Pandora is far from being an overnight success story. The company launched in 2000 during the dotcom boom but when the internet bubble burst shorty after, Tim says that financing "doors slammed shut" and the company "had to hang on and survive." The founders and even some of Pandora's employees worked for free (though not full-time) for two years!
So why were these guys able to stay the course and make it as a company?
Besides their ability to persevere and willingness to adapt to circumstance (their business model has changed several times), one thing that's abundantly clear in the interview is Tim's passion for music and the mission of Pandora, as he says: "I love music... What makes this job so wonderful for me is that I'm getting to run a business that is having a big impact through music to people. To me, I can't imagine anything more fulfilling."
When asked about the company going public Tim's response is a humble one: "I'm happy about taking a salary right now."
You can watch the full 18-minute interview at Charlie Rose here.