Brooklyn-based start-up Rap Genius is betting the world’s obsession with song lyrics will help it build an empire. The site’s co-founder, Ilan Zechory told CNBC, "We started this thing as a hobby, but now we really think we're going to be the biggest website in the world—bigger than Facebook, bigger than Google, even bigger than Yahoo and CNBC."

CNBC asked him to explain exactly how he'd pull that off in just 60 seconds, and he gave it a try in this video clip.