,<00:11:06.507> right,<00:11:06.780> market.

00:11:07.472 --> 00:11:11.024
And,<00:11:07.793> um,<00:11:09.899> they<00:11:10.059> were<00:11:10.156> shipping<00:11:10.542> CDs.

00:11:11.168 --> 00:11:12.084
I<00:11:11.329> didn't<00:11:11.650> believe<00:11:12.052> it.

00:11:12.212 --> 00:11:16.614
Like,<00:11:12.710> I<00:11:12.775> was<00:11:12.823> talking<00:11:13.192> to<00:11:13.337> retailers<00:11:13.915> and<00:11:13.963> I<00:11:13.980> was<00:11:14.076> like,<00:11:14.301> okay,<00:11:14.558> we<00:11:14.638> ship<00:11:15.040> 5,000<00:11:15.715> CDs<00:11:15.988> every<00:11:16.309> 4<00:11:16.405> weeks.

00:11:16.727 --> 00:11:20.309
And<00:11:16.871> I<00:11:16.968> was<00:11:17.209> like,<00:11:17.434> okay,<00:11:17.915> this<00:11:18.076> is,<00:11:18.397> this<00:11:18.558> is<00:11:18.671> a<00:11:18.735> market<00:11:19.522> ripe<00:11:19.779> for<00:11:19.859> disruption.

00:11:21.577 --> 00:11:24.735
And<00:11:22.539> answering<00:11:22.860> your<00:11:22.956> question,<00:11:23.437> we're<00:11:23.517> doing<00:11:24.222> really<00:11:24.479> well.

00:11:25.906 --> 00:11:30.218
We<00:11:26.066> are<00:11:26.403> a<00:11:27.028> typical<00:11:27.445> Swedish,<00:11:28.311> like,<00:11:28.567> tech<00:11:29.048> product-first<00:11:29.914> company.

00:11:30.555 --> 00:11:40.639
We're<00:11:30.651> only<00:11:30.876> 100<00:11:31.196> employees,<00:11:32.431> so<00:11:32.575> we're<00:11:32.896> super<00:11:33.297> small,<00:11:33.777> but<00:11:34.082> we're<00:11:34.419> scaling<00:11:35.541> into<00:11:36.968> the<00:11:37.048> global<00:11:37.305> markets<00:11:38.266> through<00:11:38.763> selling<00:11:39.148> software<00:11:39.565> self-service<00:11:40.254> to<00:11:40.351> businesses.

00:11:40.832 --> 00:11:51.765
So<00:11:41.649> if<00:11:41.777> you're<00:11:41.858> running<00:11:42.258> 10<00:11:42.515> steakhouses<00:11:43.300> in<00:11:43.381> Chicago,<00:11:44.663> you<00:11:44.920> go<00:11:45.000> online<00:11:45.561> and<00:11:45.705> you<00:11:45.737> sign<00:11:46.042> up<00:11:46.122> for<00:11:46.202> Soundtrack,<00:11:46.763> and<00:11:46.844> we<00:11:47.004> take<00:11:47.164> care<00:11:47.405> of<00:11:47.485> the<00:11:47.565> whole<00:11:47.805> licensing<00:11:48.703> issue<00:11:49.088> with<00:11:49.393> background<00:11:49.729> music<00:11:50.274> for<00:11:51.092> for<00:11:51.188> your<00:11:51.332> venues.

00:11:51.957 --> 00:12:07.997
Also,<00:11:52.214> we<00:11:52.374> give<00:11:52.534> you<00:11:52.710> a<00:11:52.758> very<00:11:53.015> powerful<00:11:53.592> software,<00:11:55.242> um,<00:11:56.219> very<00:11:56.460> powerful<00:11:56.796> SaaS<00:11:57.245> platform<00:11:57.918> to<00:11:59.024> help<00:11:59.648> the<00:11:59.745> entrepreneurs<00:12:00.241> deliver<00:12:00.690> the<00:12:00.866> right<00:12:01.171> music<00:12:01.651> to<00:12:01.748> the<00:12:01.908> right<00:12:02.324> place<00:12:02.629> at<00:12:02.725> the<00:12:02.853> right<00:12:03.029> time<00:12:03.847> so<00:12:04.071> that<00:12:04.231> the<00:12:04.375> customers<00:12:04.792> stay<00:12:05.096> longer<00:12:05.433> for<00:12:05.513> a<00:12:05.657> drink<00:12:06.058> or<00:12:06.154> really<00:12:06.619> experience<00:12:07.276> the<00:12:07.436> brand,<00:12:07.820> right?

00:12:08.077 --> 00:12:12.756
So,<00:12:09.695> so,<00:12:10.304> um,<00:12:11.025> we—<00:12:11.522> but<00:12:11.682> we're<00:12:11.826> still<00:12:12.227> very<00:12:12.483> small.

00:12:13.284 --> 00:12:24.398
We<00:12:14.006> were<00:12:14.807> just<00:12:16.008> passing<00:12:16.409> $25<00:12:16.826> million<00:12:17.675> in<00:12:18.637> annual<00:12:19.038> recurring<00:12:19.455> revenue,<00:12:20.322> ARR,<00:12:21.285> and<00:12:21.445> growing<00:12:22.408> at<00:12:22.649> around<00:12:22.841> 60%<00:12:23.932> last<00:12:24.269> year.

00:12:24.446 --> 00:12:42.513
So<00:12:25.328> it's<00:12:25.489> a<00:12:25.617> nice,<00:12:26.740> um,<00:12:28.040> really<00:12:28.361> scalable<00:12:29.580> SaaS<00:12:30.046> business<00:12:30.607> with<00:12:31.169> a<00:12:31.490> very,<00:12:31.891> very<00:12:32.693> deep<00:12:33.078> moat<00:12:34.041> right<00:12:34.218> now<00:12:34.458> because<00:12:34.635> it's—<00:12:35.244> we've<00:12:35.405> spent<00:12:36.239> $70<00:12:36.608> million<00:12:36.865> building<00:12:37.587> it<00:12:37.748> and<00:12:38.373> yeah,<00:12:38.630> 16,200<00:12:39.914> deals<00:12:40.299> with<00:12:40.459> labels<00:12:40.732> and<00:12:40.860> publishers<00:12:41.278> that<00:12:41.374> no<00:12:41.518> one<00:12:41.663> else<00:12:41.839> in<00:12:41.903> the<00:12:42.000> world<00:12:42.224> has.

00:12:43.283 --> 00:12:48.515
So<00:12:43.668> I<00:12:43.829> think<00:12:44.070> we,<00:12:44.727> we're<00:12:44.872> just<00:12:45.129> about<00:12:45.450> to<00:12:45.514> move<00:12:45.754> in<00:12:46.573> to<00:12:47.038> kind<00:12:47.215> of<00:12:47.552> a<00:12:47.616> scale-up<00:12:48.178> stage.

00:12:48.579 --> 00:12:55.787
And,<00:12:49.061> and<00:12:49.286> I<00:12:49.382> think,<00:12:50.490> you<00:12:50.586> know,<00:12:50.843> I'm<00:12:51.132> a,<00:12:51.710> I'm<00:12:51.870> a<00:12:52.175> constant<00:12:52.592> opportunist<00:12:53.459> by<00:12:53.540> nature,<00:12:54.005> and<00:12:54.342> so<00:12:54.519> sky's<00:12:54.904> the<00:12:54.984> limit,<00:12:55.321> as<00:12:55.466> always.

00:12:57.167 --> 00:12:57.633
I<00:12:57.248> love<00:12:57.472> that.

00:12:57.745 --> 00:13:01.919
Hey,<00:12:58.034> uh,<00:12:58.532> what<00:12:58.692> are<00:12:58.757> the<00:12:58.853> copyright<00:12:59.559> issues<00:13:00.924> with,<00:13:01.164> with<00:13:01.582> the<00:13:01.662> whole<00:13:01.806> thing?

00:13:01.967 --> 00:13:04.006
I<00:13:01.983> mean,<00:13:02.208> I<00:13:02.224> imagine<00:13:02.625> that's<00:13:02.866> where<00:13:03.026> the<00:13:03.171> opportunity<00:13:03.749> is,<00:13:03.909> right?

00:13:04.070 --> 00:13:13.685
It's<00:13:04.214> like<00:13:04.391> you,<00:13:04.632> you<00:13:04.856> can<00:13:04.969> officially<00:13:05.514> license<00:13:05.916> this<00:13:06.141> music,<00:13:07.104> officially<00:13:07.585> license<00:13:08.227> it<00:13:08.404> with,<00:13:08.885> with<00:13:09.046> the<00:13:09.206> artist<00:13:09.704> or<00:13:09.913> their,<00:13:10.394> um,<00:13:11.357> producers<00:13:11.871> or<00:13:12.176> whatever,<00:13:12.722> whatever<00:13:12.995> they're<00:13:13.203> called.

00:13:15.211 --> 00:13:19.933
And<00:13:15.452> I<00:13:15.468> imagine<00:13:15.885> it's<00:13:16.030> different<00:13:16.512> in<00:13:16.656> every<00:13:16.913> country<00:13:17.476> and<00:13:17.556> maybe<00:13:17.797> even<00:13:18.102> in<00:13:18.198> every<00:13:18.600> state<00:13:19.002> in<00:13:19.082> the<00:13:19.162> United<00:13:19.435> States.

00:13:20.672 --> 00:13:22.471
I<00:13:20.929> mean,<00:13:21.266> is<00:13:21.411> that<00:13:21.571> the<00:13:21.716> kind<00:13:21.828> of<00:13:21.893> the<00:13:21.973> challenge?

00:13:23.563 --> 00:13:31.964
Yeah,<00:13:23.884> so<00:13:25.507> without<00:13:25.908> becoming<00:13:28.141> like<00:13:29.040> too<00:13:29.265> long<00:13:29.442> of<00:13:29.538> a<00:13:29.602> story,<00:13:30.165> so<00:13:30.968> think<00:13:31.128> of<00:13:31.273> it<00:13:31.369> like<00:13:31.610> this.

00:13:32.574 --> 00:13:35.706
No<00:13:33.040> one's<00:13:33.281> opening<00:13:33.618> cinemas<00:13:34.261> with<00:13:34.485> Netflix<00:13:34.983> accounts,<00:13:35.465> right?

00:13:36.268 --> 00:13:53.508
So<00:13:36.814> there's,<00:13:37.296> there's<00:13:37.537> obviously<00:13:40.026> And<00:13:40.106> if<00:13:40.202> you<00:13:40.283> think<00:13:40.507> about<00:13:40.764> sports,<00:13:41.261> if<00:13:41.405> you<00:13:41.485> walk<00:13:41.725> into<00:13:42.046> a<00:13:42.062> sports<00:13:42.527> bar<00:13:42.687> in<00:13:42.767> the<00:13:42.912> US<00:13:43.793> on<00:13:44.194> Sunday<00:13:45.028> night<00:13:45.493> football,<00:13:46.599> that's<00:13:46.791> a<00:13:46.935> business<00:13:47.176> subscription,<00:13:48.122> and<00:13:48.218> that<00:13:48.378> costs<00:13:48.763> the<00:13:48.859> bar<00:13:49.100> owner,<00:13:49.565> you<00:13:49.645> know,<00:13:50.542> 100<00:13:50.863> times<00:13:51.248> more<00:13:51.424> than<00:13:52.546> the<00:13:52.867> private<00:13:53.204> account.

00:13:54.069 --> 00:13:58.125
There's<00:13:54.310> a<00:13:54.454> whole<00:13:54.855> B2B<00:13:55.672> side<00:13:56.298> of<00:13:56.474> media<00:13:56.971> and<00:13:57.115> rights<00:13:57.516> and<00:13:57.596> IP,<00:13:57.997> right?

00:13:58.863 --> 00:14:00.642
So<00:13:59.440> the<00:13:59.536> same<00:13:59.760> thing<00:13:59.921> goes<00:14:00.145> for<00:14:00.209> music.

00:14:00.866 --> 00:14:17.960
If<00:14:01.043> you're<00:14:01.267> going<00:14:01.363> to<00:14:01.444> use<00:14:01.700> music<00:14:02.245> to<00:14:03.864> improve<00:14:04.249> the<00:14:04.329> customer<00:14:04.794> experience<00:14:05.756> in<00:14:05.852> your<00:14:06.253> restaurant<00:14:06.895> or<00:14:06.975> your<00:14:07.135> retail,<00:14:07.921> anything<00:14:08.338> from<00:14:09.444> The<00:14:09.605> Gap<00:14:10.342> to<00:14:11.385> the<00:14:11.465> small<00:14:11.946> mom-and-pop<00:14:12.523> store,<00:14:13.454> they<00:14:13.614> need<00:14:13.951> to<00:14:14.352> cover<00:14:15.218> a<00:14:15.859> business-grade<00:14:16.837> licensed<00:14:17.495> service.

