Pandora's founder: We can make the Internet radio business work

If you haven't noticed, the world of streaming Internet radio has been on fire lately. The sector, which involves people creating their own customized radio stations on computers or smartphones, has grown by leaps and bounds, with tens of millions of users in the United States tuning in on a regular basis to radio or music programming delivered over the Web.

Of the companies in this market, Pandora Media has the loudest voice. Pandora allows users to create as many as 100 free radio stations but does not let them pick specific songs. Using a "thumbs up-thumbs down" screening system, users can tell Pandora what they like to hear after inputting the name of an initial artist to narrow in on a genre of music.