Date Added: Jul 2010
Pandora is an online music recommendation provider launched right as the dot-com bubble burst in March 2000. So, what did founder Tim Westergren and his young company do? "We kind of improvised for a few years," says Westergren. "We just hung on for dear life. Our money ran out after about a year and people started working for nothing." He tells Business Insider CEO Henry Blodget that in order for a company to survive the early years everyone needs to have "a sense of responsibility and loyalty to each other." At the same time, the people in charge need to be able to motivate their employees by showing off a strong passion for the business.