00:14:18.200 --> 00:14:22.338
And<00:14:19.227> I'm<00:14:19.403> the<00:14:19.547> first<00:14:20.285> business-grade<00:14:20.846> licensed<00:14:21.167> service<00:14:21.568> for<00:14:21.728> streaming.

00:14:23.156 --> 00:14:31.110
Um,<00:14:24.198> and<00:14:24.375> it's<00:14:24.775> a,<00:14:24.920> it's,<00:14:25.641> it's<00:14:25.818> a<00:14:26.042> very<00:14:26.363> complex<00:14:26.940> exercise<00:14:27.582> to<00:14:27.662> get<00:14:27.983> deals<00:14:28.368> with<00:14:28.608> obviously<00:14:29.009> Warner<00:14:29.266> Music,<00:14:29.683> Sony<00:14:30.019> Music,<00:14:30.468> Universal<00:14:30.821> Music.

00:14:31.190 --> 00:14:33.806
I<00:14:31.350> could<00:14:31.495> keep<00:14:31.912> go<00:14:32.618> on<00:14:33.260> tomorrow<00:14:33.517> morning.

00:14:34.818 --> 00:14:41.512
So<00:14:35.363> it<00:14:35.444> took<00:14:35.684> us<00:14:36.166> obviously<00:14:37.466> a<00:14:37.531> couple<00:14:37.787> of<00:14:37.836> hundred<00:14:38.092> sleepless<00:14:38.654> nights<00:14:39.056> and<00:14:40.404> me<00:14:40.501> being<00:14:40.806> on<00:14:40.934> a<00:14:40.982> plane<00:14:41.287> again.

00:14:42.106 --> 00:14:50.984
And<00:14:43.727> 3<00:14:43.936> years<00:14:44.177> later,<00:14:44.514> we<00:14:45.076> launched<00:14:45.317> our<00:14:45.541> first<00:14:45.718> markets,<00:14:46.119> and<00:14:46.440> now<00:14:46.601> we're<00:14:47.163> live<00:14:47.388> with<00:14:47.484> 98<00:14:47.965> million<00:14:48.287> tracks<00:14:48.688> in<00:14:48.768> 74<00:14:49.330> markets<00:14:49.812> for<00:14:50.454> business<00:14:50.839> use.

00:14:52.380 --> 00:14:53.279
That's<00:14:52.701> incredible.

00:14:53.889 --> 00:15:01.141
So<00:14:54.130> how<00:14:54.226> do<00:14:54.307> you<00:14:54.467> close<00:14:54.852> those<00:14:55.109> deals<00:14:55.495> with<00:14:55.655> like<00:14:56.634> Warner<00:14:57.036> Music<00:14:57.919> or<00:14:59.445> you<00:14:59.478> know,<00:14:59.626> Sony<00:15:00.120> or<00:15:00.515> whatever<00:15:00.927> it<00:15:01.009> is?

00:15:01.190 --> 00:15:02.557
I<00:15:01.256> mean,<00:15:01.503> what,<00:15:01.767> what,<00:15:02.014> what's<00:15:02.261> the<00:15:02.409> pitch?

00:15:04.422 --> 00:15:18.451
Um,<00:15:06.013> hey,<00:15:06.254> you<00:15:06.350> need<00:15:06.511> to<00:15:06.591> know<00:15:06.912> how<00:15:07.057> to<00:15:07.153> do<00:15:07.234> it,<00:15:07.378> obviously,<00:15:07.780> and<00:15:07.877> I've<00:15:08.021> done<00:15:08.198> it<00:15:08.343> a<00:15:08.359> couple<00:15:08.535> of<00:15:08.600> times,<00:15:09.098> and<00:15:09.178> my<00:15:09.403> team—<00:15:10.833> I,<00:15:11.091> I've<00:15:11.315> obviously<00:15:11.573> haven't<00:15:11.798> done<00:15:11.958> it<00:15:12.039> myself,<00:15:12.858> uh,<00:15:13.581> I<00:15:13.630> have<00:15:13.822> a<00:15:13.983> very,<00:15:14.304> very<00:15:14.594> experienced<00:15:15.108> team<00:15:15.815> on<00:15:15.911> all<00:15:16.072> levels,<00:15:16.474> on<00:15:16.635> product<00:15:17.101> and<00:15:17.261> licensing<00:15:17.920> and<00:15:18.081> everything.

00:15:19.270 --> 00:15:29.357
Um,<00:15:20.315> but<00:15:20.572> I<00:15:20.652> think,<00:15:21.279> uh,<00:15:21.697> your<00:15:21.857> real<00:15:22.163> question<00:15:22.645> is<00:15:22.790> why<00:15:22.984> would<00:15:23.210> they,<00:15:23.793> why<00:15:24.019> would<00:15:24.100> they<00:15:24.262> be<00:15:24.375> interested<00:15:24.828> in<00:15:24.926> talking<00:15:25.314> to<00:15:25.411> you<00:15:25.638> about<00:15:25.913> something<00:15:27.238> as<00:15:27.559> unsexy<00:15:28.137> as<00:15:28.298> background<00:15:28.779> music,<00:15:29.165> right?

00:15:29.823 --> 00:15:31.043
Yeah.

00:15:31.284 --> 00:15:45.430
Because<00:15:32.151> really<00:15:32.472> it's<00:15:32.633> an<00:15:32.793> incremental<00:15:33.757> market<00:15:34.142> opportunity<00:15:34.961> for<00:15:35.121> music<00:15:35.443> rights<00:15:35.683> holders,<00:15:36.310> meaning<00:15:37.674> it's<00:15:38.734> more<00:15:39.360> money<00:15:40.019> for<00:15:40.115> them<00:15:41.367> from<00:15:42.010> a<00:15:42.170> market<00:15:42.588> that<00:15:42.829> they<00:15:42.973> were<00:15:43.069> not<00:15:43.390> monetizing<00:15:44.514> correctly<00:15:45.076> before.

00:15:45.960 --> 00:15:52.446
So<00:15:46.136> it's<00:15:46.297> a<00:15:46.441> very<00:15:46.987> easy<00:15:47.405> logic<00:15:47.726> to<00:15:47.822> say,<00:15:48.031> hey,<00:15:48.207> I'm<00:15:48.448> selling<00:15:48.834> subscriptions<00:15:49.492> for<00:15:49.652> $50,<00:15:50.680> Daniel<00:15:51.033> at<00:15:51.162> Spotify<00:15:51.643> is<00:15:51.676> selling<00:15:51.932> for<00:15:52.157> $10.

00:15:52.783 --> 00:16:03.149
That<00:15:52.944> means<00:15:53.169> that<00:15:53.265> you're<00:15:53.426> making<00:15:53.827> 5<00:15:54.132> times<00:15:54.550> more<00:15:55.753> By<00:15:55.978> just<00:15:56.299> allowing<00:15:56.796> me<00:15:57.117> to<00:15:57.903> create<00:15:58.416> the<00:15:58.625> concept<00:15:59.219> and<00:15:59.283> market<00:15:59.604> the<00:15:59.748> concept<00:16:00.245> of<00:16:00.390> business<00:16:00.630> subscriptions,<00:16:01.689> you<00:16:01.850> don't<00:16:01.994> really<00:16:02.235> have<00:16:02.395> to<00:16:02.491> do<00:16:02.652> anything.

00:16:03.695 --> 00:16:08.877
You<00:16:03.839> just<00:16:04.096> gotta,<00:16:04.737> you<00:16:04.818> know,<00:16:05.203> help<00:16:05.459> me<00:16:05.620> regulate<00:16:06.101> the<00:16:06.181> market<00:16:06.887> and<00:16:07.128> protect<00:16:07.513> your<00:16:07.625> IP<00:16:08.107> and<00:16:08.187> make<00:16:08.492> more<00:16:08.652> money.

00:16:09.791 --> 00:16:11.251
Yeah.

00:16:11.299 --> 00:16:17.508
And<00:16:11.460> if<00:16:11.540> you're<00:16:11.716> an<00:16:11.861> IP<00:16:12.518> holder,<00:16:14.267> you're<00:16:14.428> out<00:16:14.668> to<00:16:14.748> maximize<00:16:15.406> the<00:16:15.727> return<00:16:16.208> on<00:16:16.609> your<00:16:16.754> IP<00:16:17.235> holding.

00:16:18.454 --> 00:16:28.882
Hence,<00:16:18.855> it's<00:16:19.016> a<00:16:19.096> pretty<00:16:19.256> easy—<00:16:19.962> once<00:16:20.363> you<00:16:20.460> get<00:16:20.765> them<00:16:21.021> to<00:16:21.262> understand,<00:16:22.064> and<00:16:22.144> then<00:16:22.369> you<00:16:22.465> got<00:16:22.577> to<00:16:22.706> do<00:16:22.786> that<00:16:23.027> 16,200<00:16:24.230> times<00:16:24.631> and<00:16:25.194> keep<00:16:25.435> everyone<00:16:25.838> happy<00:16:26.241> and<00:16:26.547> hold<00:16:26.804> hands<00:16:27.062> and<00:16:27.142> sing<00:16:27.432> Kumbaya<00:16:28.173> while<00:16:28.334> you're<00:16:28.495> doing<00:16:28.801> it.

00:16:28.962 --> 00:16:34.633
But<00:16:29.928> it,<00:16:30.170> it,<00:16:30.412> it's<00:16:30.814> obviously<00:16:31.152> not<00:16:31.378> trivial,<00:16:31.797> but<00:16:31.958> the,<00:16:32.199> the<00:16:32.425> business<00:16:33.149> logic<00:16:33.504> of<00:16:33.649> it<00:16:33.729> is<00:16:34.100> quite<00:16:34.455> trivial.

00:16:36.233 --> 00:16:38.302
And<00:16:36.314> now<00:16:36.557> how<00:16:36.799> does<00:16:37.106> AI<00:16:37.446> affect<00:16:37.834> all<00:16:38.012> of<00:16:38.157> this?

00:16:38.739 --> 00:16:42.942
And<00:16:38.901> we're<00:16:39.062> already<00:16:39.305> seeing<00:16:39.612> like,<00:16:40.097> uh,<00:16:40.339> copyright<00:16:40.857> issues<00:16:42.053> in<00:16:42.295> media.

00:16:43.249 --> 00:16:47.104
And<00:16:43.492> I<00:16:43.637> mean,<00:16:43.750> there's<00:16:43.912> a<00:16:43.976> song<00:16:44.234> that<00:16:44.379> went<00:16:44.557> viral<00:16:45.105> that's<00:16:45.282> like<00:16:45.508> based<00:16:45.766> off<00:16:45.943> of<00:16:46.072> other,<00:16:46.314> you<00:16:46.411> know,<00:16:46.507> like<00:16:46.733> other<00:16:46.975> things.

00:16:48.329 --> 00:16:49.200
What<00:16:48.426> is<00:16:48.587> this<00:16:48.748> going<00:16:48.893> to<00:16:49.071> do?

00:16:49.538 --> 00:16:51.779
What<00:16:49.715> is<00:16:49.941> this<00:16:50.118> going<00:16:50.280> to<00:16:50.360> do<00:16:50.683> to<00:16:50.828> the<00:16:51.005> entire<00:16:51.489> industry?

00:16:53.509 --> 00:16:55.098
What's<00:16:53.702> it<00:16:53.766> going<00:16:54.007> to<00:16:54.167> do<00:16:54.231> to<00:16:54.328> the<00:16:54.408> entire<00:16:54.873> world?

00:16:55.595 --> 00:16:58.467
Yeah,<00:16:55.852> that's<00:16:56.333> exactly—<00:16:56.654> yeah,<00:16:57.055> that's<00:16:57.520> a<00:16:57.536> much<00:16:57.777> bigger<00:16:58.082> question.

00:16:59.060 --> 00:17:06.601
Yeah,<00:16:59.862> like,<00:17:00.248> yeah,<00:17:00.745> I<00:17:00.905> guess<00:17:01.130> you're<00:17:01.226> old<00:17:01.387> enough<00:17:01.627> to<00:17:01.707> have<00:17:01.868> seen<00:17:02.109> more<00:17:02.269> games<00:17:02.670> when<00:17:02.814> you<00:17:02.895> were<00:17:02.991> younger,<00:17:03.328> so,<00:17:05.012> um,<00:17:06.199> I<00:17:06.344> wouldn't<00:17:06.504> know.

00:17:06.761 --> 00:17:09.954
But<00:17:07.082> so<00:17:07.627> I,<00:17:07.868> I<00:17:07.964> know,<00:17:08.028> I,<00:17:08.365> I,<00:17:08.526> yeah,<00:17:08.686> once<00:17:08.927> again,<00:17:09.167> I'm<00:17:09.264> an<00:17:09.392> opportunist.

