Thiel Capital's Jack Selby nabs stakes in hot startups like Etched through Arizona connections
News Source
β’Thu, 02 Jul 2026 21:57:10 +0000
π° What Happened
Jack Selby, a former PayPal executive and Thiel Capital managing director, has been investing in hot startups through his Arizona connections. His firm Copper Sky Capital got an early stake in Etched, an Nvidia competitor valued at $5 billion. Selby helped Etched by promising to move its chip production to Arizona's TSMC factory. Copper Sky's first $115 million fund focused on startups in Arizona and the Southwest. Selby believes startups outside of California are cheaper and offer better value.
π The Backstory
Most venture capital money flows to startups in California, New York, and Massachusetts. These places have the highest startup valuations and the most competition. Jack Selby's strategy is different. He invests in companies that are based in or willing to move production to Arizona. As a board member of the Arizona Commerce Authority, he helps bring business to the state. TSMC, the world's biggest chip maker, is building a major factory in Arizona. This creates new opportunities for hardware startups to make their products in the US instead of Asia.
π― Why It Matters
Making computer chips in America instead of Taiwan could make supply chains safer. It also brings high-tech jobs to places like Arizona that need them.
Jack Selby, a former PayPal executive and Thiel Capital managing director, has been investing in hot startups through his Arizona connections. His firm Copper Sky Capital got an early stake in Etched, an Nvidia competitor valued at $5 billion. Selby helped Etched by promising to move its chip production to Arizona's TSMC factory. Copper Sky's first $115 million fund focused on startups in Arizona and the Southwest. Selby believes startups outside of California are cheaper and offer better value.
Most venture capital money flows to startups in California, New York, and Massachusetts. These places have the highest startup valuations and the most competition. Jack Selby's strategy is different. He invests in companies that are based in or willing to move production to Arizona. As a board member of the Arizona Commerce Authority, he helps bring business to the state. TSMC, the world's biggest chip maker, is building a major factory in Arizona. This creates new opportunities for hardware startups to make their products in the US instead of Asia.
Making computer chips in America instead of Taiwan could make supply chains safer. It also brings high-tech jobs to places like Arizona that need them.