Spotify Founder: How A 23 Year Old Introvert Built A $31 Billion Business!
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- Опубліковано 19 тра 2024
- If you enjoy hearing about the personal journeys of founders, I recommend you listen to our conversation with Bumble founder, Whitney Wolfe Herd, here: • Bumble Founder: World’...
0:00 Intro
02:16 The Influence of Daniel Ek's Upbringing: A Single Mother's Determination
10:55 Paths to Success: University vs. Startup Experience
23:33 Daniel Ek's Wake-Up Call After Retiring At 22
25:45 Finding Passion in Work
27:10 The Unlikely Start: Daniel Ek's Vision for Spotify
36:27 Balancing Love and Alone Time in Entrepreneurship
45:28 Innovative Problem-Solving: Daniel Ek's Approach to Challenges
46:28 Pursuing Opportunities When They Present themselves
50:23 Surviving Apple Music's Challenge: Spotify's Focus on User Experience
52:30 The Strength of Co-founders: Supporting Each Other in Tough Times
56:12 Networking for Business Success: Building Relationships with Assistants
59:38 Financial Risk in Entrepreneurship: Daniel Ek's $10 Million Investment
01:08:27 Personal Growth Journey: How Daniel Ek Has Evolved
01:13:05 The Role of Culture in a Successful Business
01:17:30 From Sports to Business: Daniel Ek on Fostering Collaborative Culture
01:20:10 Embrace Your Superpower: Daniel Ek's Advice for Entrepreneurs
01:23:55 Spotify's Culture of Success: Learning and Adapting from Creators
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If you enjoyed this conversation could you do us a favour and HIT that like button on the video! Helps us a lot ❤ share your favourite part of the convo below 👇🏾
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Spotify has all but cancelled revenue for professional musicians especially performing rights… unbelievable lack of integrity and greed. I work for a music charity. Before Spotify musicians had passive income for others playing their music( and encouraged to buy it outright: which you can still do on apple and band camp). Now unless you are in top 1 percent it is basically a platform where Spotify siphon off the lions share through people paying to use the platform.
I will never sign up to this platform.
Please look into this and how many streams you need to have to make even £100.00 on this platform
So I understand that you called social media platforms to demonitize Russell Brand and even deleted your interview with him.
In other words: you are part of the stinking cancel culture mob…. Shame on you!
did!
Dude you’re getting better and better
Future guess puffy Combes Quincy jones or Nxt. Level dr Dre 👍🏾
This podcast PROVES that when mothers or even fathers focus all their energy in making their kids better skilled and better humans, great things will come out of it. I felt like he was a PROJECT for his mother and she focused, persevered, installed in him all what he needed to become this man he is today.
Until he started investing 100 mill + in the military
His wealth has come from exploiting musicians and independent record companies. Hardly something to be proud of.
@@Fenton__Which military?
How it proves that? So your mom or any other didn’t succeed?
I can understand why you feel that way, but have you considered that without Spotify, musicians would be getting paid absolutely nothing because people would be pirating their material. Now artists are paid every single stream.@@d-zone
Being an introvert, this is my favorite episode. I could very much relate to him talking about walking away from the dinner parties. I do the same and always wondered whether I was the only one and whether there was something wrong with me.
I am a extrovert introvert.. not joking.. anyone else here like that?
@@Auktioneronline That's the perfect way to describe myself. :)
@@Auktioneronlinejup.
personality types dont exist
A better term for that is an ambivert.
The concept of getting an idea, walking away to contemplate on it and then coming back an hour later perfectly describes the life of a writer, although sometimes it can be several hours before they come back. The idea for a story can come at any time.
Yes! What do we do next?
This guy is one of the most genuine people I’ve ever seen. True to the audience and true to himself.
Spotify changed my life as a introvert, walking around with my Bose and listening music like I belong ❤ made such a huge difrence in my life 🎧🎶
Me too!
This is exactly why art is dead. It is now a convenience for consumer use. In the case of music it's a literal buffett from the Titanic for your 30 min run/walk. Music taste is a thing of the past.
What an intriguing brain this young man has. His mind is wired in a very symphonic way. LOVE IT. He has given me a lot of words that explain my feelings
I relate to this guy soo well. Introvert by nature that can turn it on. Avoided uni and went into startups in foreign countries early on. I have changed jobs soo much and gained a broad understanding of business, admin, sales, marketing, so on as well as multiple countries, cultures, etc. I am 30 and probably should start my own business.