00:17:10.050 --> 00:17:17.430
I<00:17:10.210> tend<00:17:10.451> to<00:17:10.531> see<00:17:10.852> things<00:17:11.237> as,<00:17:12.119> um,<00:17:12.617> technology<00:17:13.403> as<00:17:13.676> potential<00:17:14.622> positive,<00:17:16.210> positive<00:17:16.708> drivers,<00:17:17.253> right?

00:17:17.734 --> 00:17:27.214
And<00:17:19.952> Look,<00:17:20.355> by<00:17:20.451> no<00:17:20.757> means<00:17:21.224> is<00:17:21.707> this<00:17:21.900> a<00:17:21.965> new<00:17:22.287> concept<00:17:23.736> of<00:17:24.541> using<00:17:25.185> artificial<00:17:25.652> intelligence<00:17:26.328> in<00:17:26.376> the<00:17:26.409> music<00:17:26.859> industry.

00:17:27.262 --> 00:17:33.196
We<00:17:27.359> were<00:17:27.826> very<00:17:28.389> early<00:17:28.582> in<00:17:28.792> pioneering<00:17:29.291> it<00:17:29.837> from<00:17:30.110> a<00:17:30.175> perspective<00:17:30.753> of<00:17:30.882> actually<00:17:31.219> just<00:17:31.541> building<00:17:31.862> very<00:17:32.087> good<00:17:32.248> recommendations<00:17:33.068> engines.

00:17:33.630 --> 00:17:43.378
And<00:17:33.710> that<00:17:33.952> was<00:17:34.112> really<00:17:34.353> what<00:17:34.498> I<00:17:34.530> set<00:17:34.819> out<00:17:34.932> to<00:17:35.077> do,<00:17:35.639> training<00:17:35.961> machines<00:17:37.086> when<00:17:37.391> I<00:17:37.407> was<00:17:37.568> building<00:17:37.873> my<00:17:37.970> first<00:17:38.179> companies<00:17:38.679> and<00:17:40.471> extracting,<00:17:41.989> training<00:17:42.490> data<00:17:42.893> from<00:17:43.055> DJs.

00:17:43.620 --> 00:17:44.718
That's<00:17:43.862> really<00:17:44.104> what<00:17:44.250> I<00:17:44.266> was<00:17:44.427> doing.

00:17:45.292 --> 00:17:47.540
13,<00:17:45.934> 14<00:17:46.577> years<00:17:46.802> ago,<00:17:47.283> right?

00:17:48.247 --> 00:18:03.889
Um,<00:17:48.648> so<00:17:48.889> I've<00:17:48.986> been<00:17:49.387> very<00:17:49.692> accustomed<00:17:50.335> to<00:17:51.555> machine<00:17:52.021> learning<00:17:52.744> as<00:17:52.840> a<00:17:53.017> tool<00:17:54.205> and<00:17:54.526> artificial<00:17:55.008> intelligence,<00:17:55.651> which<00:17:55.827> is<00:17:55.972> basically<00:17:56.454> just<00:17:56.694> trying<00:17:57.016> to<00:17:57.176> replicate<00:17:57.674> human<00:17:58.060> behavior<00:17:58.541> with,<00:17:59.264> with,<00:18:00.934> uh,<00:18:01.191> training<00:18:01.512> data<00:18:02.781> and<00:18:02.958> through<00:18:03.118> data<00:18:03.359> powering.

00:18:04.467 --> 00:18:13.928
Um,<00:18:05.222> so<00:18:06.636> for<00:18:06.732> me<00:18:06.876> it's<00:18:06.989> nothing<00:18:07.374> new<00:18:07.872> in<00:18:07.936> terms<00:18:08.241> of—<00:18:08.418> I<00:18:08.434> mean,<00:18:08.659> Spotify,<00:18:09.157> the<00:18:09.221> whole<00:18:09.398> Spotify<00:18:10.410> recommendation<00:18:11.132> engine<00:18:11.791> is<00:18:12.000> based<00:18:12.337> on<00:18:13.012> artificial<00:18:13.462> intelligence.

00:18:13.976 --> 00:18:27.746
So<00:18:14.056> it's<00:18:14.281> nothing<00:18:14.554> new<00:18:15.149> when<00:18:15.325> it<00:18:15.406> comes<00:18:15.711> to<00:18:15.807> this<00:18:15.968> stuff<00:18:16.273> that's<00:18:16.450> happening<00:18:16.772> right<00:18:16.932> now<00:18:17.173> is<00:18:17.318> that<00:18:17.800> these<00:18:19.101> machines<00:18:21.415> are<00:18:21.672> becoming<00:18:22.315> more<00:18:22.556> and<00:18:22.636> more<00:18:22.733> intelligent<00:18:23.745> and<00:18:23.922> they<00:18:24.163> are<00:18:24.323> being<00:18:24.484> applied<00:18:24.966> to<00:18:25.850> music<00:18:26.251> production.

00:18:28.163 --> 00:18:47.834
And<00:18:30.509> the<00:18:30.815> issue<00:18:31.152> that<00:18:32.020> rights<00:18:32.261> holders<00:18:32.598> have<00:18:32.759> with<00:18:32.919> that,<00:18:33.160> or<00:18:33.385> artists<00:18:33.723> or<00:18:33.819> songwriters,<00:18:34.365> by<00:18:34.446> the<00:18:34.526> way,<00:18:34.623> is<00:18:34.687> that<00:18:34.847> they're<00:18:35.008> using<00:18:35.394> their<00:18:35.795> art<00:18:37.322> to<00:18:37.483> train<00:18:38.302> the<00:18:38.383> machines<00:18:39.189> to<00:18:41.269> produce<00:18:42.655> music<00:18:44.429> based<00:18:45.138> on<00:18:45.961> their<00:18:46.090> music.

00:18:47.914 --> 00:18:50.078
So<00:18:48.932> that's<00:18:49.190> what's<00:18:49.416> happening<00:18:49.820> right<00:18:49.917> now.

00:18:50.159 --> 00:19:05.926
That's<00:18:50.482> the<00:18:50.644> Drake<00:18:51.613> track<00:18:52.323> that's<00:18:52.565> out<00:18:52.905> and<00:18:52.985> Weekend<00:18:53.405> track,<00:18:54.277> which<00:18:54.520> by<00:18:54.681> the<00:18:54.730> way,<00:18:55.260> it's<00:18:56.288> like,<00:18:56.513> I<00:18:56.610> couldn't,<00:18:56.995> you<00:18:57.076> know,<00:18:57.397> when<00:18:57.558> I<00:18:57.574> heard<00:18:57.734> it,<00:18:57.815> I<00:18:57.863> was<00:18:58.056> like,<00:18:58.618> and<00:18:58.763> I've<00:18:59.598> spoken<00:18:59.920> to<00:18:59.984> a<00:19:00.048> lot<00:19:00.241> of<00:19:00.322> these<00:19:00.530> companies<00:19:00.964> and<00:19:01.093> met<00:19:01.254> a<00:19:01.270> lot<00:19:01.446> of<00:19:01.511> people<00:19:01.977> in<00:19:02.057> this<00:19:02.185> space<00:19:02.555> and<00:19:02.716> listened<00:19:02.957> to<00:19:03.037> a<00:19:03.118> lot,<00:19:03.278> but<00:19:03.439> that<00:19:03.600> was<00:19:03.841> like,<00:19:04.726> Okay,<00:19:05.055> I<00:19:05.137> can't<00:19:05.400> even<00:19:05.630> tell.

00:19:07.712 --> 00:19:30.323
And<00:19:09.483> so<00:19:09.564> of<00:19:09.789> course,<00:19:10.449> the<00:19:11.415> labels<00:19:11.899> and<00:19:11.979> publishers<00:19:12.607> are<00:19:12.768> worried<00:19:13.010> that<00:19:13.171> there's<00:19:13.332> going<00:19:13.461> to<00:19:13.573> be<00:19:13.751> a<00:19:13.831> whole<00:19:14.314> robot<00:19:15.023> army<00:19:16.150> replicating<00:19:16.891> their<00:19:17.020> music<00:19:17.598> and<00:19:18.177> consumers<00:19:18.804> won't<00:19:19.222> understand<00:19:19.784> that<00:19:20.283> it's<00:19:20.990> different,<00:19:21.456> like<00:19:23.160> that<00:19:23.385> it's<00:19:23.562> produced<00:19:24.028> by<00:19:24.124> a<00:19:24.205> machine<00:19:24.703> and<00:19:24.848> they'll<00:19:25.249> lose<00:19:25.474> their<00:19:25.700> revenue<00:19:26.141> and<00:19:26.451> they'll<00:19:28.428> be<00:19:28.755> replaced<00:19:29.637> by<00:19:29.752> machines.

00:19:31.046 --> 00:19:37.883
That's<00:19:31.256> not<00:19:31.465> going<00:19:31.577> to<00:19:31.706> happen<00:19:32.028> in<00:19:32.172> my<00:19:32.285> opinion,<00:19:33.395> but<00:19:33.958> like<00:19:34.762> it<00:19:34.907> could<00:19:35.084> be<00:19:35.245> a<00:19:35.325> part<00:19:35.567> of<00:19:35.711> the<00:19:35.744> market<00:19:36.274> that's<00:19:36.596> actually<00:19:37.014> data<00:19:37.577> produced.

00:19:39.948 --> 00:19:53.325
But<00:19:40.271> it's<00:19:40.449> a<00:19:40.594> huge,<00:19:41.014> huge—<00:19:41.418> you<00:19:41.498> can<00:19:41.660> imagine,<00:19:42.371> like<00:19:42.694> it's<00:19:43.663> like<00:19:43.840> these<00:19:44.083> labels<00:19:44.470> are<00:19:44.567> like,<00:19:44.971> okay,<00:19:45.682> they're<00:19:45.843> actually<00:19:46.118> even<00:19:46.344> trying<00:19:46.667> to<00:19:46.828> prevent<00:19:48.023> the<00:19:48.443> digital<00:19:48.701> service<00:19:49.071> providers,<00:19:49.571> meaning<00:19:50.119> Apple,<00:19:50.409> Spotify,<00:19:50.763> Amazon,<00:19:51.263> to<00:19:51.585> distribute<00:19:52.101> music<00:19:52.552> produced<00:19:52.874> by<00:19:52.955> machines.

00:19:54.711 --> 00:20:00.088
How<00:19:54.808> do,<00:19:55.355> how<00:19:55.468> do<00:19:55.758> musicians<00:19:56.338> make<00:19:56.580> money<00:19:57.122> in<00:19:57.202> today's<00:19:57.683> world<00:19:58.805> with,<00:19:59.270> uh,<00:19:59.752> music?

00:20:00.153 --> 00:20:04.514
Just<00:20:00.393> so—<00:20:01.532> I<00:20:01.548> mean,<00:20:01.772> we<00:20:01.933> could<00:20:02.157> listen<00:20:02.366> to<00:20:02.478> anything<00:20:02.799> right<00:20:02.895> now<00:20:03.312> and<00:20:03.552> in<00:20:03.697> a<00:20:03.777> second,<00:20:04.258> right?

00:20:04.980 --> 00:20:07.481
And<00:20:05.060> it's<00:20:05.284> relatively<00:20:05.781> cheap,<00:20:06.647> uh,<00:20:07.289> for<00:20:07.385> them.

00:20:07.545 --> 00:20:11.988
It's<00:20:07.770> free<00:20:08.091> if<00:20:08.203> you<00:20:08.283> have—<00:20:08.588> if<00:20:08.748> you<00:20:08.828> don't<00:20:09.133> use<00:20:09.390> the<00:20:09.550> non-ad<00:20:11.298> part<00:20:11.490> of<00:20:11.555> Spotify.

00:20:12.821 --> 00:20:13.447
How<00:20:12.918> do<00:20:12.982> they<00:20:13.078> make<00:20:13.222> money?

00:20:13.495 --> 00:20:19.589
Is<00:20:13.543> it<00:20:13.623> all—<00:20:13.960> I<00:20:14.040> like—<00:20:14.265> I<00:20:14.441> think<00:20:14.553> I<00:20:14.602> understand<00:20:15.083> how<00:20:15.163> like<00:20:15.403> Taylor<00:20:15.644> Swift<00:20:16.045> makes<00:20:16.350> money,<00:20:16.670> or<00:20:16.767> kind<00:20:16.943> of<00:20:17.071> that<00:20:17.312> level,<00:20:18.290> through<00:20:18.450> like<00:20:18.675> concert<00:20:19.012> and<00:20:19.172> stuff<00:20:19.332> like<00:20:19.493> that.

