THREAD
A thread on some fascinating insights from @wolfejosh co-founder of Lux Capital collected from multiple podcasts.
Link to the podcasts at the end of the thread.
A thread on some fascinating insights from @wolfejosh co-founder of Lux Capital collected from multiple podcasts.
Link to the podcasts at the end of the thread.
1/ On investment strategy:
The 100-0-100 strategy combining arrogance, humility and ambition
- 100% certain Lux will invest in future tech
-0% idea in what it will be
-100% certain that best investments will emerge from cutting edge of tech if one is curious and passionate
The 100-0-100 strategy combining arrogance, humility and ambition
- 100% certain Lux will invest in future tech
-0% idea in what it will be
-100% certain that best investments will emerge from cutting edge of tech if one is curious and passionate
2/ On technology and morality -
Technology increases our humanity. Invent technology so that people can find their genius.
Like the PC was an instrument for Bill Gates to show his genius and make the world better.
Technology increases our humanity. Invent technology so that people can find their genius.
Like the PC was an instrument for Bill Gates to show his genius and make the world better.
3/ On technology trends - a trend that shows technology is becoming more intimate with you and closer to your body.
The half life of technology intimacy.
Eg: 12 yrs ago laptops were dominant, 6 yrs ago (iPhone), 3 yrs ago (smart watch), 1.5 yrs ago (airpods)
The half life of technology intimacy.
Eg: 12 yrs ago laptops were dominant, 6 yrs ago (iPhone), 3 yrs ago (smart watch), 1.5 yrs ago (airpods)
4/ On winning and weighing arguments -
Find the normative thing and the objective truth of a situation and you can’t disagree with that unless you’re not seeing it clearly, or you’re lying to yourself
Find the normative thing and the objective truth of a situation and you can’t disagree with that unless you’re not seeing it clearly, or you’re lying to yourself
5/ On #investing
It's important to expose oneself to as many ideas and people as possible. Sharing your ideas with others is also critical.
Reading a wide variety of books is essential. The best investments are in areas where nobody is looking.
It's important to expose oneself to as many ideas and people as possible. Sharing your ideas with others is also critical.
Reading a wide variety of books is essential. The best investments are in areas where nobody is looking.
6/ On #SoftBank -
A ponzi scheme that creates assets on paper, increases paper valuation, uses these as collateral against indebtedness, report gains which are illiquid causing systemic risk in venture capital.
A ponzi scheme that creates assets on paper, increases paper valuation, uses these as collateral against indebtedness, report gains which are illiquid causing systemic risk in venture capital.
7/ Advice to a young graduate -
To build your brand, be differentiated, be indispensable, stay close to the money, find where the capital is flowing and stay close to it.
Be voracious in your reading.
To build your brand, be differentiated, be indispensable, stay close to the money, find where the capital is flowing and stay close to it.
Be voracious in your reading.
8/ Advice to older self -
You need to find a balance between having a chip on your shoulder and the ambition.
Be mindful that every relationship you have and every person at some point in the future they’re going to be a call option that you would not want to expire.
You need to find a balance between having a chip on your shoulder and the ambition.
Be mindful that every relationship you have and every person at some point in the future they’re going to be a call option that you would not want to expire.
9/ On failure -
Failure comes from a failure to imagine failure.
Always ask yourself
“What is everything that could possibly go wrong with this company, and how can I allocate time, resources, and money to prevent those bad things from happening?”
Failure comes from a failure to imagine failure.
Always ask yourself
“What is everything that could possibly go wrong with this company, and how can I allocate time, resources, and money to prevent those bad things from happening?”
10/ On risk -
The worst-case scenario often isn’t as bad as you think. Risk and value themselves are just changing form.
Every time you can kill a risk, subsequent value gets created like the first law of thermodynamics - energy is neither created nor destroyed.
The worst-case scenario often isn’t as bad as you think. Risk and value themselves are just changing form.
Every time you can kill a risk, subsequent value gets created like the first law of thermodynamics - energy is neither created nor destroyed.
11/ On digital -
The lines between physical and digital space are becoming blurred. Going from physical to digital and vice versa is becoming increasingly seamless.
Eg: 3D printing - people are designing things in bit space and quickly bringing them to life in real space.
The lines between physical and digital space are becoming blurred. Going from physical to digital and vice versa is becoming increasingly seamless.
Eg: 3D printing - people are designing things in bit space and quickly bringing them to life in real space.
12/ On storytelling and elements of a good story-
Storytelling is a crucial skill for leaders
The best stories are memorable, easy to repeat, make you feel smart and have a surprise ending.
A story on something specific while being unique results in engagement.
Storytelling is a crucial skill for leaders
The best stories are memorable, easy to repeat, make you feel smart and have a surprise ending.
A story on something specific while being unique results in engagement.
13/ On the role of a CEO
-nail down the strategy for the company
- deliver capital to pursue that strategy
- recruit people
-communicate extensively within and outside the company
- hold people accountable
END of the thread
-nail down the strategy for the company
- deliver capital to pursue that strategy
- recruit people
-communicate extensively within and outside the company
- hold people accountable
END of the thread
Link to podcast 3 - Invest Like The Best with @patrick_oshag
investorfieldguide.com/wolfe2/
investorfieldguide.com/wolfe/
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investorfieldguide.com/wolfe2/
investorfieldguide.com/wolfe/
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