Invest Like the Best with Patrick O'Shaughnessy

Daniel Ek – The Future of Audio - [Invest Like the Best, EP.147]

18 snips

Nov 12, 2019

Daniel Ek, the innovative founder and CEO of Spotify, shares his insightful views on the audio landscape. He discusses how globalization and automation are reshaping business dynamics. The conversation dives into Spotify's strategies for scalability and the evolving role of creators on the platform. Ek highlights the importance of community in audio and the intimate nature of listening experiences. He emphasizes the need for continuous innovation to adapt in a competitive market, making for a captivating discussion.

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ANECDOTE

The Dubai Chocolate Maker

Daniel Ek learned a valuable lesson from a chocolate maker in Dubai.
The chocolate maker prioritized a comfortable life over aggressive growth, highlighting the importance of aligning business goals with personal values.

INSIGHT

Polarization of Business

Globalization, automation, and digitization polarize businesses.
Niche players or those achieving massive scale thrive, while mid-sized businesses struggle.

INSIGHT

Jobs to Be Done

Consumers' jobs to be done can evolve, and seemingly different needs may converge.
Spotify views the job to be done as audio consumption, encompassing both music and podcasts.

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My guest this week is Daniel Ek, the founder and CEO of Spotify.

In my conversations with Daniel, I’ve found him to be one of the most interesting and thoughtful business leaders in the world. You’ll see what I mean as you listen to our conversation.

We talk about Spotify plenty, but what I so enjoy about Daniel is his way of thinking in systems and frameworks. He is committed to evolution, innovation, and growth for both himself and for Spotify and is on my shortlist of CEOs to emulate.

This was one of my favorite conversations on the podcast, I hope you enjoy it.

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.

Follow Patrick on Twitter at @patrick_oshag

Show Notes

1:21 – (first question) – Management lessons from a Dubai chocolate maker

4:54 – Trends shaping the business landscape today: globalization, automation, and digitation

7:51 – How he thinks about the vertical integration of his business and scale

10:37 – Are companies doing a good job adjusting to the changes in the global business landscape

14:44 – How does Spotify view scale moving forward

17:59 – What trends has he seen among creators as a result of the Spotify platform

20:32 – The community benefit that has been created by the platform

23:47 – Intimacy of audio

25:31 – Creating an environment that continues to spur innovation

29:12 – Star vs constellation business strategy

32:21 – Measuring network health

35:12 – Spotify Originals and what his competition in the video market is doing

39:36 – How podcasts play into the growth strategy

43:04 – How did he solve the problem of competing with free

47:21 – Is their strategy repeatable, going after fractured suppliers

49:02 – Role of the CEO in a startup

51:22 – Others who have taught him great business lessons

53:18 – Kindest thing anyone has done for Daniel

Learn More

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub

Follow Patrick on twitter at @patrick_oshag