00:20:19.653 --> 00:20:23.101
Is<00:20:19.797> it<00:20:19.958> really—<00:20:20.295> is<00:20:20.439> it<00:20:20.599> just<00:20:20.760> like<00:20:21.000> live<00:20:21.241> music<00:20:21.818> where<00:20:21.914> they<00:20:21.994> make<00:20:22.283> money,<00:20:22.476> or<00:20:22.604> how<00:20:22.700> does<00:20:22.860> it<00:20:22.925> work?

00:20:23.903 --> 00:20:29.994
No,<00:20:24.223> I<00:20:24.239> mean,<00:20:24.864> the<00:20:25.329> actual<00:20:25.987> monetization<00:20:27.750> of<00:20:27.910> music<00:20:28.295> consumption<00:20:28.856> has<00:20:29.048> never<00:20:29.513> been<00:20:29.754> bigger.

00:20:30.812 --> 00:20:31.725
So<00:20:31.276> interesting.

00:20:32.639 --> 00:20:41.055
Yeah,<00:20:33.104> it<00:20:33.264> was,<00:20:33.681> um,<00:20:34.386> it's,<00:20:35.204> it's<00:20:35.524> beyond,<00:20:36.647> you<00:20:36.727> know,<00:20:36.967> the<00:20:37.192> '80s<00:20:37.528> when<00:20:37.689> the<00:20:37.785> CD<00:20:38.250> came<00:20:38.570> out,<00:20:38.811> when<00:20:39.035> the<00:20:39.292> music<00:20:39.596> industry<00:20:40.173> really<00:20:40.494> took<00:20:40.718> off.

00:20:41.840 --> 00:20:55.498
Um,<00:20:42.658> now<00:20:42.882> it's<00:20:43.123> bigger<00:20:44.485> and,<00:20:44.806> uh,<00:20:45.127> you<00:20:45.223> know,<00:20:46.249> monetized<00:20:46.890> on<00:20:46.986> a<00:20:47.066> higher<00:20:47.371> level<00:20:48.573> and<00:20:48.910> even<00:20:49.150> more<00:20:49.375> efficiently<00:20:50.336> and<00:20:50.913> more,<00:20:51.458> more<00:20:52.180> effectively<00:20:53.158> redistributed<00:20:54.119> the<00:20:54.344> actual<00:20:54.664> creators<00:20:55.306> before.

00:20:55.979 --> 00:20:59.458
So<00:20:56.604> it's<00:20:57.069> healthier<00:20:57.566> than<00:20:57.790> it's<00:20:58.111> ever<00:20:58.432> been<00:20:58.608> and<00:20:58.993> growing.

00:21:00.115 --> 00:21:17.524
And<00:21:00.275> now<00:21:00.516> we're<00:21:00.756> kind<00:21:00.916> of<00:21:01.157> moving<00:21:01.494> from,<00:21:02.616> you<00:21:02.712> know,<00:21:03.177> developed<00:21:03.594> economies<00:21:04.283> like<00:21:04.603> the<00:21:04.700> US,<00:21:05.325> Sweden,<00:21:05.982> and<00:21:06.784> Netherlands,<00:21:07.409> Germany,<00:21:07.665> and<00:21:07.842> stuff<00:21:08.066> like<00:21:08.226> that<00:21:08.467> into<00:21:09.493> the<00:21:09.557> next,<00:21:10.695> um,<00:21:11.272> you<00:21:11.352> know,<00:21:11.673> developing<00:21:12.074> economies<00:21:12.619> like<00:21:13.613> India,<00:21:14.238> China,<00:21:15.536> Indonesia,<00:21:16.947> Africa.

00:21:18.165 --> 00:21:24.068
And<00:21:18.310> so<00:21:18.566> it's<00:21:18.807> going<00:21:18.983> to<00:21:19.047> keep<00:21:19.272> on<00:21:19.432> growing<00:21:19.849> and<00:21:20.009> it's<00:21:20.169> going<00:21:20.265> to<00:21:20.330> be—<00:21:20.634> keep<00:21:20.875> on<00:21:21.853> being<00:21:22.832> increasingly<00:21:23.442> monetized.

00:21:25.529 --> 00:21:27.952
But<00:21:25.930> having<00:21:26.171> said<00:21:26.427> that,<00:21:27.053> there's<00:21:27.310> more<00:21:27.615> artists.

00:21:28.113 --> 00:21:36.619
Like,<00:21:28.739> you<00:21:28.851> and<00:21:28.979> I<00:21:29.220> could,<00:21:29.718> could,<00:21:30.279> could<00:21:30.520> basically<00:21:31.066> create<00:21:31.258> a<00:21:31.323> band<00:21:31.644> now,<00:21:31.884> right<00:21:32.125> now,<00:21:32.591> produce<00:21:32.863> a<00:21:32.928> song,<00:21:34.196> upload<00:21:34.613> it,<00:21:34.773> and<00:21:34.854> publish<00:21:35.255> it<00:21:35.335> on<00:21:35.431> Spotify<00:21:35.961> within<00:21:36.105> an<00:21:36.362> hour.

00:21:37.357 --> 00:21:43.103
So<00:21:38.385> there's<00:21:38.706> like<00:21:38.994> 100,000<00:21:40.375> tracks<00:21:40.792> being<00:21:41.514> released<00:21:41.900> every<00:21:42.156> day,<00:21:42.397> I<00:21:42.558> think<00:21:42.718> it<00:21:42.863> is<00:21:42.959> now.

00:21:43.842 --> 00:21:57.379
So<00:21:44.066> it's,<00:21:45.206> it's<00:21:45.431> just<00:21:45.848> like,<00:21:46.570> and<00:21:47.357> The<00:21:47.437> market<00:21:48.802> includes<00:21:50.007> much,<00:21:50.344> much<00:21:50.569> more<00:21:50.746> creators<00:21:51.292> that<00:21:51.372> have<00:21:51.485> to<00:21:51.693> share<00:21:52.191> a<00:21:52.272> bigger<00:21:52.593> pie,<00:21:52.994> but<00:21:53.139> then<00:21:53.380> obviously,<00:21:54.745> um,<00:21:55.709> there's<00:21:55.950> more<00:21:56.287> pieces<00:21:57.090> in<00:21:57.170> that.

00:21:57.460 --> 00:22:04.960
Yeah,<00:21:57.797> hence<00:21:58.680> fewer<00:21:59.178> are—<00:21:59.821> a<00:22:00.383> lower<00:22:00.624> percentage<00:22:01.089> of<00:22:01.186> the<00:22:01.330> artists<00:22:01.668> who<00:22:01.748> make<00:22:02.053> it<00:22:02.149> to<00:22:03.097> being<00:22:03.274> distributed<00:22:03.997> can<00:22:04.093> make<00:22:04.318> a<00:22:04.382> living<00:22:04.623> from<00:22:04.928> it.

00:22:06.149 --> 00:22:09.682
Are<00:22:06.245> name<00:22:06.566> brand<00:22:07.112> record<00:22:07.514> labels<00:22:07.835> still<00:22:08.076> important,<00:22:09.072> or<00:22:09.217> is<00:22:09.361> that<00:22:09.522> because—.

00:22:09.763 --> 00:22:10.277
Oh<00:22:09.843> yeah,<00:22:10.020> they<00:22:10.180> are.

00:22:10.341 --> 00:22:11.192
Yeah,<00:22:10.582> sure,<00:22:10.823> people.

00:22:12.365 --> 00:22:32.157
So<00:22:13.216> Um,<00:22:14.337> there's<00:22:14.578> obviously<00:22:14.978> a<00:22:15.075> trend<00:22:15.876> which<00:22:16.116> is<00:22:16.260> called<00:22:17.222> do-it-yourself,<00:22:19.241> which<00:22:19.722> was<00:22:20.363> kind<00:22:20.539> of<00:22:20.603> the<00:22:20.747> use<00:22:20.924> case<00:22:21.228> I<00:22:21.324> just<00:22:21.549> referred<00:22:21.885> to,<00:22:22.109> where<00:22:22.510> you,<00:22:22.766> you<00:22:22.911> and<00:22:22.991> I<00:22:23.007> can<00:22:23.183> start<00:22:23.423> a<00:22:23.488> band<00:22:23.808> and<00:22:23.888> upload<00:22:24.369> on<00:22:24.465> to<00:22:24.946> some<00:22:25.234> distributor,<00:22:25.891> for<00:22:25.971> example<00:22:26.372> DistroKid,<00:22:27.574> yeah,<00:22:28.039> which<00:22:28.199> is<00:22:28.311> a<00:22:28.359> US-based<00:22:28.936> one,<00:22:29.096> and<00:22:29.176> then<00:22:29.577> that's<00:22:29.898> live<00:22:30.218> on<00:22:30.298> Spotify<00:22:30.843> within,<00:22:31.244> you<00:22:31.340> know,<00:22:31.404> a<00:22:31.420> couple<00:22:31.708> of<00:22:31.804> hours.

00:22:33.102 --> 00:22:43.907
But<00:22:33.567> if<00:22:33.808> you're<00:22:33.968> an<00:22:34.128> artist,<00:22:34.465> you<00:22:34.545> get<00:22:34.689> picked<00:22:34.929> up<00:22:35.025> by<00:22:35.122> a<00:22:35.186> label,<00:22:35.490> you<00:22:35.570> obviously<00:22:35.907> get<00:22:36.131> the<00:22:36.211> whole<00:22:36.612> production<00:22:37.269> machine,<00:22:37.830> marketing<00:22:38.391> machine,<00:22:39.673> touring,<00:22:40.716> everything<00:22:41.181> that<00:22:41.277> comes<00:22:41.581> with<00:22:41.678> kind<00:22:41.854> of<00:22:41.918> becoming<00:22:42.303> a<00:22:42.864> contracted<00:22:43.682> artist.

00:22:44.420 --> 00:22:50.898
So<00:22:44.805> yes,<00:22:45.125> they're<00:22:45.286> playing—<00:22:45.671> they<00:22:45.767> still<00:22:46.007> play<00:22:46.168> a<00:22:46.312> very<00:22:46.456> important<00:22:46.889> role<00:22:47.932> in<00:22:47.996> spotting<00:22:48.493> and<00:22:48.589> developing<00:22:49.295> talent,<00:22:50.337> and<00:22:50.417> they<00:22:50.562> always<00:22:50.802> will.

00:22:52.085 --> 00:23:00.568
Yeah,<00:22:52.342> it<00:22:52.422> seems<00:22:52.646> like<00:22:52.807> if<00:22:52.919> you're,<00:22:53.143> if<00:22:53.304> you're<00:22:53.448> an<00:22:53.528> artist<00:22:53.945> or<00:22:54.009> musician,<00:22:54.410> you<00:22:54.490> got<00:22:54.571> to<00:22:54.603> be<00:22:54.811> really<00:22:55.052> good,<00:22:55.228> and<00:22:55.372> you<00:22:55.469> want<00:22:55.613> to<00:22:55.709> do<00:22:55.789> it<00:22:56.014> by<00:22:56.110> yourself,<00:22:56.655> you<00:22:56.687> got<00:22:56.800> to<00:22:56.832> be<00:22:56.976> really<00:22:57.152> good<00:22:57.297> at<00:22:57.457> all<00:22:57.569> those<00:22:57.858> things<00:22:58.099> you<00:22:58.179> just<00:22:58.355> mentioned<00:22:59.462> and<00:22:59.558> be<00:22:59.718> a<00:22:59.863> great<00:23:00.119> musician.

00:23:00.680 --> 00:23:03.936
Like,<00:23:00.857> you<00:23:00.921> got<00:23:01.001> to<00:23:01.081> be<00:23:01.226> good<00:23:01.338> at<00:23:01.466> the<00:23:01.562> logistics<00:23:02.188> of<00:23:02.284> touring,<00:23:02.765> you<00:23:02.813> got<00:23:02.877> to<00:23:02.925> be<00:23:03.166> good<00:23:03.326> at<00:23:03.471> marketing.

00:23:04.609 --> 00:23:05.459
That<00:23:04.689> seems<00:23:04.930> really<00:23:05.106> difficult.

00:23:06.197 --> 00:23:07.095
Yeah,<00:23:06.373> I<00:23:06.453> know,<00:23:06.534> of<00:23:06.838> course.

00:23:07.239 --> 00:23:13.766
Like,<00:23:07.432> it's—<00:23:08.859> there,<00:23:09.099> there's—<00:23:09.420> it's<00:23:09.821> fun<00:23:10.126> because<00:23:10.463> there's<00:23:10.703> this<00:23:12.066> prosumer<00:23:12.868> market<00:23:13.333> now,<00:23:13.510> right?

00:23:13.830 --> 00:23:18.818
Or<00:23:14.135> if<00:23:14.295> you<00:23:14.392> may,<00:23:14.776> kind<00:23:15.434> of<00:23:15.594> like<00:23:15.771> a<00:23:15.995> consumer<00:23:16.621> creator<00:23:17.022> market,<00:23:17.695> um,<00:23:18.545> right?

