Spotify CEO Daniel Ek Opens Up About Feeling Inadequate Every Day

Daniel Ek, the billionaire founder and CEO of Spotify, recently revealed that despite his success, he still grapples with feelings of inadequacy on a daily basis. Speaking on Norges Bank Investment Management's podcast "In Good Company," Ek admitted that he often feels not good enough.

The Struggle with Self-Doubt

Even though Ek is at the helm of one of the world's most well-known companies, he confessed that he constantly questions his abilities. When asked about his happiness, he responded, "I still feel inadequate every day and still feel like [expletive] when I've screwed up something." He further expressed his dissatisfaction, saying, "That's constantly how I think about things. I constantly see problems as much as I see opportunities in front of us, and I feel impatient that I should do that."

Overcoming Inadequacy

To cope with these feelings, Ek relies on a supportive work environment. He surrounds himself with colleagues with whom he can share jokes and learn from. "I get to send them weird memes, which they don't understand half the time, and send me weird question marks back, but it's the way we roll with things and that brings me happiness," he explained.

An Unconventional CEO

Ek is known for being refreshingly candid about his self-doubt, a trait not commonly found in CEOs. In a LinkedIn post several months ago, he wrote about his struggle with the desire to be liked. He shared a guiding motto from George Bernard Shaw, displayed on a wall in his house, which reminds him to persist and not worry about conforming.

The quote reads: "The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man."

From Rags to Riches

Ek's journey to becoming a billionaire began when Spotify went public on the New York Stock Exchange in 2018, giving the company a valuation of approximately $30 billion. Since then, Spotify's stock has experienced ups and downs but has shown consistent growth. Over the past five years, it has risen by 58%, and in the past 12 months, it has surged by 91%, bringing Spotify's worth to $46 billion.

Currently, Spotify boasts 239 million subscribers, with about 70% of its revenue going to music rights holders. Additionally, the platform offers a free version supported by advertising, which attracts hundreds of millions of users.

Business Insider reached out to Spotify for comment but did not receive an immediate response.

Do you have insider information as a current or former Spotify employee? If so, please contact Jyoti Mann at jmann@businessinsider.com or reach out via direct message on X @jyoti_mann1 using a non-work device.

Read the original article on Business Insider.

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By: jmann@insider.com (Jyoti Mann)
Title: Spotify CEO Daniel Ek Opens Up About Feeling Inadequate Every Day
Sourced From: www.businessinsider.com/spotify-ceo-daniel-ek-feels-inadequate-every-day-worth-billions-2024-2
Published Date: Tue, 13 Feb 2024 11:15:59 +0000