Pretty awesome how he kept going even when they had no money in the bank. Most other people would've given up. That and it is amazing how employees stuck around without getting paid make me want root for them even more!
> Every two weeks, he held all-hands meetings to beg people to work, unpaid, for another two weeks. That went on for two years.
What's really astonishing is how long he managed to keep this up. He must have been an extremely good motivator and hired lots of incredibly dedicated employees. If he didn't get his eventual lucky break, these people's lives would have been wrecked.
There must be a lesson to be learned here, though I have some doubts if it is repeatable.
> In March 2004, he made his 348th pitch seeking backers...
I'm surprised he had so much difficulty raising VC after that. You'd think a story like that would get around. Many entrepreneurs have proven track records of success, but few have proven they can persevere against all odds.
I'm astonished that the VCs were OK with this. Pandora must have had crazy-ass growth, because using new funds to pay people for past performance is very, very rare.
