Streaming music services are never likely to make money: 1. Cost of goods is not controllable 2. Competition is arguably my-playlist-algorithm is better than

Streaming music services are never likely to make money: 1. Cost of goods is not controllable 2. Competition is arguably my-playlist-algorithm is better than yours. 3. Google, Amazon, and Apple run their service at break even to a loss and make up the difference with ancillary revenue. I'm surprised FourSquare wasn't listed. They're going for another $40mm round at half of their prior valuation.