00:23:18.882 --> 00:23:21.384
The<00:23:18.962> creator<00:23:19.363> economy,<00:23:20.261> if<00:23:20.469> you,<00:23:20.967> if<00:23:21.111> you<00:23:21.207> may.

00:23:21.672 --> 00:23:37.909
And<00:23:21.849> then<00:23:22.234> obviously<00:23:22.650> then<00:23:22.955> you<00:23:23.196> move<00:23:23.436> up<00:23:23.613> to<00:23:23.757> the<00:23:24.559> NBA<00:23:25.601> and<00:23:25.697> you<00:23:25.778> get<00:23:25.874> a<00:23:26.002> contract<00:23:26.483> with<00:23:26.579> Universal<00:23:27.157> and<00:23:27.301> you're<00:23:27.766> kind<00:23:28.103> of<00:23:29.049> playing,<00:23:30.252> uh,<00:23:30.412> the<00:23:30.508> NBA<00:23:30.829> and<00:23:31.134> you're,<00:23:31.471> and<00:23:31.551> you're<00:23:31.840> and<00:23:32.017> monetizing<00:23:32.677> it<00:23:32.999> on<00:23:33.095> a<00:23:33.160> level,<00:23:34.593> um,<00:23:35.639> on<00:23:35.736> a<00:23:35.752> professional<00:23:37.410> high<00:23:37.652> level.

00:23:39.825 --> 00:23:42.591
What<00:23:39.938> do<00:23:40.244> you,<00:23:40.324> what<00:23:40.405> do<00:23:40.469> you<00:23:40.550> think<00:23:40.727> the<00:23:40.888> future<00:23:41.290> of<00:23:41.435> the<00:23:41.500> music<00:23:41.802> industry<00:23:42.373> is?

00:23:46.432 --> 00:23:49.745
Uh,<00:23:47.386> well,<00:23:48.210> that's<00:23:48.469> a<00:23:48.598> philosophical<00:23:49.325> question.

00:23:50.311 --> 00:24:00.777
So<00:23:51.022> I'll,<00:23:51.992> I<00:23:52.008> mean,<00:23:52.234> obviously<00:23:52.654> I'm,<00:23:53.462> I'm<00:23:53.769> here<00:23:53.947> and<00:23:54.044> I'm<00:23:54.254> loving<00:23:54.497> it,<00:23:54.739> and<00:23:54.852> it's<00:23:55.953> constantly<00:23:56.535> changing<00:23:57.036> and<00:23:57.117> evolving<00:23:57.894> and<00:23:58.852> And<00:23:58.949> it's<00:23:59.111> super<00:23:59.418> challenging,<00:23:59.920> but<00:24:00.081> it's<00:24:00.227> super<00:24:00.486> fun.

00:24:01.537 --> 00:24:12.923
At<00:24:01.683> the<00:24:01.845> end<00:24:02.023> of<00:24:02.103> the<00:24:02.184> day,<00:24:03.058> when<00:24:03.559> I<00:24:03.721> feel<00:24:04.109> like<00:24:04.676> tired<00:24:05.242> and,<00:24:05.743> oof,<00:24:06.229> this<00:24:06.455> is<00:24:07.134> such<00:24:07.377> a<00:24:07.410> dysfunctional<00:24:07.928> industry,<00:24:08.253> I'll<00:24:08.415> just<00:24:08.739> go<00:24:08.966> back<00:24:09.874> to<00:24:10.750> investment<00:24:11.172> banking<00:24:11.577> or<00:24:11.642> management<00:24:12.064> consulting<00:24:12.566> or<00:24:12.631> something.

00:24:16.527 --> 00:24:23.445
I<00:24:16.849> come<00:24:16.962> back<00:24:17.267> to<00:24:17.428> the<00:24:17.573> data<00:24:17.911> point<00:24:18.538> of<00:24:19.841> like<00:24:20.308> 96%<00:24:21.515> of<00:24:21.675> all<00:24:21.852> businesses<00:24:22.335> in<00:24:22.480> the<00:24:22.560> US<00:24:22.898> play<00:24:23.139> music.

00:24:25.195 --> 00:24:29.655
90%<00:24:25.821> of<00:24:26.302> all<00:24:26.478> consumers<00:24:27.457> say<00:24:27.922> that<00:24:28.147> they<00:24:28.484> like<00:24:28.885> or<00:24:29.045> love<00:24:29.366> music.

00:24:30.569 --> 00:24:41.445
So<00:24:31.836> it's<00:24:32.350> such<00:24:33.521> a<00:24:33.761> huge<00:24:34.483> cultural<00:24:35.285> phenomenon<00:24:36.745> in<00:24:36.986> the<00:24:37.018> human<00:24:38.429> race<00:24:39.697> kind<00:24:39.937> of<00:24:40.836> way<00:24:40.996> of<00:24:41.140> living.

00:24:41.862 --> 00:24:44.766
You<00:24:42.215> know,<00:24:42.376> there's<00:24:42.520> kind<00:24:42.664> of<00:24:42.761> nothing<00:24:43.146> like<00:24:43.402> this,<00:24:44.028> right?

00:24:44.926 --> 00:25:02.252
It<00:24:46.049> moves<00:24:46.546> our<00:24:46.627> emotions<00:24:47.557> and<00:24:47.653> it<00:24:47.798> makes<00:24:47.974> us<00:24:48.215> cry<00:24:48.536> and<00:24:48.680> it<00:24:48.776> makes<00:24:49.017> us<00:24:49.241> laugh<00:24:49.578> and<00:24:49.658> it<00:24:49.739> makes<00:24:49.979> us<00:24:50.140> dance<00:24:50.541> and<00:24:50.621> it's<00:24:51.408> always<00:24:51.665> there,<00:24:51.906> and<00:24:52.002> it's,<00:24:52.629> it's<00:24:52.870> just<00:24:53.175> one<00:24:53.336> of<00:24:53.432> those<00:24:53.753> things<00:24:54.075> that<00:24:55.376> it's<00:24:55.665> always<00:24:56.003> going<00:24:56.147> to<00:24:56.244> be<00:24:56.726> around,<00:24:57.208> and<00:24:57.304> it's<00:24:57.513> always<00:24:57.706> going<00:24:57.850> to<00:24:57.995> be<00:24:58.091> an<00:24:58.172> important<00:24:58.637> part<00:24:58.975> in,<00:24:59.842> in,<00:25:00.967> um,<00:25:01.465> human<00:25:01.867> nature.

00:25:02.847 --> 00:25:04.855
So<00:25:04.132> it's<00:25:04.293> going<00:25:04.437> to<00:25:04.517> be<00:25:04.678> there.

00:25:05.080 --> 00:25:05.899
In<00:25:05.240> what<00:25:05.481> form?

00:25:06.927 --> 00:25:07.329
Pass.

00:25:07.715 --> 00:25:09.996
Yeah,<00:25:08.614> it's<00:25:09.642> interesting.

00:25:10.044 --> 00:25:13.546
Like,<00:25:10.205> I<00:25:10.285> can't<00:25:10.462> think<00:25:10.622> of<00:25:10.703> anything<00:25:11.024> that's<00:25:11.201> more<00:25:11.570> culturally<00:25:12.165> significant<00:25:12.952> than<00:25:13.177> music.

00:25:14.221 --> 00:25:19.507
Maybe<00:25:14.575> sports<00:25:15.346> get<00:25:15.522> close,<00:25:16.085> but<00:25:16.165> it<00:25:16.197> still<00:25:16.422> seems<00:25:16.663> like<00:25:16.872> music<00:25:17.306> is<00:25:18.237> um,<00:25:18.494> even<00:25:18.735> bigger<00:25:18.976> than<00:25:19.137> that.

00:25:20.165 --> 00:25:27.669
As<00:25:20.342> an<00:25:20.406> entrepreneur<00:25:20.905> and<00:25:21.001> having<00:25:21.226> done<00:25:21.451> this<00:25:21.612> so<00:25:21.692> many<00:25:21.869> times,<00:25:22.335> what<00:25:22.495> advice<00:25:22.913> would<00:25:23.058> you<00:25:23.218> have<00:25:23.636> to<00:25:23.877> people<00:25:24.102> who<00:25:24.279> are<00:25:24.439> founding<00:25:24.825> companies<00:25:25.950> on<00:25:26.046> what<00:25:26.207> it<00:25:26.368> takes<00:25:26.769> to<00:25:26.914> get<00:25:27.091> to<00:25:27.171> where<00:25:27.316> you<00:25:27.412> are?

00:25:28.296 --> 00:25:32.152
Because<00:25:28.601> it's<00:25:28.778> not<00:25:29.163> easy,<00:25:30.529> and<00:25:30.625> it's,<00:25:30.866> it's<00:25:31.027> very<00:25:31.348> difficult<00:25:31.895> actually.

00:25:32.232 --> 00:25:37.865
But<00:25:32.377> sometimes<00:25:32.778> I<00:25:32.859> think<00:25:33.019> we,<00:25:33.357> we<00:25:33.582> get<00:25:33.774> to<00:25:33.903> like<00:25:34.240> where<00:25:34.465> you<00:25:34.706> are<00:25:34.867> now<00:25:35.365> and<00:25:35.445> be<00:25:35.590> like,<00:25:35.751> yeah,<00:25:36.024> I<00:25:36.072> could<00:25:36.200> do<00:25:36.249> that,<00:25:36.602> just<00:25:36.811> give<00:25:36.940> me<00:25:37.040> a<00:25:37.209> year<00:25:37.276> or<00:25:37.478> something.

00:25:40.140 --> 00:25:51.916
Oh,<00:25:40.253> that's<00:25:40.560> also—<00:25:41.289> I<00:25:41.321> mean,<00:25:41.791> like,<00:25:42.277> the<00:25:42.422> general<00:25:42.843> advice<00:25:43.799> for<00:25:44.236> starting<00:25:44.705> companies,<00:25:45.418> and<00:25:45.677> this<00:25:45.903> is<00:25:46.146> based<00:25:46.551> on<00:25:47.379> my<00:25:47.787> approach,<00:25:48.358> and<00:25:48.603> by<00:25:48.701> no<00:25:48.864> means<00:25:49.256> is<00:25:49.403> that<00:25:49.647> the<00:25:49.811> right<00:25:50.007> approach<00:25:50.562> or<00:25:50.970> the<00:25:51.051> only<00:25:51.443> approach.

00:25:53.660 --> 00:26:07.835
For<00:25:53.871> me,<00:25:54.356> it<00:25:54.923> was<00:25:55.165> all<00:25:55.279> about<00:25:55.732> finding<00:25:57.528> this<00:25:58.095> market<00:25:58.807> opportunity<00:26:00.523> that<00:26:00.943> appealed<00:26:01.348> to<00:26:01.511> me<00:26:02.633> both<00:26:03.040> in<00:26:03.121> my<00:26:03.430> heart<00:26:04.585> and<00:26:05.073> in<00:26:05.236> my<00:26:05.480> brains<00:26:06.863> and<00:26:07.172> in<00:26:07.269> my<00:26:07.400> stomach.

00:26:09.852 --> 00:26:14.870
Meaning,<00:26:10.885> okay,<00:26:11.691> I<00:26:12.030> did<00:26:12.191> a<00:26:12.272> very<00:26:12.659> rational<00:26:13.063> analysis<00:26:13.805> of<00:26:13.950> the<00:26:14.208> music<00:26:14.547> industry.

00:26:14.934 --> 00:26:25.815
It's<00:26:15.079> like,<00:26:15.241> okay,<00:26:15.580> there's<00:26:16.290> massive<00:26:16.741> disruption<00:26:18.920> going<00:26:19.192> to<00:26:19.336> happen<00:26:19.657> in<00:26:19.753> this<00:26:19.994> industry,<00:26:20.459> which<00:26:20.699> will<00:26:20.860> provide<00:26:21.998> multiple<00:26:22.784> opportunities<00:26:23.522> to<00:26:23.666> build<00:26:24.243> business<00:26:24.949> and<00:26:25.125> technology.

00:26:26.649 --> 00:26:43.566
So<00:26:26.873> that<00:26:27.114> analysis<00:26:27.771> I<00:26:27.932> did,<00:26:28.413> combining<00:26:28.958> it<00:26:29.118> with<00:26:29.920> a<00:26:30.016> personal<00:26:30.642> drive<00:26:31.139> to<00:26:32.325> be<00:26:32.502> privileged<00:26:33.287> enough<00:26:34.570> to<00:26:34.731> choose<00:26:35.228> to<00:26:35.372> work<00:26:36.511> in<00:26:36.655> an<00:26:36.751> industry<00:26:37.553> and<00:26:37.713> be<00:26:37.954> able—<00:26:38.515> and<00:26:38.836> being<00:26:39.221> able<00:26:39.622> to<00:26:39.718> build<00:26:39.942> a<00:26:40.022> company<00:26:40.359> in<00:26:40.504> an<00:26:40.584> industry<00:26:41.145> that<00:26:41.466> where<00:26:41.562> I<00:26:41.802> love<00:26:42.043> the<00:26:42.203> actual<00:26:42.604> product,<00:26:43.246> music.

