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

“Every single successful media platform has been built off the back of existing content, even though they’re most known for their own things today”

This has to do with the idea of breaking up a larger app/platform into multiple apps/platforms, instead of building more features into the main app

Luminary raised hundreds of millions to become to the “Netflix of podcasts” But… it’s not really working

“I think the last job to be done by a machine is creativity”

With a film, you know it’s not reality (no matter how real it feels). With a podcast, or something similar, it feels so real, that it’s as if you’re in the room with the conversation participants.

Ex.: How Facebook created its own Messenger app

“We can’t rest on our laurels. We believe the market we’re going after is audio. That adds up to 2-3 billion people around the world who want to consume some sort of audio content on a daily or weekly basis. If we’re going to win that market, we’d have to be at least a third of it. We have somewhere between 10-15x of where we are now of opportunity... See more

Think: Podcasts are based on RSS feed technology (which was pre-Facebook, YouTube, and a whole bunch of other things we take for granted)

On average, people download 1 new app per year.

“There’s no doubt in my mind that we’re going to go through a very similar journey where even the concept of what a podcast or audio actually is will become re-imagined.”