Godspeed on your business venture
YES GREAT EP - Hope you are succeeding, enjoying the journey to further knowledge- all the best
First time I ever heard of this channel. Felt like I found a goldmine.
Impressed in your ability to let the guests talk/rant and knowing when you can add to the discussion.
This is the best podcast in the world. The way the host challenges his guests with tough questions instead of just placating the guests, where its a real philosophical and existential conversation among equals instead of a fan boy interview is unparalleled and unrivaled. Bravo.
Hands down, this is the best podcast in the world. How deep it dives into details where you can literally can get a clear idea how Daniel works in his own way.
It's not that he's become a billionaire, it's that he's able to solve huge problems and said practically said anything is possible. Just wow.
Wonderful profound insights to initiate in life game
Imagine if he payed the artists? ..... instead of having 1 multi billionaire and millions of struggling, penniless music creators. What an idea THAT would be.
100%
WOW.....
You could pay a million creators $1000 each so they will all be $1000 richer and he would be broke. Is that meaningful?
Ha! That's not how this works. You have to remember that the content is owned by the artist, and not him. The screenwriters problem at the moment in the US is based on the similar problem. Ten years ago a musician could sell a few CDs and make a living, but these days have to be streamed several million times each and every month to make minimum wage. But hey, it's the future. Everything will be free on subscription in the future.@@JL-qf3hq
@@JL-qf3hqliterally! People with the negative comments have no idea what business is 😂😭
This episode was truly refreshing. I identify a bit with being an introvert with add traits myself. I have always had more than one area of interest in my life: art, graphic design, brand management, copywriting, client management, psychology, fashion. I felt to be really good at many things, but not great at one. I worked with start-ups helping to build brands, but never thought I could be an entrepreneur myself as I saw this diversity in skills as a weakness more than a strength. I also always thought that work should be hard. So maybe it’s time to address those harsh believes.
Wow - I hear so much of myself in your comment! But for me, my varied interests were the exact reason why I had to work for myself. I needed the freedom and flexibility to shift gears as I saw fit. As long as you maintain some structure in your daily routine, you can do amazing things! Best of luck to you!
It is almost like if you described past me - amazing academic success, ex dancer, always did so many things and felt I could do more but with so many challenges from attack to abuse it made me feel incapable at best. I am sharing this to say - you are enough, you are great, please work on your beliefs (talking based on own experience) and go for your dreams - you will make it! ❤
Keep doing what you're doing Stephen! Your interviews are STELLAR! Thank you.
true!
So affirming to hear that there are other people who need to blend social time with a lot of alone time, even while socializing. And that their friends understand.
When I first saw the video uploaded, I said "No Not Daniel Ek, he is a topic in every tech event in Stockholm". But I sit down and listened and respected his authenticity and that hold me every minute during this interview. Then yesterday I forwarded this interview and asked a friend who knows him and she said he listened him in many occasions, she said he is honest and open so it leaves a surprise to us and a moment of silence. When he shared his motivation to be in a group/herd, I saw the worries of my 11 year old son growing up in Stockholm. When he shared the difficulties of motivations and aims in life, this is so good. Thanks. I will watch again with my son.
So much to take out of this episode. The way Daniel has, with his co-founder, shaped their business and how he’s created a culture that allows people to grow and be able to fail is what I found especially refreshing. Empathy and humility are such important attributes for a leader to exhibit. As someone working in a startup with a founder who operates very differently and is far from what I think we need to take our business forward, this episode has been especially helpful. Thank you Stephen for continuing to have such incredible guests on your show. It’s making a real and positive impact on people like me 😊❤
For an introvert to be this free still amazes me! Thank you.
yet he has no conscience when ripping off independent record labels and their artists.
He said something that not a lot of the executives in your interviews have said. Executive Assistants are the KEY to the kingdom. They are the gate keepers, so few people have called this out. You should REALLY start a sub series that talks to EA's because they are so critical to the success of high ranking people.
Couldn't aggree more, I would also find that very interesting, but i could assume that less people are willing to watch interviews with 'seccond' tier employees, which is sad.
