Instead of trying to brainstorm startup ideas, look at your own life for a problem that needs solving.

Chesky says he learned the best ideas often comes from finding a solution for a personal problem.

Know your industry's laws and regulations.

Airbnb has run into problems with local and national hospitality laws. Part of that comes from starting a tech company that must work with laws that don't consider the sharing economy - people as businesses. They didn't know whethe...

Chesky says that it's better to have a hundred people that love your company than a million that sort of like it. A hundred people that like you will tell ten people. It is also easier to focus on the needs of a smaller core of customers.

Chesky considers about 20 to 30 entrepreneurs as his mentors. Every time you don't know how to do something, there's someone else who does.