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I don't think the answer for us is like um one way or the other. We think both can coexist. ... So, Spotify's approach has been let's support both um in tandem.
the perfect music product is one that ... I think we're getting closer to it now, which is which is awesome
Let's take Spotify as an example, where where obviously using a lot of the frontier models, but we we have a bunch of fine-tuned um models ourselves, too. Um and we tend to do both, and that is actually making us more innovative
I think in the future ... we can soundtrack every moment of your life in an amazing way ... that's thanks to AI.
I'm still spending time with Spotify. I'm exec chair um there. Uh so, that's uh still you know, uh my baby. even though I'm not involved in it on everyday basis.
We then took it to the UK um and made it huge hit there. And then in 2011, 15 years ago now, uh, we launched in the US. Um, and, uh, yeah, I'm in. And the rest is sort of a history.
we launched in late 2008. Um and it instantly became a huge hit.
we basically took all of our own money that we had made from prior startups, and we said to the record labels, what if we would guarantee you that basically you'd keep your bonus for the next year, and you make your budget for the next year... you win no matter what.
the originally the idea was to try to go global from day one, and everyone was just laughing at at us when we were originally saying that.
the music industry at that time was in freefall because uh music piracy was kind of rampant.
we started Spotify in 2006. I was 23 at the time um and the world looked a little bit different. So, this is pre uh iPhone, pre uh I mean, Facebook existed, but it was college-only.
I think the open and closed are going to be two things that are going to exist side by side. So the interesting thing about Spotify today is like, on the one hand, of course, we're a huge platform in podcasting, and we have a destination. There are certain things that we're doing that general podcasts may or may not be doing. You know, one of those will be how we're handling comments and so on that are specific to the platform. But we actually do have tools. So what a lot of people don't know is
let's take Spotify as an example where we're obviously using a lot of the frontier models, but we, we have a bunch of fine-tuned, um, models ourselves too. Um, and we tend to do both and that is actually making us more innovative and that's actually allowing us to do certain things that we couldn't do, uh, with the frontier models, uh, either because of cost and efficiency reasons, or sometimes because we just couldn't tune them, uh, the way we will want it.
if I look at healthcare and I look at what we're doing at Spotify, like it is truly amazing.
the perfect music product, um, is one that, um, you know, I, I, I've described this many times and I think we're getting closer to it now, which is, which is awesome is right now, you know, you can put together a better playlist yourself than what the system could do. Um, but I think in the future, uh, downrightly, we can soundtrack every moment of your life in an amazing way, uh, where you just feel more like the, the power of great music is that you will feel more. If you're happy, you'll feel
this is exactly what we learned with Spotify too. The more data we're able to gather, the better predictions we're able to give you about what song to play next.
we launched in late 2008. And it instantly became a huge hit.
Uber is a company that has impact on the world. It's important. It's in trouble.
the way for us to compete with that is just making our service better and better.
one of the largest things that people do is, um, stream repping. You know, just, if you look in the, um, app stores, both the Apple and, and, um, Google, uh, app stores, you see in the top 10 apps, um, almost exclusively always, there's some sort of stream ripper where you can download the stuff off of YouTube or SoundCloud or any of those platforms and put it in your local library.
what we saw very clearly is like the people who were listening to Taylor Swift, you could see an immediate spike, you know, the next day from when we removed her catalog to, uh, YouTube streams. It was almost a one-to-one correlation because kids are smart.
No, it's because they want to get promoted. Uh, so they view it more as promotion than, um, anything else.
I, I like to think that it doesn't matter how many smart Mensa people you have in your company. Sooner or later, you're going to get defocused if you do a thousand things and you can't do all thousand things super well.
I think they're going to keep investing, as I said, and trying to make their product better. It makes sense. They have a deep heritage in music, um, which they obviously care about.
Apple and Google does this and about 10,000 other things. I think there's, um, something huge, um, in, in terms of that focus because it brings clarity. It brings, you know, this is all I do every day. I don't even invest in other companies. I just focus on building this company. Um, and you know, we think by that focus and the thousands if not millions of hours that we produce in just creating that experience, we will win.
I think both Apple and Google are serious in music and will keep on investing in trying to make it.
I made a tweet that I later had to remove, so I'm not going to say much more about that, which was like, wow, this is terrible.
Apple starts with closed and then on a case by case basis they will open it up.
I think both Apple and Google are serious in music and will keep on investing in trying to make it. Um, we're, we're specialized. We don't do anything other than our own service. Um, Apple and Google does this and about 10,000 other things. I think there's, um, something huge, um, in, in terms of that focus because it brings clarity.
I think they have fundamentally different approaches, uh, Apple and Google. So Apple starts with closed and then on a case by case basis, they will open it up. Um, Google has the opposite view, which is we start with open and on a case by case basis will close things down. But I, I think that's the ethos that really is the huge difference between those two companies. So Google's approach to this is if someone tells us it's illegal, i.e. a government of some sort, we will take it down. But, um, u