00:26:44.368 --> 00:26:48.887
So<00:26:44.529> that<00:26:44.929> gives<00:26:45.234> you<00:26:46.458> a<00:26:46.701> pretty<00:26:47.009> strong<00:26:47.527> starting<00:26:48.158> point,<00:26:48.628> right?

00:26:49.049 --> 00:27:01.677
And<00:26:49.372> yeah,<00:26:49.696> the<00:26:49.842> prerequisites<00:26:51.137> of,<00:26:52.351> uh,<00:26:53.322> maybe<00:26:53.565> staying<00:26:53.970> up<00:26:54.148> another<00:26:54.537> hour<00:26:55.362> or<00:26:56.431> surviving<00:26:57.143> another<00:26:58.520> failure,<00:26:59.313> which<00:26:59.961> is<00:27:00.706> more<00:27:00.787> or<00:27:00.932> less<00:27:01.110> every<00:27:01.434> day.

00:27:03.881 --> 00:27:06.194
You,<00:27:04.366> you<00:27:04.674> wrestle<00:27:05.029> your<00:27:05.175> way<00:27:05.417> through<00:27:05.725> failures.

00:27:06.291 --> 00:27:09.153
That's<00:27:06.776> basically<00:27:07.261> what<00:27:07.423> you<00:27:07.520> do,<00:27:08.490> and<00:27:08.571> challenges.

00:27:10.010 --> 00:27:16.915
And,<00:27:10.657> um,<00:27:11.174> so,<00:27:11.482> so<00:27:11.659> that's<00:27:12.112> the<00:27:12.274> first<00:27:12.458> kind<00:27:12.729> of<00:27:14.864> reflection/recommendation.

00:27:17.188 --> 00:27:23.998
Like,<00:27:17.989> if<00:27:18.133> you,<00:27:18.406> if<00:27:18.534> you're<00:27:18.710> able<00:27:19.030> to<00:27:19.175> find<00:27:19.447> that,<00:27:20.216> that<00:27:20.377> I<00:27:20.457> was<00:27:20.633> lucky<00:27:20.937> enough<00:27:21.194> to<00:27:21.418> find,<00:27:22.155> then<00:27:22.396> you've<00:27:22.716> created<00:27:23.213> a<00:27:23.357> platform.

00:27:24.799 --> 00:27:34.398
And<00:27:24.943> then<00:27:25.264> on<00:27:25.344> top<00:27:25.584> of<00:27:25.664> that,<00:27:25.841> I<00:27:25.985> obviously<00:27:26.402> had<00:27:26.578> a,<00:27:26.946> I<00:27:27.027> had<00:27:27.187> a<00:27:27.283> thesis,<00:27:29.110> and<00:27:29.671> that<00:27:29.927> thesis<00:27:30.408> is<00:27:30.632> still<00:27:31.609> the<00:27:31.770> thesis<00:27:32.234> that<00:27:32.635> I'm<00:27:33.612> holding<00:27:34.013> on<00:27:34.253> to.

00:27:34.494 --> 00:27:43.709
And<00:27:34.574> that<00:27:34.798> is,<00:27:35.616> once<00:27:35.872> again,<00:27:36.497> in,<00:27:36.897> in<00:27:36.978> a<00:27:37.042> market<00:27:37.458> of<00:27:37.554> abundance,<00:27:38.484> all<00:27:38.564> the<00:27:38.596> music<00:27:38.981> in<00:27:39.061> the<00:27:39.141> world<00:27:39.977> available<00:27:41.027> anywhere,<00:27:41.932> anytime,<00:27:42.901> at<00:27:43.063> your<00:27:43.144> fingertips.

00:27:44.420 --> 00:27:50.093
Companies<00:27:44.840> that<00:27:45.066> can<00:27:45.228> help<00:27:46.617> deliver<00:27:46.956> the<00:27:47.085> right<00:27:47.328> music<00:27:47.586> at<00:27:47.667> the<00:27:47.732> right<00:27:47.974> place<00:27:48.216> at<00:27:48.297> the<00:27:48.378> right<00:27:48.556> time<00:27:48.879> will<00:27:49.024> be<00:27:49.170> very<00:27:49.429> valuable<00:27:49.914> assets.

00:27:51.161 --> 00:28:15.431
So<00:27:51.696> I've<00:27:52.360> done<00:27:53.008> reiterated<00:27:53.736> businesses<00:27:54.530> from<00:27:54.708> different<00:27:55.178> angles<00:27:55.518> and<00:27:55.680> in<00:27:55.842> different,<00:27:56.716> like,<00:27:56.975> kind<00:27:57.218> of<00:27:57.510> forms<00:27:58.189> and,<00:27:59.306> um,<00:28:00.277> business<00:28:00.616> models<00:28:02.073> around<00:28:02.380> that<00:28:02.494> thesis,<00:28:04.484> uh,<00:28:04.888> based<00:28:05.147> on<00:28:05.228> that<00:28:05.471> macro<00:28:06.183> of<00:28:06.873> the<00:28:07.178> transformation<00:28:07.820> of<00:28:07.852> the<00:28:07.917> music<00:28:08.238> industry,<00:28:10.149> uh,<00:28:10.486> both<00:28:10.791> in<00:28:11.208> touching<00:28:11.546> upon<00:28:12.091> production,<00:28:12.814> touching<00:28:13.135> upon<00:28:13.376> distribution,<00:28:14.115> touching<00:28:14.500> upon<00:28:14.821> consumption.

00:28:16.571 --> 00:28:18.081
So,<00:28:16.844> so<00:28:16.989> that<00:28:17.213> was<00:28:17.374> my<00:28:17.631> approach.

00:28:18.819 --> 00:28:38.317
And<00:28:19.221> then<00:28:19.461> obviously<00:28:19.959> just<00:28:20.345> drilling<00:28:20.826> down<00:28:21.244> and<00:28:21.388> understanding<00:28:22.111> the<00:28:22.191> complexity<00:28:23.010> of<00:28:23.154> all<00:28:23.732> parts<00:28:24.054> of<00:28:24.134> that,<00:28:24.680> uh,<00:28:26.061> that<00:28:26.221> business,<00:28:26.623> which<00:28:26.847> is<00:28:27.185> a<00:28:27.329> very<00:28:27.570> complex<00:28:28.068> business<00:28:28.389> because<00:28:28.630> it's<00:28:29.593> both<00:28:29.914> an<00:28:30.139> IP-driven<00:28:31.440> business<00:28:33.508> in<00:28:33.765> conjunction<00:28:34.566> to<00:28:34.887> a<00:28:34.903> massive<00:28:35.913> technology<00:28:37.131> transformation,<00:28:38.012> right?

00:28:38.830 --> 00:28:59.362
So<00:28:39.936> understanding<00:28:40.817> technology<00:28:42.019> in<00:28:42.084> combination<00:28:42.981> with<00:28:43.286> IP<00:28:44.424> and<00:28:44.568> then<00:28:44.985> connecting<00:28:45.466> that<00:28:45.786> to<00:28:45.946> building<00:28:46.347> product<00:28:46.892> recruiting<00:28:47.453> team<00:28:47.950> and<00:28:49.152> solving<00:28:49.537> problems<00:28:49.954> within<00:28:50.354> an<00:28:50.499> industry<00:28:51.060> was<00:28:51.540> obviously<00:28:52.198> what<00:28:52.422> I<00:28:52.678> learned<00:28:53.159> how<00:28:53.320> to<00:28:53.624> do<00:28:54.121> and<00:28:54.666> failed<00:28:55.868> and<00:28:56.125> was<00:28:56.285> somewhat<00:28:56.670> successful<00:28:57.327> and<00:28:57.551> failed<00:28:57.984> and<00:28:58.208> was<00:28:58.304> somewhat<00:28:58.625> successful.

00:29:00.940 --> 00:29:02.006
But<00:29:01.327> on<00:29:01.360> the<00:29:01.424> same<00:29:01.666> thesis.

00:29:02.070 --> 00:29:15.493
So,<00:29:02.393> so<00:29:02.538> that<00:29:02.700> was<00:29:02.894> my,<00:29:05.041> that<00:29:05.154> was<00:29:05.380> my<00:29:05.542> approach,<00:29:06.430> and<00:29:06.511> that's<00:29:06.914> probably<00:29:07.221> what<00:29:07.318> I'm<00:29:07.382> going<00:29:07.544> to<00:29:07.641> do<00:29:07.867> until<00:29:08.771> I<00:29:08.836> retire,<00:29:10.151> because<00:29:10.947> I<00:29:11.028> can't<00:29:11.207> think<00:29:11.385> of<00:29:11.515> anything<00:29:11.856> more<00:29:12.018> fun<00:29:12.262> than,<00:29:12.733> you<00:29:12.765> know,<00:29:12.976> being<00:29:13.269> able<00:29:13.431> to<00:29:13.496> work,<00:29:13.967> wake<00:29:14.194> up<00:29:14.292> in<00:29:14.357> the<00:29:14.389> morning,<00:29:14.681> work<00:29:14.925> in<00:29:14.958> this<00:29:15.169> industry.

00:29:16.462 --> 00:29:19.644
Uh,<00:29:17.367> so<00:29:17.593> that,<00:29:18.077> that's<00:29:18.320> what<00:29:18.465> kept<00:29:18.659> me<00:29:19.370> rolling.

00:29:19.693 --> 00:29:29.159
Then<00:29:19.919> obviously<00:29:20.339> I've<00:29:20.743> developed<00:29:21.292> some<00:29:21.454> skills<00:29:21.938> along<00:29:22.262> the<00:29:22.358> way<00:29:23.085> with,<00:29:23.489> uh,<00:29:24.136> understanding<00:29:24.927> how<00:29:25.024> to<00:29:25.186> build<00:29:25.428> team<00:29:27.145> How<00:29:27.241> to<00:29:27.419> prioritize<00:29:28.772> and<00:29:28.853> so<00:29:29.062> forth.

00:29:29.546 --> 00:29:43.658
I<00:29:29.626> wanted<00:29:29.803> to<00:29:29.868> ask<00:29:30.045> you<00:29:30.110> about<00:29:30.367> that,<00:29:30.690> about,<00:29:31.237> uh,<00:29:31.737> what<00:29:31.963> you've<00:29:32.140> learned<00:29:32.462> about<00:29:32.784> leadership,<00:29:33.493> because<00:29:33.671> they're<00:29:33.832> starting<00:29:34.219> the<00:29:34.299> company<00:29:34.541> in<00:29:34.638> the<00:29:34.734> early<00:29:35.040> days<00:29:35.604> and,<00:29:36.233> you<00:29:36.265> know,<00:29:36.394> you're<00:29:36.491> kind<00:29:36.620> of<00:29:36.668> in<00:29:36.797> the<00:29:36.893> basement<00:29:37.280> and<00:29:37.360> you're<00:29:37.457> kind<00:29:37.618> of<00:29:37.763> all<00:29:37.876> in<00:29:37.940> a<00:29:38.005> foxhole,<00:29:38.987> and<00:29:39.068> then<00:29:39.213> as<00:29:39.309> it<00:29:39.454> grows,<00:29:40.115> the<00:29:40.260> leadership<00:29:40.904> that,<00:29:41.162> that<00:29:41.484> you<00:29:42.193> provide<00:29:42.772> changes,<00:29:43.401> right?

00:29:45.640 --> 00:29:48.409
Yeah,<00:29:45.897> right,<00:29:46.622> of<00:29:46.783> course,<00:29:47.121> hopefully<00:29:47.910> to<00:29:48.007> the<00:29:48.087> better.

00:29:48.957 --> 00:30:00.464
Um,<00:29:50.808> I<00:29:50.825> mean,<00:29:50.986> of<00:29:51.066> course<00:29:51.388> I've<00:29:51.549> become<00:29:53.851> Hopefully<00:29:54.271> I<00:29:54.287> become<00:29:54.659> a<00:29:54.756> better<00:29:56.697> manager<00:29:57.586> and<00:29:57.764> CEO<00:29:59.025> over<00:29:59.543> the<00:29:59.785> iterations.

00:30:00.901 --> 00:30:09.035
I've<00:30:01.046> always<00:30:01.305> built<00:30:01.548> companies<00:30:01.968> even<00:30:02.275> before<00:30:03.407> in<00:30:03.488> the<00:30:03.569> music<00:30:03.892> industry,<00:30:04.297> so<00:30:04.523> I've<00:30:04.620> always<00:30:04.944> kind<00:30:05.105> of<00:30:06.302> built<00:30:06.739> stuff<00:30:07.192> myself<00:30:07.838> and<00:30:08.324> led<00:30:08.566> people.