LOVE this idea. Diary of a EA
The music industry was going down hill, but Spotify pushed it off a cliff. Pay artists more.
Yes pay artist what they are worth
Agreed. That man is a terrible person. Just go back and listen to the things he’s said publicly about musicians. Musicians are not slaves. They’re creatives and in order for them to continue to create they need to be paid for their work. Not be paid less for increased streams of their music
It's a free market.
Music is about the listener not the artist
@@paulb3491 say that back to yourself again… slowly… if a tree falls down in a forest and there’s no one around, does it make a sound? if there’s no music there’s no listener
Another one of the most interesting interviews I've had the extreme pleasere to listen to and comment on as well as repost and share with others. Your questions are extremely well structured to illuminate the inside Storey and people. Thank you so very much.
Loved the interview. I worked in Corporate America for 20 years and then started my own company. Many of the things I'd learned in Corporations really helped me with growing my own business.
Thank you both for this portrait. I enjoyed watching the limited series "The Playlist" on Netflix telling the story of Spotify. This conversation was great additional context - never underestimate the power of change and quiet disruptors. ❤
I instantly connected with how he described his mother, the activities she encouraged him to take part in, and the overall shaping of his diverse perspective on life. Mothers are magicians, especially those with limited means. I'm deeply inspired by both of your work. Here's to all fellow generalists adding variety to any space, those still taking risks and betting it on themselves. 🙏❤
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❤What a lovely surprise,@@sindypetronella 🥰
Your podcast brings value and insight that cannot be gained in most other forms of media today. The part on University vs. startup experience is such an important dialogue to carry-on in society. Most of us have only realized the value in startups or entrepreneurship recently because our parents discouraged the idea of instability.
Steven, I just started reading your book and honestly it is absolutely amazing.
Never before did I have an urge to comment on a video or give a personal review about anything but this book is truly a Gem!!!!
It's awesome to work on only projects you find fascinating. Not to be motivated only by money or hustling for survival
This episode was highly commendable. I subscribed after your message about improving the channel's visibility and attracting prominent guests. I eagerly anticipate an episode featuring Peter Thiel.
Spotify et al have destroyed the music industry, but hey, yay for another billionaire, lets celebrate him while the people that actually make the music get a pittance 😔
The music industry was always a joke, multiple record labels paying their artists small fractions and they still operate this way.
@@allbies yeah you’re right, but the streaming platforms could have actually revolutionised that but instead they decided to follow the same model - i don’t think these people are to be applauded, they had a chance to make a difference, they chose to suit themselves instead.
Agree but they also don't deserve any more criticism than record labels get, and I see much more people bashing Spotify instead of the way the industry operates as a whole. People act and say things like 'Spotify ruined the music industry', with an ignorance to how the music industry had operated for decades before Spotify ever existed.@@SA-limer
@@allbies The difference is that record labels actually paid pretty well and a lot of artists were able to live very comfortably from their album advances and many became millionaires from their cut of CD sales. Spotify revenue for the vast majority of artists won't even pay for their weekly grocery shopping.
@@danielbentley7117 exactly! And also record labels actually had skin in the game to promote their artists. Spotify does nothing and pays $0.004 per stream. So a million streams pays an artist about $3,500… whereas if they sold even half of that in albums they would be pretty well off!
To be fulfilled as a human, have to keep growing - learning and building genuine connections, regardless how much money one has. Thanks for another great interview, going deep.
Such a nice interview to listen to, especially his pace and cadence of speech is so comforting. Not rushing through the topics. Humble guy. Very sympathetic and interesting.
This was such an enlightening and inspiring episode with Daniel Ek, founder of Spotify. His journey from a working-class upbringing in Sweden to building a music streaming giant is remarkable.
It's fascinating to learn how Daniel's intrinsic love for learning, broad interests and ability to empathize with different groups shaped Spotify's innovative product. He seems to embody optimism and perseverance, especially during the tough music licensing negotiations.
His reflections on happiness, introversion, the evolution of his leadership style and emphasis on culture left me with much food for thought. Daniel comes across as humble despite his success. I loved his point about looking inward to understand your superpowers versus modeling other entrepreneurs.
