It took 10 years to go from building the initial Smartphone to reaching the mass market. BlackBerry came out in 2003 and it didn't get to about a billion units until 2013. So I can't imagine it would be much faster for VR.

Virtual Reality is really a new communication platform. By feeling truly present, you can share unbounded spaces and experiences with the people in your life. Imagine sharing not just moments with your friends online, but entire experiences and adventures.

We used to write this down by saying, 'move fast and break things.' And the idea was, unless you are breaking some stuff you are not moving fast enough. I think there's probably something in that for other entrepreneurs to learn which is that making mistakes is okay. At the end of the day, the goal of building something is to build something, not to not make mistakes.

I think as a company, if you can get two things right--having a clear direction on what you are trying to do and bringing in great people who can execute on the stuff--then you can do pretty well.

Why are most chess masters under 30?

The web is at a really important turning point right now. Up until recently, the default on the web has been that most things aren’t social and most things don’t use your real identity. We’re building toward a web where the default is social.

The most important thing is to keep your team as small as possible.