Eye on AI Jack Selby on the Future of VC and AI - Thiel Capital, AZ-VC
Mar 16, 2025
Jack Selby, an American entrepreneur and venture capitalist, dives into the dynamic world of venture capital and AI. He shares his surprising entry into tech, revolutionizing payment systems with email's potential. Selby discusses the synergy between film and venture capital while highlighting Arizona's emerging tech landscape. He emphasizes the significance of teamwork and risk-taking in career growth and explores the resilience of entrepreneurs in less populated areas, painting an optimistic picture for the future of AI investments.
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PayPal's Origin
- Jack Selby met Peter Thiel in 1998 through a mutual friend, before attending UCLA for business school.
- Thiel's then-nascent concept, a precursor to PayPal, intrigued Selby enough to forgo his MBA.
PayPal's Pivots
- PayPal's initial concept was an offshore online bank, later pivoting to money transfers between Palm Pilots.
- A breakthrough came when they realized payments could be made via email, expanding their reach beyond Palm Pilot users.
Delegate and Multiply Time
- Delegate tasks effectively to multiply your time, a valuable lesson Selby learned from Peter Thiel.
- Find trustworthy, competent people and empower them, allowing you to focus on high-level strategy and growth.