Kudos to Steven for drawing out Daniel's journey and insights so engagingly. As a long-time Spotify user, I have new appreciation for Daniel's values that shaped this product I enjoy daily. Thank you for this peek into the mind of an inspirational founder! I use spotify to host my own podcast
This guy is putting out volume like crazy. Impressed by the effort man
This interview has reignited my determination to persevere and work hard on my startup, which almost 5x died. But it's still alive and has started growing, probably persistence is the key. Thanks!
I've come to realize that the key to amassing wealth lies in making sound investments. I purchased my first home at the age of 21 for $87,000 and sold it for $197,000. My second home, acquired for $170,000, was later sold for $320,000, and my third property, purchased at $300,000, fetched $589,000, with buyers covering all closing costs and expenses. Not reaching a million before retirement feels like an unfulfilled goal.
I initially started my investment journey with the guidance of a financial advisor named *Jenny Pamogas Canaya.* Her transparent approach granted me full control of my investments, and her fees are reasonable, considering my return on investment. Nonetheless, it's crucial to conduct thorough research before engaging with any financial advisor..|
Just finished watching The Playlist, can't wait to see this one!
Has Spotify started paying the artists a proper amount yet?
Not even close unfortunately.
lol
No, that's why this guy is worth billions.
Isn't it the record labels like Sony Music, Universal Music and Warner Music that are screwing the artists over? They are the ones getting the lion's share from streaming revenues and paying pennies to the artists. I think Spotify has always been losing money since its inception.
@@hearmenow909Said billionaire is the same guy that says he “still feels inadequate every day”. Welcome to your artists’ world then. If you are a small artist, it takes over 330 streams just for you to even make $0.01. CEOs like Ek are spoiled brats who are used to getting everything they want.
This man is one of THE BEST interviewers I have ever seen (after Tom Bilyeu, I had stopped watching such podcast because they were not asking quality questions). This man squeezes the brain of his guest and whoa....what a value and insight he provides! Love it!
This story is proof that quiet ambition can be just as powerful as loud hustle.
What a wonderful mother he has! You always have such interesting guests.
I remember was Spotify was shown on Channel 5's Gadget show when it was in a very early stage.
It was more like an alternative to Napster and no one could predict what was to come.
I really resonated with so much that is being shared, thank you for sharing. Probably the best first hand experience of how getting financial success doesn't mean happiness. Really makes one think about what is important and what brings true happiness. From another introvert!
This episode was truly refreshing. i identify a bit with being an introvert with add traits myself. have always had more than one area of interest in my life art ,graphic design, brand management, copywriting, client management, psychology, fashion. i feil to be really good at many things, but not great at one. I worked with start-ups helping to build brands, but never thought i could be an entrepreneur myself as i saw this diversity in skills as a weakness more than a strength. i also always thought that work should be hard. so maybe it's time to address those harsh believes.
I relate to this guy soo well. introvert by nature that can turn it on. Avoided uni and went into startups in foreign countries early on. i have changed jobs soo much and gained a broad understanding of business, admin, sales, marketing, so on as well as multiple countries, cultures, etc. I am 30 and probably should start my own business
“Easiest person to deal with solving the most of the problems“ what a statement : An individual who possesses excellent communication skills and a cooperative mindset tends to be the easiest person to deal with, as they are open to understanding different perspectives and finding common ground. Their ability to empathize and listen actively enables smoother conflict resolution, minimizing misunderstandings and fostering a harmonious environment. They often approach challenges with a problem-solving mindset, seeking collaborative solutions that benefit all parties involved. Their adaptability and willingness to compromise make them adept at addressing a variety of issues effectively and efficiently. Overall, dealing with such a person can alleviate tensions and promote constructive outcomes in various situations.
I love the honesty and transparency the guest shared. People think that there are cures for the human things we struggle with internally, and often those cures are not at all tied to the events and objects we assume are going to heal us. Great to hear his story.
Learning so much from watching these episodes. Thank you so much for all the awesome probing questions that draw out these incredible experiences and life lessons.
thank you for making these podcasts Steven
By far the best intros to podcasts
Am so behind in this technology running world. I don't really know what Spotify is. Am so grateful to this podcast that am getting to know alot of things in general.