00:30:10.896 --> 00:30:29.730
And<00:30:12.383> so<00:30:13.158> I<00:30:13.255> have<00:30:13.498> a<00:30:13.578> couple<00:30:13.837> of<00:30:13.983> principles<00:30:15.098> as<00:30:15.437> an<00:30:15.599> individual<00:30:16.326> around<00:30:16.649> leadership<00:30:17.296> that<00:30:17.457> I've<00:30:17.619> tried<00:30:18.007> to<00:30:18.088> apply<00:30:18.362> it<00:30:18.572> in<00:30:19.411> apply<00:30:19.982> and<00:30:20.390> improve<00:30:20.960> over<00:30:21.205> time,<00:30:23.890> which,<00:30:24.390> you<00:30:24.486> know,<00:30:25.116> I<00:30:26.180> think<00:30:27.778> I've<00:30:28.116> proven<00:30:28.907> work<00:30:29.181> somewhat.

00:30:29.875 --> 00:30:39.985
And<00:30:30.536> yeah,<00:30:31.585> they're<00:30:31.746> very<00:30:31.972> simple<00:30:32.472> and<00:30:32.569> there's<00:30:32.795> nothing,<00:30:33.182> you<00:30:33.570> know,<00:30:33.748> magic<00:30:34.187> about<00:30:34.577> it,<00:30:34.723> but<00:30:34.885> it's<00:30:35.226> the<00:30:35.389> classical<00:30:38.864> full<00:30:39.189> transparency.

00:30:40.343 --> 00:30:44.644
I<00:30:40.359> mean,<00:30:41.220> absolutely<00:30:41.658> no<00:30:41.952> compromise<00:30:42.474> transparency<00:30:43.192> with,<00:30:43.665> with<00:30:43.763> the<00:30:43.910> team<00:30:44.106> I'm<00:30:44.253> working<00:30:44.563> with.

00:30:46.237 --> 00:30:48.469
Meaning<00:30:46.558> that<00:30:46.702> I<00:30:46.799> don't<00:30:47.104> have<00:30:47.602> like<00:30:47.859> secrets.

00:30:48.646 --> 00:30:53.994
I<00:30:48.887> tell<00:30:49.127> them<00:30:49.449> good<00:30:49.674> and<00:30:49.770> bad,<00:30:50.412> bad<00:30:50.669> news<00:30:51.119> all<00:30:51.199> the<00:30:51.296> time<00:30:51.777> with<00:30:51.922> high<00:30:52.099> frequency,<00:30:52.741> communicate<00:30:53.367> proactively.

00:30:55.214 --> 00:31:02.778
That's<00:30:55.455> one<00:30:55.632> thing<00:30:55.953> that<00:30:56.419> I,<00:30:56.981> I<00:30:57.334> think<00:30:57.559> works,<00:30:57.864> and<00:30:57.944> that<00:30:58.105> obviously<00:30:58.587> filters<00:30:59.004> the<00:30:59.085> people<00:30:59.406> around<00:30:59.791> me<00:30:59.872> who<00:30:59.968> can<00:31:00.129> deal<00:31:00.305> with<00:31:00.450> that,<00:31:01.076> like<00:31:01.317> hearing<00:31:01.654> bad<00:31:01.895> stuff<00:31:02.361> all<00:31:02.441> the<00:31:02.537> time.

00:31:03.646 --> 00:31:11.547
Um,<00:31:04.224> but<00:31:04.529> it—<00:31:04.866> some<00:31:05.107> people<00:31:05.509> thrive<00:31:05.830> in<00:31:05.910> that<00:31:06.231> environment<00:31:06.954> and<00:31:07.115> they<00:31:07.259> kind<00:31:07.452> of<00:31:08.094> are<00:31:08.223> up<00:31:08.480> for<00:31:08.640> the<00:31:08.961> challenge,<00:31:09.379> and<00:31:09.540> it<00:31:10.230> creates<00:31:10.471> a<00:31:10.503> very<00:31:10.728> productive<00:31:11.130> environment.

00:31:12.398 --> 00:31:17.104
Uh,<00:31:12.720> the<00:31:12.816> other<00:31:12.977> one<00:31:13.201> is<00:31:13.362> obviously<00:31:14.101> the<00:31:14.326> cliché:<00:31:15.145> recruit<00:31:15.466> people<00:31:15.771> that<00:31:15.948> are<00:31:15.980> much<00:31:16.269> better<00:31:16.574> than<00:31:16.751> yourself.

00:31:17.249 --> 00:31:19.048
And,<00:31:17.715> and<00:31:18.116> that<00:31:18.357> I've<00:31:18.502> really<00:31:18.839> tried.

00:31:19.481 --> 00:31:24.878
Like,<00:31:19.963> I<00:31:19.979> mean,<00:31:20.268> you<00:31:20.381> can't<00:31:20.911> be<00:31:21.248> better<00:31:21.634> than<00:31:22.533> my<00:31:22.710> CFO<00:31:24.139> in<00:31:24.364> finance.

00:31:25.022 --> 00:31:27.448
I<00:31:25.103> can't<00:31:25.424> be<00:31:25.585> better<00:31:25.906> than<00:31:26.050> my<00:31:26.147> chief<00:31:26.388> product<00:31:26.853> officer<00:31:27.046> and<00:31:27.255> product.

00:31:27.512 --> 00:31:32.411
Like,<00:31:27.753> there's<00:31:27.994> always—<00:31:28.893> I'm<00:31:29.054> always<00:31:29.375> going<00:31:29.584> to<00:31:29.616> be<00:31:29.841> the<00:31:30.001> generalist<00:31:31.110> in<00:31:31.206> a<00:31:31.286> group<00:31:31.511> of<00:31:31.624> specialists.

00:31:33.198 --> 00:31:57.161
And,<00:31:33.680> and<00:31:34.001> that's<00:31:34.402> also,<00:31:36.330> uh,<00:31:36.811> not<00:31:37.133> trying<00:31:37.470> to<00:31:37.550> be<00:31:37.711> better<00:31:38.032> than<00:31:38.193> them,<00:31:38.418> just<00:31:38.691> embracing<00:31:39.301> the<00:31:39.478> fact<00:31:39.783> that<00:31:39.943> you<00:31:40.120> have<00:31:41.387> great<00:31:41.724> specialists<00:31:42.365> around<00:31:42.686> you<00:31:42.830> and<00:31:42.910> trying<00:31:43.247> to<00:31:44.529> keep<00:31:44.769> those,<00:31:45.475> um,<00:31:46.709> specialty<00:31:47.334> skills<00:31:49.001> in<00:31:49.162> a<00:31:49.194> structure<00:31:50.524> and<00:31:50.701> with<00:31:50.861> the<00:31:51.021> right<00:31:51.262> prerequisites<00:31:52.368> and,<00:31:53.329> uh,<00:31:53.666> with<00:31:53.730> the<00:31:53.890> right<00:31:54.067> resources<00:31:54.708> and<00:31:54.852> the<00:31:54.932> right<00:31:55.109> sequencing<00:31:55.766> around<00:31:56.071> the<00:31:56.215> right<00:31:56.391> strategy,<00:31:56.952> right?

00:31:57.738 --> 00:31:59.357
So<00:31:57.834> that's<00:31:58.219> what<00:31:58.379> leadership<00:31:58.876> is<00:31:59.036> to<00:31:59.132> me.

00:31:59.517 --> 00:32:15.483
And<00:31:59.661> then<00:32:00.222> one<00:32:00.479> thing<00:32:00.799> that<00:32:00.944> I<00:32:01.024> really<00:32:01.280> want<00:32:01.521> to<00:32:01.825> underline<00:32:02.242> that<00:32:02.386> I've<00:32:02.482> become<00:32:03.027> better<00:32:04.566> through<00:32:04.727> the<00:32:04.807> years,<00:32:05.111> that's,<00:32:06.314> uh,<00:32:06.955> on<00:32:07.468> you<00:32:07.548> know,<00:32:07.997> ruthless<00:32:09.039> focus,<00:32:09.840> basically,<00:32:10.722> um,<00:32:11.603> absolute<00:32:12.501> laser<00:32:12.902> focus,<00:32:14.168> no<00:32:14.649> compromise.

00:32:15.611 --> 00:32:19.682
From<00:32:16.268> if<00:32:16.573> you<00:32:16.813> found<00:32:17.230> an<00:32:17.390> idea,<00:32:18.031> execute<00:32:18.576> on<00:32:18.673> that,<00:32:19.009> nothing<00:32:19.458> else.

00:32:20.436 --> 00:32:38.931
It's<00:32:20.997> the<00:32:21.478> biggest<00:32:21.798> mistake<00:32:22.279> in<00:32:22.359> startups<00:32:23.001> and<00:32:23.081> high-velocity<00:32:24.684> kind<00:32:24.908> of,<00:32:25.886> uh,<00:32:26.832> company<00:32:27.168> building<00:32:27.713> is<00:32:28.531> you're<00:32:28.755> doing<00:32:29.012> too<00:32:29.172> many<00:32:29.413> things<00:32:29.733> at<00:32:29.813> the<00:32:29.894> same<00:32:30.134> time,<00:32:30.519> and<00:32:30.615> you're—<00:32:31.336> you<00:32:31.496> build<00:32:31.753> a<00:32:31.801> brand<00:32:32.122> and<00:32:32.170> people<00:32:32.410> become<00:32:32.683> interested<00:32:33.099> in—<00:32:33.180> they<00:32:33.276> come<00:32:33.661> to<00:32:33.805> you<00:32:33.901> with<00:32:34.190> great<00:32:34.382> opportunities,<00:32:35.009> you<00:32:35.106> try<00:32:35.266> to<00:32:35.363> do<00:32:36.215> a<00:32:36.311> bunch<00:32:36.568> of<00:32:36.633> stuff<00:32:37.420> on<00:32:37.678> kind<00:32:37.854> of<00:32:38.063> reactive<00:32:38.562> basis.

00:32:39.381 --> 00:32:47.634
If<00:32:39.510> you<00:32:39.606> find<00:32:40.024> a<00:32:40.153> business<00:32:40.555> idea<00:32:40.876> that<00:32:41.117> works,<00:32:41.921> every<00:32:42.259> hour<00:32:43.702> from<00:32:44.028> any—<00:32:45.089> all<00:32:45.187> the<00:32:45.268> people<00:32:45.529> in<00:32:45.660> your<00:32:45.839> team<00:32:46.068> need<00:32:46.166> to<00:32:46.247> go<00:32:46.410> into<00:32:46.655> that<00:32:47.128> and<00:32:47.226> nothing<00:32:47.520> else.

00:32:50.265 --> 00:32:51.651
That's<00:32:50.748> actually<00:32:50.990> really<00:32:51.296> interesting.

00:32:51.699 --> 00:32:52.892
That's<00:32:51.812> an<00:32:51.941> interesting<00:32:52.279> way<00:32:52.312> to<00:32:52.505> look<00:32:52.682> at<00:32:52.779> it.

00:32:53.875 --> 00:32:57.534
Finally,<00:32:54.455> I<00:32:54.697> could<00:32:54.778> talk<00:32:54.939> to<00:32:55.003> you<00:32:55.100> forever,<00:32:55.503> but<00:32:56.389> I<00:32:56.470> gotta<00:32:56.712> respect<00:32:57.099> your<00:32:57.179> time.

00:32:59.732 --> 00:33:09.877
We<00:32:59.894> ask<00:33:00.072> everybody<00:33:00.395> this,<00:33:00.638> this<00:33:00.735> is<00:33:00.881> the<00:33:00.961> last<00:33:01.188> question<00:33:01.447> I<00:33:01.528> ask<00:33:01.770> everybody,<00:33:02.256> which<00:33:02.498> is,<00:33:03.578> You<00:33:03.674> know,<00:33:03.835> we<00:33:03.996> believe<00:33:04.317> that<00:33:04.478> chances<00:33:05.426> are<00:33:05.522> just<00:33:05.651> as<00:33:05.844> important<00:33:06.213> when<00:33:06.326> we<00:33:06.487> give<00:33:06.728> them<00:33:06.969> as<00:33:07.113> when<00:33:07.210> we<00:33:07.354> take<00:33:07.611> them<00:33:09.138> at<00:33:09.219> CEO.com.

00:33:09.942 --> 00:33:17.690
And<00:33:10.022> I<00:33:10.167> wonder<00:33:10.279> if<00:33:10.424> there's<00:33:10.568> anyone<00:33:10.890> in<00:33:10.986> your<00:33:11.292> life<00:33:11.710> or<00:33:11.854> in<00:33:11.951> your<00:33:12.160> career<00:33:13.308> who<00:33:13.389> has<00:33:13.631> given<00:33:13.971> you<00:33:14.149> a<00:33:14.278> chance<00:33:15.006> that<00:33:15.491> has<00:33:16.154> kind<00:33:16.332> of<00:33:16.461> led<00:33:16.639> you<00:33:16.720> to<00:33:16.865> where<00:33:17.027> you<00:33:17.205> are<00:33:17.367> today.

