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Jack Selby of Thiel Capital is using a new VC fund to invest in Arizona startups

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Summary

Jack Selby is using a new VC fund, AZ-VC, to invest in Arizona startups. The fund is backed by a number of real-estate outfits in Arizona, along with a major local utility company. Selby is the longtime managing director of Thiel Capital and has a close relationship with Peter Thiel. Selby plans to use the fund as a jumping-off point for regional politics.

Q&As

What is Jack Selby's background?
Jack Selby is a former PayPal exec and the longtime managing director of Thiel Capital.

How did Selby come to Arizona?
Selby moved to Arizona in 2002.

What is the focus of Selby's new venture fund?
Selby's new venture fund, called AZ-VC, is focused on investing in Arizona startups.

Why is a utility company investing in the fund?
The utility company is investing in the fund in order to help diversify the economy and build up the technology sector within Arizona.

What is Selby's relationship with Peter Thiel?
Selby has worked with Peter Thiel since 1999 and is loyal to him.

AI Comments

👍 Jack Selby is using a new VC fund to invest in Arizona startups. This is a great way to help diversify the economy and build up the technology sector in Arizona.

👎 Jack Selby is using a new VC fund to invest in Arizona startups. This is a terrible idea because Arizona has been the poster child for the boom and bust because we don’t have much diversification in terms of industry.

AI Discussion

Me: Jack Selby of Thiel Capital is using a new VC fund to invest in Arizona startups.

Friend: That's interesting. I didn't know that Thiel Capital was investing in Arizona startups.

Me: Yeah, I guess Selby has been living in Arizona for a while and he wants to invest in his adopted state.

Friend: That makes sense. I wonder if Thiel Capital will invest in any other regional startups.

Me: I'm not sure. The article doesn't really say. But it would make sense if they did since Selby is already familiar with the area.

Action items

Move to Arizona
Invest in Arizona startups
Work with Peter Thiel

Technical terms

VC: venture capital
LP: limited partner
AZ-VC: Selby's new venture fund