Then, I was critical of his lack of development vision of this section.
True, I helped Tony buy (over pay for) some properties of Owner Clients of mine. AND, I failed to get Tony to buy other properties.
Yet, at that time, Tony was buying and sitting on properties. This made me wonder: why'd he buy them in the first place?
Did he run out of money?
Did he NOT have a plan?
Was he being represented by unscrupulous agents/attorneys, etc?
The answers to those, I will never know.
Here is the blog that I had written then.
Where Tony has Failed Blog
Now, Five years forward, it's time for me to admit I was wrong -- five years ago.
Tony has, on his schedule -- not mine, begun the re-development of this area.
Tony has brought in people who seem to now have his back when it comes to acquiring Downtown Las Vegas properties. (In other words, they now low ball like the others were doing years ago and flipping them to Tony!)
And, my clients have moved on to other properties where they are making returns that suit them.
Why do I have a change of attitude toward Tony Hsieh?
Tony developed the Fremont 9 Apartment property.
Tony financed the building of an event hall (with underground parking!).
Tony constructed a dog day care.
Tony holds an annual event called Life is Beautiful which was designed to get foot traffic into the downtown area.
Tony's original development was the Container Park. (I still think this isn't successful. But what do I know?)
Tony has bought or developed a lot of businesses; from motel properties, tavern properties and even a business that rent out fifth wheel vehicles/trailers to tourists so that they can come to Las Vegas , then get out of Las Vegas to visit/camp-out at one of the nearby National Parks, etc.
So, did my criticism of Tony have anything to do with this?
I now think Tony Hsieh knew exactly what he was doing. I am convinced Tony had a plan all along and he was smart enough to ignore his critics (like me).
(It's what you need to do to focus on your vision.)
I wish Tony all the best in his future endeavors!
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