Virtual reality is still a long, long way from being embraced by the mainstream audience. Is the number of people who own headsets big enough to support the investments you're making?
Our new news show is built for VR headsets. We want to be innovators. We want to be the ones out there to put the stake in the ground. Nobody's out there doing a global news show in virtual reality. Luckily, we've got a big audience with The Huffington Post, AOL, Yahoo and Verizon, so we're going to scream it from the rooftops and get as many people as possible to watch the show. Part of it is experimental, but we're going for it. Every episode will take you to three VR news stories every other week.
What advice would you give other entrepreneurs looking to follow in your footsteps?
I think you have to have an incredibly thick skin. You have to be really passionate. And you have to fail a lot — and when you fail, you have to pick yourself up and learn and change and adjust. Anybody who three to four years in is still doing the same thing they thought they were going to do when they set out, is not paying enough attention.
Also, there's lots of sacrifice. Before we sold the company, there were eight of us literally living at the office, not only because we were working around the clock but because we were putting every dollar back into the company. Every dollar we spent on rent was money that could be spent on film, and it only took one film to give us our big break.
Did you have a mentor when you were younger that gave you a dose of inspiration?
I'm fortunate to have a couple of extraordinary mentors: Todd Wagner, Jason Calacanis and Elon Musk, who is a dear friend and mentor of mine. I met Jason through Elon and met Todd through friends. Those three guys taught me everything it took to get to this point. The thing they all have in common is passion and perseverance. Jason told me many times to pick myself up and try harder and do better. And I certainly got to watch Elon do that with the extraordinary work he's doing to change the world. And trust me, it takes a lot to change the world.
— By Chris Morris, special to CNBC.com