"Here’s the formula if you want to build a billion-dollar internet company," he said. "Take a human desire, preferably one that has been around for a really long time...Identify that desire and use modern technology to take out steps."

Here's the formula if you want to build $1 billion Internet company because I know that's what people come to XOXO to learn. It's simply this, identify a human desire, preferably one that's been around for a really long time. We often think the Internet enables people to do new things, but people just want to do the same things they've always done.... See more