>> “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

>> “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 thing: Successful people tend to give simple advice like this where they are just stating the obvious. In the real world, every entrepreneur is already doing this - they are identifying needs, and using technology to solve those needs. That alone doesn't allow you to create a successful company, much less the 'billion dollar company' Ev talks about. Creating a successful company likely involves a lot of hard work, identifying how to stand apart from the competition, and above all luck. Unless I'm just trying to give a speech to an appreciative audience, or get pageviews, I wouldn't claim that there's any 'formula' to it at all.