Tony Hsieh

Tony Hsieh (1973-2020) was a visionary entrepreneur and investor best known for his role as the CEO of Zappos, which he grew into an e-commerce giant before its acquisition by Amazon for $1.2 billion in 2009. Beyond his success in online retail, Hsieh was a significant, unconventional investor through his ambitious Downtown Project (DTP) in Las Vegas. Launched in 2012, the DTP was a unique urban revitalization initiative that committed $350 million towards transforming a neglected urban core into a vibrant, community-driven entrepreneurial hub. This allocation included substantial funds for real estate, small businesses, and critically, $50 million specifically earmarked for tech startups.

Hsieh's investment philosophy, particularly through the DTP, diverged significantly from traditional venture capital. Rather than solely focusing on financial returns, his primary goal was to cultivate a thriving ecosystem in downtown Las Vegas, believing that a dense, walkable, and creatively stimulating environment would naturally foster innovation and business growth. Investments in tech startups were often part of a broader strategy to attract talent and companies to the area, contributing to the overall community fabric. These investments were typically early-stage, designed to provide foundational support to emerging companies willing to relocate or establish operations within the downtown core.

The DTP's approach meant that its investments were often smaller, seed-stage checks, aimed at nurturing a diverse portfolio of nascent ventures. While specific individual check sizes varied, the focus was on enabling a large number of promising startups to take root. This strategy reflected Hsieh's belief in the power of serendipitous collisions and community-driven innovation, where the collective success of many small ventures contributed to a larger, more resilient entrepreneurial landscape. His legacy as an investor is thus intertwined with his profound commitment to community building and urban development, making him a unique figure in the investment world.