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Why ... Not that Las Vegas isn’t big enough for both of them. In 2013, Zappos CEO Tony Hsieh relocated his Amazon-owned shoe company to Las Vegas' downtown district, taking over the building that was once city hall in the rundown area north of the Strip. Tony shows how a very different kind of corporate culture is a powerful model for achieving success and happiness. "You sacrifice, and that's what I did."Get Make It newsletters delivered to your inboxA year earlier, Hsieh had launched the first half of his bet: the Downtown Project, a $350 million revitalization effort to turn the neighborhood into a mecca for entrepreneurs. This transformation includes the relocation of the Zappos offices from Henderson, Nevada to what was the old City Hall in downtown Las Vegas. DTP is a privately-funded, for-profit enterprise dedicated to helping revitalize part of downtown Las Vegas by investing in people and projects that share our vision of downtown as a hub of inspiration, entrepreneurial energy, creativity, innovation, prosperity, and discovery fueled by the Three C’s: collisions, co-learning, and connectedness. In 1954, Roger Bannister was the first to make history, but Hsieh noted others quickly followed suit until the four-minute mile became all but routine.It was an ambitious gamble — even by Vegas standards. Speaking at the Aspen Institute in the early days of the project, Hsieh compared the legacy he hoped his Downtown Project would have to the phenomenon of the four-minute mile.While Hsieh and the Downtown Project say they are done actively seeking to invest in entrepreneurs like Young, they plan to focus on the profitability of existing bets, as well as a "return on collisions."In 2013, Zappos CEO Tony Hsieh relocated his Amazon-owned shoe company to Las Vegas' downtown district, taking over the building that was once city hall in the rundown area north of the Strip.Hsieh's Downtown Project will turn 5 years old in January, and there are signs of progress.
"And I have the best example on the planet in Tony Hsieh."Hsieh told CNBC he's still invested in the project's success, but if he could go back, he'd do a few things differently.It's the chicken-and-egg dilemma of investing $50 million in downtown destinations like bars and restaurants to show would-be residents what downtown has to offer before having a place for them to move.She paid herself only what she needed to get by: $66 a day for about the first two years of Eat's existence."To see kids and families walking around in a place that was previously pretty dangerous, that's progress," Hsieh said, "and [I'm] pretty happy about that."Business owners independent of the project are moving into the neighborhood now famous for the project's outdoor Container Park, built from repurposed shipping containers and featuring a giant fire-breathing praying mantis that Hsieh adopted from Burning Man.Now Hsieh is a partner in her second venture, Chow, a fusion of fried chicken and Asian cuisine. Tony has remained as CEO of Zappos, which operates independently of Amazon, and continues to help build Zappos as a company dedicated to customer service, company culture, and community.Tony’s book, "Delivering Happiness", was published in 2010, and outlines his path from starting a worm farm to life at Zappos.
He then joined Zappos as an advisor and investor, and eventually became CEO, where he helped Zappos grow from almost no sales in 1999 to the multi-billion dollar company it is today. But more important to Young, it's her way of giving back to the community.Nearly five years into the project, results have been mixed.
Critics point to a less-than-robust tech scene, layoffs and shuttered businesses as major stumbling blocks, while others applaud the community's transformation.She launched an apprenticeship program for the at-risk youth of Las Vegas, Chow to the Core, offering mentorship and a chance to learn and find employment nearly four years after Hsieh took a chance on her.For years runners tried and failed to break the mark, which was long thought to not only be dangerous but impossible.
Why ... Not that Las Vegas isn’t big enough for both of them. In 2013, Zappos CEO Tony Hsieh relocated his Amazon-owned shoe company to Las Vegas' downtown district, taking over the building that was once city hall in the rundown area north of the Strip. Tony shows how a very different kind of corporate culture is a powerful model for achieving success and happiness. "You sacrifice, and that's what I did."Get Make It newsletters delivered to your inboxA year earlier, Hsieh had launched the first half of his bet: the Downtown Project, a $350 million revitalization effort to turn the neighborhood into a mecca for entrepreneurs. This transformation includes the relocation of the Zappos offices from Henderson, Nevada to what was the old City Hall in downtown Las Vegas. DTP is a privately-funded, for-profit enterprise dedicated to helping revitalize part of downtown Las Vegas by investing in people and projects that share our vision of downtown as a hub of inspiration, entrepreneurial energy, creativity, innovation, prosperity, and discovery fueled by the Three C’s: collisions, co-learning, and connectedness. In 1954, Roger Bannister was the first to make history, but Hsieh noted others quickly followed suit until the four-minute mile became all but routine.It was an ambitious gamble — even by Vegas standards. Speaking at the Aspen Institute in the early days of the project, Hsieh compared the legacy he hoped his Downtown Project would have to the phenomenon of the four-minute mile.While Hsieh and the Downtown Project say they are done actively seeking to invest in entrepreneurs like Young, they plan to focus on the profitability of existing bets, as well as a "return on collisions."In 2013, Zappos CEO Tony Hsieh relocated his Amazon-owned shoe company to Las Vegas' downtown district, taking over the building that was once city hall in the rundown area north of the Strip.Hsieh's Downtown Project will turn 5 years old in January, and there are signs of progress.
"And I have the best example on the planet in Tony Hsieh."Hsieh told CNBC he's still invested in the project's success, but if he could go back, he'd do a few things differently.It's the chicken-and-egg dilemma of investing $50 million in downtown destinations like bars and restaurants to show would-be residents what downtown has to offer before having a place for them to move.She paid herself only what she needed to get by: $66 a day for about the first two years of Eat's existence."To see kids and families walking around in a place that was previously pretty dangerous, that's progress," Hsieh said, "and [I'm] pretty happy about that."Business owners independent of the project are moving into the neighborhood now famous for the project's outdoor Container Park, built from repurposed shipping containers and featuring a giant fire-breathing praying mantis that Hsieh adopted from Burning Man.Now Hsieh is a partner in her second venture, Chow, a fusion of fried chicken and Asian cuisine. Tony has remained as CEO of Zappos, which operates independently of Amazon, and continues to help build Zappos as a company dedicated to customer service, company culture, and community.Tony’s book, "Delivering Happiness", was published in 2010, and outlines his path from starting a worm farm to life at Zappos.
He then joined Zappos as an advisor and investor, and eventually became CEO, where he helped Zappos grow from almost no sales in 1999 to the multi-billion dollar company it is today. But more important to Young, it's her way of giving back to the community.Nearly five years into the project, results have been mixed.
Critics point to a less-than-robust tech scene, layoffs and shuttered businesses as major stumbling blocks, while others applaud the community's transformation.She launched an apprenticeship program for the at-risk youth of Las Vegas, Chow to the Core, offering mentorship and a chance to learn and find employment nearly four years after Hsieh took a chance on her.For years runners tried and failed to break the mark, which was long thought to not only be dangerous but impossible.