>How do you pick an idea (from the many) to follow?

Well to be totally honest, I just pick the one that I would most like to do that is still doable... The important thing is to stick to it once you've decided.

>How do you pick your team and hire?

I try to find people that I know, or people that I have heard of in some way. That way I know a little bit about their track record. It is really really hard though, and if I knew the perfect answer I would be writing best-sellimg management books :-)