So, as you’ve heard, Facebook has acquired Instagram for $1 Billion worth of cash, stock and PBR. That’s more than the New York Times is worth.

Since the announcement, the general conversation is this:

• Instagram isn’t worth $1 Billion since it has no revenue.
• Instagram is worth $1 Billion because it’s so much better than Facebook at photo sharing. See Robert Scoble’s arguments.
• I should start a company that Facebook would want to buy.

Let’s focus on that last one. I’ve ranted about this before, but to put it frankly, we’ve got bigger fish to fry. I mean that as a society.

I think it’s relatively safe to say that the photo-sharing problem has been solved. There’s 1001 real problems on this planet that have no solution.

So, I’m proposing something different. Before starting a business or joining a startup, ask yourself if that startup is solving a problem. And I don’t mean a “this photo could use more filters” problem. I mean a real, “this will actually make people’s lives better” problem.

Start the next Dollar Shave Club, not the next Instagram.

I’ll be at Startup Weekend Philadelphia on April 20th. I’ll help you start something real.