Beats? Do you own a pair of earbuds or headphones by Beats? Why did you buy it? Was it because of the audio? The brand? Is it a fashion statement for you? Whatever the reason, Beats is incredibly successful, having been acquired by Apple in 2014 for $3 billion dollars. How did it start? What problem was the company trying to solve?
In this episode, Shawn and Wang discuss a clip that talks about Beats’ origin and the problem it was trying to solve from the Acquired podcast, a podcast where technology M&As, IPOs, startups and VCs are explored one exit at a time. Here’s a snippet of the things that Shawn and Wang remix their thoughts on:
- Wang’s depressing taste in music and why he does not listen to a lot of music (and Shawn believes that fewer and fewer people are listening to music as well)
- Shawn’s thoughts on the Beats company and why it was so successful. Shawn also shares a story about why he owns Beats headphones.
- We learn how Beats was started by Dre and Jimmy and how Dre and Jimmy found an opportunity in the market for headphones
- Shawn dissects the reasons why Jimmy and Dre would start Beats when both have already been uber-successful
- Wang tries to convince Shawn that it’s not as crazy as it sounds
- The two key takeaways that Wang took away from the clip
- Shawn talks about the one trait (not the only trait) that successful entrepreneurs share
- Shawn and Wang talk about some of the products today where there might be opportunities to turn them into fashion statements
Do you own a Beats product? Why did you buy it? Do you have a beach house that we could run by? Let us know on Twitter! We love to hear from our listeners. Interested in more? DM @wangyip with your e-mail to subscribe to The Remix newsletter.
Subscribe to us on iTunes, Google Play, Stitcher or your favourite podcast player. Rate and review us on iTunes – your ratings and reviews help us improve the podcast and expose us to new listeners.
@shawnkanungo and @wangyip