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Jack Selby

Managing Director, Thiel Capital

Joined PayPal as an original employee, led international operations, and co-founded Clarium Capital with Peter Thiel.

Real Alpha has cut 6 moments of Jack Selby (Managing Director, Thiel Capital) talking, from an interview on How I Invest published Nov 4, 2026.

What Jack Selby said

  1. How I Invest ·

    Peter Thiel's 27-Year Partner on the AI Bubble, the Venture Capital Crisis, and the PayPal Mafia

    6 moments · 23 min

    1. 32:21

      Cheap capital left venture with zombie funds

      “the industry has done a poor job of returning capital to its investors over the last decade.”
      at 32:47
    2. 42:27

      AI can produce strong returns without trillion-dollar exits

      “AI enables companies to be built much more cheaply, achieve revenue much more quickly, get to good outcomes much more quickly”
      at 44:28
    3. 18:36

      Lower entry prices change the venture return math

      “my math is very, very, very different because my entry point is so much less expensive.”
      at 19:38
    4. 6:48

      Silicon Valley's edge is capital access, not scarce talent

      “It is not a human capital network effect. There are plenty of smart people that live in these other places.”
      at 10:20
    5. 38:46

      Mega-funds and early-stage funds need separate benchmarks

      “I think the mega funds are a different asset class. I'm not saying they're better or worse. They're just in a different bucket.”
      at 40:13
    6. 45:31

      He screens local founders for venture-scale ambition

      “I have to make sure that my entrepreneurs are sufficiently grandiose when they take my money.”
      at 46:28

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