I adore this podcast and think Steven is such an incredible person. However this one I cannot even watch. To see how disgustingly rich this person is when music artists like myself get literally pence per year is devastating. Bandcamp is the only platform with a full conscience. Looking through the chapters I can see that this issue hasn’t been discussed so I can’t watch it, it’s too depressing. I’m so encouraged to see others in the comments bring this up too. And to the person who thinks it’s ‘progress’- maybe it is for the consumer, my goodness of course Spotify is INCREDIBLE for the music loving consumer! But for the people who are making the actual music it’s absolutely immoral. Would you expect suppliers of food, clothing, tech, to get pence per year? It’s the ONLY industry where this is allowed to happen and yet music is of SUCH importance to all. If you think it’s not then look back to things that helped you cope through the pandemic. I’m sure music and the arts is one of them. I don’t usually comment on these public platforms but wanted to add my voice to those who also found this in poor taste (making billions by exploiting the work of others whilst the cost of living continues to rise!).
Hope the next DOAC is more morally conscious. Love the podcast.
Peace and love y’all, have a great day.
Grow up. No one owes you anything. Take responsibility for our own life and stop moping around because someone has more money than you. I get it, it’s unfair. But why you projecting onto someone who is successful. Get a grip
With you on this one as well. Love the podcast and have been keeping up to date with the releases, but seeing the title, I was hesitant to listen to this one. Hearing he "saved the music industry" in the first minute felt like a big slap in the face.
This is precisely my gripe with a lot of these interviews. Great if you only care about wealth accumulation, depressing I'd you care about impact
Here here…!
I'm with you 100% This person made 4 billion yet pays £2000 for 1,000,000 streams of which at best, an artist gets 40% of.
Thanks a million for this episode! Can't describe how much it helped me figure out a lotta of stuff
1:14:58 I love this! I’m a Risk Manager and I think what Daniel is talking about is risk appetite. How much risk are you able to tolerate in any given situation or when making a decision. Organisations need to define where their guardrails are in which you can work and “fail” in this instance. Culture being a big part of that
Been waiting for this one for a long time
Great Guest, very down to earth. Love the story and you are very great to extract addition information.
Completely changed the way I think about running my business, thank you!
What about paying the artists instead of pocketing all the money?
It's amazing how most people don't know how they treat independent record labels and their artists.
Great ideal!! how about paying all the black artist that record label's copied and stole from for decades while there at it!
Yeah right, because artists are just so poor🌚
Amazing, thanks for giving us so much value ❤
The way you create the intros is extraordinary
Awesome, what a great communicator Daniel Ek is!
Thank you so much for your efforts!!!Could you please bring people who could honestly and genuinely talk about Amazon and if it’s a good business model at all? Because so many young people want to start that business and also so many contradictory contents out there and feels like no one is telling the truth. I would really appreciate that
This episode has given me renewed hope that a problem no matter how small or big can be solved with the right energy and people around you. This should be the support and encouragement you need to start or push on. TY
The entire spotify business model is based on exploiting independent musicians and record labels and refusing to pay a fair rate for each stream, that's nothing to be proud of.
Thank you for this podcast. Truly resonating with what most people experience. We are constantly chasing the elusive ultimate destination which does not exist. Trying to find a more meaningful purpose is all part of the journey of life. We are evolving beings it’s only natural to have this constant pursuit. Enjoy the journey.
This was such an engaging yet real and relaxed conversation to listen to. I very much enjoyed it
Great conversation, thank you for this one!!
The value of traditional education versus real-world experience is thought-provoking.
The perspective that there isn't a one-size-fits-all path to success, but rather multiple avenues based on individual strengths and interests, is a much-needed message.
that was obvious all the time.
everybody knows this. Why is this thought-provoking?
I love what Daniel Ek built. My only problem now is how unfairly compensated artist get from Spotify streams.
Have you considered that artists would not be compensated at all for their music if Spotify were not there as a guilt-free deterrent to the free downloads that people were seeking out before?
@@Aeviaematter fact they must be thankful 🙂
@@Aeviae I'm grateful a platform like Spotify exists to counter piracy. This is a two way street though, with out artists Spotify wouldn't of been able to grow as big as it has. I will give Spotify a lot of credit, they have given a ton of artist a platform for growth.
It's a tough one. There's so many people making/recording music now due to the technology being cheap and accessible that there's no way they can all make good money and still get the same amount of plays they get on Spotify.
