Disqus - Latest Comments for Tim Westergren

Re: What motivates an investor to say “yes”

Tim Westergren — Tue, 11 Sep 2007 19:59:15 -0000

David, I am indeed a believer in the 'emotion' theory of investment. I now hear many new business ideas, and find that I have visceral reactions to ideas. These reactions are decidedly personal - and reflect my own biases/background. For most of these ideas I can't imagine having enough time to get smart enough to make the call purely on the financial merits - it's very instinctive. Next to instinct, i'd probably say that an endorsement from someone I really trust in the space would be the next most powerful driver.

I'd also add that my experience has taught me just how important the personal chemistry is with the investors. I'll bet a majority of small companies fail because of interpersonal issues. So it's perfectly valid to treat that part of your diligence as a material criteria.

Re: What motivates an investor to say “yes”

Tim Westergren — Tue, 11 Sep 2007 20:04:17 -0000

mathew - I chuckled when I read your comment. I completely agree - if someone starts talking about their 'guidelines', pack your bags. Any rule can be broken with the right deal. It's just a gentle way of saying now. Speaking of, one advice to VCs, be gentle. No reason to be short/rude. Remember how hard it is to be an entrepreneur.

Of all the VCs I pitched to, the ones I thought were the most insightful, and that impressed me the most (virtually all of whom said 'no'), were those who had been entrepreneurs. And to a person, they were also the most respectful. Even if they thought your idea was ridiculous, they treated you well. That really means a lot.

Re: What motivates an investor to say “yes”

Tim Westergren — Thu, 20 Sep 2007 19:27:11 -0000

hi Noah - I'm afraid it was literal.

T.

Re: What motivates an investor to say “yes”

Tim Westergren — Fri, 21 Sep 2007 17:32:38 -0000

Took about 2 years.... Felt like dog years...

Re: The business of music: It’s the relationship, stupid

Tim Westergren — Fri, 02 Nov 2007 01:36:07 -0000

I love that concept, Don - "customer service as a sales channel..." Completely agree with that philosophy... Thanks for sharing.

Tim

Re: The business of music: It’s the relationship, stupid

Tim Westergren — Fri, 02 Nov 2007 11:17:54 -0000

Completely agree, Tony. Its a great point. The internal relationships are just as important - just as defining of a company's identity, and just as determining of their long term success. If you don't have this philosophy deep down in your bones, it's hard to do it right. You can really argue that the most basic 'relationship' is with your employees. Thats where it starts. That's your DNA.

Tim

Re: The business of music: It’s the relationship, stupid

Tim Westergren — Fri, 02 Nov 2007 22:43:09 -0000

Marc - I don't disagree that there will always be folks who don't honor the bargain. But that doesn't mean it can't work. From what I understand, the Radiohead site, in spite of having serious technical difficulties, and requiring an awful lot of personal data, still drove a tremendous volume of sales - completely voluntary. That's got to be taken seriously. ANd I do think there's going to be an education process. Something of a cultural shift where music fans no longer view labels/major artists as the enemy, from whom they're perfectly within their right to steal.

T.

Re: The business of music: It’s the relationship, stupid

Tim Westergren — Mon, 12 Nov 2007 01:37:50 -0000

Thanks for the note, Chris. good luck with your website. The Christian music genre seems to be thriving...

Tim

Re: When Will the Recording Industry Get It?

Tim Westergren — Mon, 23 Apr 2007 21:23:33 -0000

Hi Michael -

Just wanted to say that I really enjoyed reading your post. As a musician and composer myself, I'm particularly worried that most artists are not aware of this, and are being misled about the consequences for them.

Pandora plays the music of over 33,000 artists, over half of whom have no label affiliation. It is the one and only promotional channel for 98% of the recording industry. Take it away, and you destroy what is perhaps the most vibrant and promising piece of music's future.

Thanks again for sharing your perspective.

Cheers. Tim (Founder, Pandora)

Re: Pandora wins round one, but for the rest of us, nothing changes

Tim Westergren — Sun, 28 Sep 2008 11:31:48 -0000

Hi Duncan -

Let me clarify the issue around Pandora streaming internationally. I understand your frustration. We share it. We started blocking listeners because we were threatened with a lawsuit if we didn't. Companies of Pandora's size and standing cannot ignore those threats.

As soon as we get the issue sorted out in the US, we fully intend to pick up the cause overseas. It's always been our intention to make Pandora global. Hopefully a resolution will offer some precedent to accelerate similar arrangements across the globe.

Also, just so listeners know, the fact that a bill passed unanimously does not mean it wasn't threatened. The negotiations to pass this bill continued right up to the hearing - it was in fact delayed because it was touch and go.

Tim