00:33:20.045 --> 00:33:20.838
Oh,<00:33:20.223> many<00:33:20.465> times.

00:33:21.274 --> 00:33:21.970
Many<00:33:21.582> times.

00:33:23.200 --> 00:33:30.849
I'm<00:33:23.523> raised<00:33:24.171> by<00:33:24.349> the<00:33:24.575> principle<00:33:25.546> of<00:33:26.679> trying<00:33:27.099> to<00:33:27.261> give<00:33:27.730> at<00:33:27.908> least<00:33:28.315> 2<00:33:28.545> times<00:33:29.138> as<00:33:29.302> much<00:33:29.631> back<00:33:29.960> as<00:33:30.108> you<00:33:30.273> ever<00:33:30.438> receive.

00:33:32.916 --> 00:33:38.965
But<00:33:33.093> it's<00:33:33.301> always<00:33:33.702> the<00:33:33.799> people<00:33:34.424> that<00:33:34.601> give<00:33:34.826> you<00:33:34.906> something<00:33:35.323> at<00:33:35.419> some<00:33:35.708> time<00:33:35.965> that<00:33:36.045> becomes<00:33:37.072> the<00:33:37.152> sliding<00:33:37.794> doors<00:33:38.147> of<00:33:38.275> your<00:33:38.452> life,<00:33:38.773> right?

00:33:39.094 --> 00:33:40.457
Or<00:33:39.254> that<00:33:39.976> unlocks<00:33:40.393> it.

00:33:41.179 --> 00:33:46.314
So<00:33:41.404> I<00:33:41.420> have<00:33:41.581> so<00:33:41.821> many<00:33:42.046> people<00:33:42.463> that<00:33:42.608> have<00:33:42.704> given<00:33:42.944> me<00:33:43.105> chances<00:33:43.666> through<00:33:43.827> the<00:33:43.971> years<00:33:44.469> and<00:33:45.271> friends<00:33:45.592> around<00:33:45.977> the<00:33:46.073> world.

00:33:46.394 --> 00:33:54.000
And<00:33:46.474> I<00:33:47.983> really<00:33:49.459> think<00:33:50.791> that<00:33:50.951> I<00:33:51.128> am<00:33:51.384> a<00:33:51.593> good<00:33:51.850> friend,<00:33:53.117> even<00:33:53.454> in<00:33:53.615> business.

00:33:54.962 --> 00:34:02.855
In<00:33:54.994> a<00:33:55.059> business,<00:33:55.540> it's<00:33:55.700> not<00:33:55.941> that<00:33:56.086> I'm<00:33:56.262> naive<00:33:57.482> and<00:33:57.883> over-romantic<00:33:59.150> about<00:33:59.872> kind<00:34:00.097> of,<00:34:00.353> you<00:34:00.433> know,<00:34:01.957> business<00:34:02.262> relationships.

00:34:02.935 --> 00:34:08.613
It's<00:34:03.144> business,<00:34:03.561> of<00:34:03.705> course,<00:34:04.202> but<00:34:04.924> really<00:34:05.309> respecting<00:34:05.806> people<00:34:06.351> and<00:34:06.447> trying<00:34:06.752> to<00:34:06.848> give<00:34:07.025> as<00:34:07.169> much<00:34:07.410> back<00:34:07.650> as<00:34:07.795> possible<00:34:08.372> and<00:34:08.452> all.

00:34:08.693 --> 00:34:13.408
And<00:34:08.773> of<00:34:08.933> course<00:34:09.334> you're<00:34:09.479> going<00:34:09.575> to<00:34:09.639> get<00:34:09.815> stuff<00:34:10.216> back,<00:34:10.601> and<00:34:10.697> that's<00:34:10.922> not<00:34:11.098> really<00:34:11.339> to<00:34:11.419> me,<00:34:11.579> but<00:34:11.676> it<00:34:11.820> comes<00:34:12.141> to<00:34:12.285> you<00:34:12.461> when<00:34:12.606> you<00:34:12.702> meet<00:34:12.862> those<00:34:13.167> people.

00:34:14.065 --> 00:34:29.757
So<00:34:14.707> many<00:34:15.108> people<00:34:15.412> in<00:34:15.573> my<00:34:15.749> life<00:34:16.054> have<00:34:16.551> been<00:34:17.577> extremely<00:34:18.171> important<00:34:18.475> for<00:34:18.636> me,<00:34:19.422> uh,<00:34:19.662> that<00:34:19.775> have—<00:34:20.801> there's<00:34:21.346> one<00:34:21.507> of<00:34:21.539> my<00:34:21.683> best<00:34:21.908> friends,<00:34:22.324> Jonas,<00:34:23.271> uh,<00:34:24.073> who<00:34:24.810> kind<00:34:25.051> of<00:34:25.773> took<00:34:26.078> me<00:34:26.175> into<00:34:26.416> the<00:34:26.512> music<00:34:26.914> industry<00:34:27.460> by<00:34:27.861> opening<00:34:28.183> my<00:34:28.424> eyes<00:34:28.825> to<00:34:28.970> the<00:34:29.050> opportunity.

00:34:30.351 --> 00:34:37.708
He<00:34:30.496> was<00:34:31.058> one<00:34:31.219> of<00:34:31.395> kind<00:34:31.556> of<00:34:31.700> the<00:34:31.733> main<00:34:32.102> creators<00:34:32.520> at<00:34:32.664> Universal<00:34:33.146> Publishing<00:34:33.789> and<00:34:34.367> is<00:34:34.463> the<00:34:34.544> guy<00:34:34.768> behind<00:34:35.154> the<00:34:35.636> Swedish<00:34:35.973> House<00:34:36.278> Mafia<00:34:36.680> and<00:34:37.242> things<00:34:37.419> like<00:34:37.579> that.

00:34:37.756 --> 00:34:40.647
He<00:34:37.885> just<00:34:38.126> like,<00:34:38.688> you<00:34:38.784> can<00:34:39.009> also<00:34:39.346> apply<00:34:39.748> a<00:34:39.828> business<00:34:40.214> mindset.

00:34:40.696 --> 00:34:49.627
And<00:34:40.808> another<00:34:42.061> buddy<00:34:42.302> who's<00:34:42.479> also<00:34:42.784> called<00:34:43.025> Jonas<00:34:43.426> Temple,<00:34:43.908> for<00:34:44.005> example,<00:34:44.470> he<00:34:44.535> was<00:34:44.631> the<00:34:44.727> founder<00:34:45.049> of<00:34:45.129> Beatport,<00:34:45.675> which<00:34:45.932> was<00:34:46.575> US-based<00:34:47.699> first<00:34:47.940> kind<00:34:48.117> of<00:34:48.502> DJ<00:34:48.904> download<00:34:49.370> store.

00:34:49.771 --> 00:34:52.470
And<00:34:50.173> he's,<00:34:50.574> he's<00:34:50.912> been<00:34:51.377> with<00:34:51.538> me<00:34:51.634> in<00:34:51.715> multiple<00:34:52.116> startups.

00:34:52.518 --> 00:34:59.674
He's<00:34:52.695> always<00:34:53.144> been<00:34:54.473> by<00:34:54.570> nature<00:34:55.117> extremely<00:34:56.083> generous<00:34:56.631> person,<00:34:56.969> just<00:34:57.355> giving<00:34:58.112> advice<00:34:58.675> or<00:34:58.820> giving<00:34:59.062> opportunity.

00:35:00.511 --> 00:35:05.719
And<00:35:00.575> I<00:35:00.672> owe<00:35:00.849> those<00:35:01.139> people,<00:35:01.525> like<00:35:01.702> all<00:35:01.799> the<00:35:01.944> other<00:35:02.089> people,<00:35:03.089> everything,<00:35:04.057> because<00:35:04.444> without<00:35:04.783> them<00:35:05.332> you're<00:35:05.412> nothing.

00:35:06.461 --> 00:35:10.591
And<00:35:06.800> but<00:35:07.042> hopefully<00:35:07.445> somebody<00:35:07.849> feels<00:35:08.091> the<00:35:08.171> same<00:35:08.413> way<00:35:08.558> about<00:35:08.817> me<00:35:08.994> somewhere,<00:35:09.462> that<00:35:09.559> I've<00:35:09.704> given<00:35:09.962> them<00:35:10.107> an<00:35:10.253> opportunity.

00:35:11.156 --> 00:35:13.321
And<00:35:11.398> hopefully<00:35:11.802> I've<00:35:12.028> given<00:35:12.206> more<00:35:12.367> opportunities<00:35:12.917> than<00:35:13.014> I<00:35:13.176> think.

00:35:14.857 --> 00:35:15.924
Oh,<00:35:14.954> I'm<00:35:15.099> sure,<00:35:15.293> I'm<00:35:15.503> sure<00:35:15.681> they<00:35:15.827> do.

00:35:16.005 --> 00:35:21.760
By<00:35:16.166> the<00:35:16.247> way,<00:35:16.716> uh,<00:35:17.379> circling<00:35:17.783> back<00:35:18.009> to<00:35:18.106> something<00:35:18.332> you<00:35:18.429> said<00:35:18.656> a<00:35:18.672> little<00:35:18.833> bit<00:35:18.995> earlier,<00:35:19.399> that<00:35:19.997> Netflix<00:35:20.483> doesn't<00:35:20.725> have<00:35:20.903> any<00:35:21.129> theaters.

00:35:22.100 --> 00:35:23.005
What<00:35:22.213> a<00:35:22.278> great<00:35:22.585> idea.

00:35:23.086 --> 00:35:24.186
Netflix<00:35:23.491> should<00:35:23.652> open<00:35:23.895> theaters.

00:35:26.020 --> 00:35:26.751
Well,<00:35:26.117> go<00:35:26.215> for<00:35:26.377> it,<00:35:26.523> Clint.

00:35:27.255 --> 00:35:32.276
Just,<00:35:28.652> uh,<00:35:28.717> just,<00:35:29.058> uh,<00:35:29.302> don't<00:35:29.627> bring<00:35:29.871> me<00:35:30.017> in<00:35:30.180> on<00:35:30.277> the<00:35:30.358> licensing<00:35:30.911> stuff<00:35:31.106> because<00:35:31.415> I<00:35:31.496> can't<00:35:31.805> take<00:35:31.983> it<00:35:32.065> again.

00:35:33.589 --> 00:35:34.801
I<00:35:33.686> don't<00:35:33.912> have<00:35:34.090> one<00:35:34.316> more<00:35:34.478> in<00:35:34.655> me.

00:35:35.544 --> 00:35:36.561
Oh,<00:35:35.851> I<00:35:36.190> love<00:35:36.432> it.

00:35:36.900 --> 00:35:39.194
Hey,<00:35:37.304> uh,<00:35:37.482> thanks<00:35:37.724> so<00:35:37.886> much<00:35:38.128> for,<00:35:38.386> for<00:35:38.532> coming<00:35:38.919> on.

00:35:39.404 --> 00:35:43.434
Uh,<00:35:39.727> we'll<00:35:40.050> have<00:35:40.211> to<00:35:40.615> regroup<00:35:41.261> as<00:35:41.342> you<00:35:41.439> progress<00:35:42.004> and,<00:35:42.230> and<00:35:42.408> maybe<00:35:42.634> have<00:35:42.731> you<00:35:42.780> back<00:35:43.041> on<00:35:43.139> again.

00:35:43.859 --> 00:35:44.578
That'd<00:35:43.957> be<00:35:44.104> incredible.

00:35:44.627 --> 00:35:46.671
Seriously,<00:35:45.412> uh,<00:35:45.592> what<00:35:45.756> an<00:35:45.903> honor<00:35:46.083> to<00:35:46.230> have<00:35:46.557> you.

00:35:46.966 --> 00:35:51.301
Your<00:35:47.146> career<00:35:47.326> has<00:35:47.473> been<00:35:47.571> incredible,<00:35:48.209> and<00:35:48.664> Thanks<00:35:48.842> for<00:35:48.971> everything<00:35:49.311> you've<00:35:49.456> done<00:35:49.699> for,<00:35:50.104> for<00:35:50.265> music<00:35:50.702> over<00:35:50.929> the<00:35:51.010> years.

00:35:52.547 --> 00:35:53.323
Thanks<00:35:52.773> for<00:35:52.854> having<00:35:53.194> me.

00:35:53.372 --> 00:35:53.809
It<00:35:53.420> was<00:35:53.501> a<00:35:53.582> pure<00:35:53.695> pleasure.