Says the same people who would not purchase albums legally and would download from torrent. If you really care about artists, would you agree if Spotify raises their subscription fee to 20$ and they pay that extra 10$ to artists? Do you know that Spotify still does not make profit and pays 70% of its revenue to record labels? Those record labels pay artists not Spotify so you should ask them why they don't pay artists more. When do people get some common sense for god sake?!
@Steven. I love your podcasts and the way you interview - I totally respect that you want to dig into the person and the habits / behaviours / decisions that made the person / business who they are - however I’d like to mirror to you that it’s also key to ask some really hard questions even if they are uncomfortable . As a self proclaimed lover of music , surely the question about how Spotify pays / doesn’t pay musicians and payment / % splits should have been front and centre for all to understand / hear it from the man himself . I know licensing is complex and so perhaps would have shone some deeper light onto the issue - but as India Arie commented on your Instagram - you missed the elephant in the room…
1000%
Would love to see an interview with Adriene Mishler.
Love your podcast, thank you
Best channel on You Tube! Well done Stephen!
Yes, culture is all pervasive… I did cultural anthropology in uni, and realised it is everything!
Fascinating tale! Eager to delve into the journey of the Spotify founder, illustrating how determination and vision can transform a young introvert into the architect of a $31 billion empire. Ready to glean insights and motivation from their remarkable story!
Great podcast episode. Plugging ads in the middle of the interview definitely kills the entire vibe though. Sucks for people who have to sit through this spam when we already pay for UA-cam premium and Spotify 😩
You should start your podcasts like Chris Williams pods. No intro. I love diving into it right away
I relate to so much in this video. I fully agree and support what Daniel says about the importance of the workplace culture. Thank you for sharing these really interesting points and wisdom!
Meet the Kenyan woman turning plastics into bricks
"After taking that plastic waste, you can make roads. And if a kid can go to school and arrive on time through the roads I build, I'm happy."
I just saw this news story above and though of DOAC please can we have more inspirational stories that don't involve billionaire's
As an introvert myself this resonates real well with me. I’m also an apple guy but I can’t pry myself away from Spotify. Tried Apple Music a few times just to jump right back to Spotify.
Kehte Hain humko pyaar se INDIA Wale 🇮🇳❤
Thanks to the DOAC team for every single great Podcast 👍
I think the CEO is quite humble bc he's probably super smart. But like.. I really appreciate that he has a really optimistic outlook on life.
Sportify has killed the music industry artists, because this guy wanted to be a multi-billionaire taking from them... what a guy, probably was his caring mom... Another great Podcast Steve.
Liked before even watching! Daniel Ek is the guy!
Very very powerful ideas and practical thoughts to benefit from. Thank you so much !
Thanks for providing my morning track.
lm two months away to launch my two year old venture. l feel anxious and depressed and this convo just gave me hope
That guy just told me the most important thing I've ever heard in my entire life. This interview is just one phrase "You need to study as many businesses as you can if you want to become a successful interpreter".
What a great Pod Steve, you are GOAT buddy!!
Very genuine answers from Daniel Ek! Really enjoyed and learnt something from this interview :)
great interview, thanks!
Great interview! I would like to know why some artists on Spotify drop off my playlist? I can see them but cannot play them.
As an introverted founder, this was so helpful! I’d like to connect with both of you
Amazing interview. Well done gentleman and thank you
He's very grounded, very aware of his environment. I love that he gets that people's journeys are different, there's no one right way❤
I loved this episode!
I love how they go for the self-learning approach, and I’d want to do the same. But lack of proper resources is a challenge in my opinion. Like if you want to really learn something, how do you find the right resources, for getting proper info to learn from
Steve and team. Kudos to y'all. The guests you bring are amazing. week after week! ❤
much love from Ethiopia ❤
Just to say, thank you!
I relate to everything in this episode.
I really appreciate how he is expressing exactly how introvert feels. " "I can switch into my introverted mood whenever I want, or I don't belong to that group". Ohhh dumb true!!!
But introverts can't simply switch into this or that mood. They are just introverts. Most of the time.
And on a good day they are just a little less introvert. But here is no switching.
He is just fishing for compliments and our sympathy.
I hit the follow button at 20:33. Where you asked we subscribe. Great content!
Fantastic episode, thank you.