Pandora as a standalone company is worthless. Whatever profits they make will be taken from them by the record companies. However, as part of another major in

Pandora as a standalone company is worthless. Whatever profits they make will be taken from them by the record companies. However, as part of another major internet advertising company (Facebook, Google, etc.) Pandora's product is interesting. That opens the door to audio retargeting ads, and other decent ad intelligence. So long as Pandora is an independent company, they will never make a profit, but they will always be an acquisition target, so that is why I don't short their stock.