Facebook is so ubiquitous now that it's like another manifestation of the web itself.

PayPal once rejected a candidate who aced all the engineering tests because for fun, the guy said that he liked to play hoops. That single sentence lost him the job.

Facebook and Myspace are the U.S. audience, which is tried and true when it comes to being susceptible to ads.

I think the hallmark of a really good entrepreneur is that you're not really going to build one specific company. The goal - at least the way I think about entrepreneurship - is you realize one day that you can't really work for anyone else. You have to start your own thing. It almost doesn't matter what that thing is.

You can't get married to any one particular plan. That is the biggest lesson I learned at PayPal.

Media is very different from financial services. People are very fickle and very vocal. They believe that things should be one way and not the other. It's still very rewarding to build products for huge audiences. It feels like you're making an impact.

I have this massive notebook called IDEAS and another one called PERSONAL IDEAS and another one called CRAZY IDEAS.