A good article for any aspiring internet entrepreneurs. You might need to be logged into LinkedIn to read it though.

Extracts:

What most people don’t understand is that the best way to create a consumer Internet company worth north of a billion dollars is to build a digital transaction business – a company that connects buyers and sellers so they can more efficiently transact. A full two-thirds of the 24 publicly traded U.S. Internet companies worth more than £0.64 billion are digital transaction firms.

There are many factors that go into building a billion-dollar business. A great consumer Internet business typically emanates from the conviction and instincts of an exceptional founder who is on an all-consuming mission. As an entrepreneur, you should pursue a mission that personally inspires you. It can’t just be a clinical analysis of a particular sector or business model.