Practical AI Jack Selby on the Future of VC and AI - Thiel Capital, AZ-VC
Mar 2, 2025
In this engaging discussion, Jack Selby, an American entrepreneur and venture capitalist, shares his insights into the future of venture capital and AI. He reflects on his unexpected journey into tech, the importance of relationships, and how calculated risks can lead to success. Selby highlights Arizona's unique advantages for startups and emphasizes the need for local investment and community support. He also discusses the challenges facing AI startups and the significance of prioritizing exceptional entrepreneurs in a rapidly evolving landscape.
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Joining PayPal
- Jack Selby met Peter Thiel in 1998 through a mutual friend, before starting business school.
- He joined Thiel's early-stage fintech startup as employee #11, foregoing his MBA plans.
PayPal's Pivots
- PayPal's initial concept was an offshore bank free from oversight, similar to crypto's ethos.
- They pivoted to beaming money between Palm Pilots, then discovered email as a scalable solution.
Delegation and Time
- Delegate tasks effectively to multiply your time, a crucial skill Jack Selby learned from Peter Thiel.
- Find trustworthy, competent people and empower them to handle responsibilities.