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Strategies in investing in frontiers of technology are discussed. The guest's approach to investing involves building a comprehensive understanding of different industries to position investments effectively. Concepts such as business model innovation, the role of a CEO, and human progress are explored within the mosaic that informs investment decisions.
The conversation delves into humanity's capability to address large-scale challenges. Views on leveraging low capital costs to expedite projects and the contrasting approaches between state-driven initiatives like in China and vision-driven efforts like those led by entrepreneurs such as Elon Musk are highlighted.
The checklist for effective CEOs includes aspects such as defining a clear company strategy, securing necessary capital, building and motivating a talented team, effective communication internally and externally, and ensuring accountability within the organization. The importance of storytelling, strategic vision, team-building, and communication skills for CEOs is emphasized.
The moral aspects of technological innovation, especially in sectors like military technology development, are examined. The podcast delves into the ethical implications of funding companies working on potentially controversial technologies. It raises questions about the responsibility and impact of investing in areas such as robotic surgery, gene editing, and other cutting-edge advancements.
Advancements in technology are becoming increasingly intimate, evolving from large computers in the past to more personal and portable devices like phones and smartwatches. This progression towards technology becoming more integrated into our daily lives is exemplified by innovations like wrist straps that can control devices through thought, highlighting a shift towards seamless interaction and control.
The discussion delves into the evolving landscape of privacy and the challenge of determining the authenticity of digital content. The concept of veracity detection in digital media is emphasized as a valuable skill, considering the rise of manipulated content and the need to differentiate between real and fake information. The narrative explores the potential applications of blockchain technology and creative analog methods for verifying the credibility of content, reflecting on the importance of maintaining trust in a digital age.
My guest this week is Josh Wolfe, co-founder and managing partner at Lux Capital. I had Josh on the podcast last year which was one of the most popular episodes in the shows history. This is a continuation of our ongoing conversation about investing in the frontiers of technology. My favorite thing about Josh and the way that he invests is the mosaic that he and his team at Lux are constantly building to understand the world and where new companies may fit in. We cover a crazy variety of topics from business model innovation, roles of a CEO, the military, the death of privacy, and arrows of human progress. Please enjoy round two with Josh Wolfe.
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
Follow Patrick on Twitter at @patrick_oshag
Show Notes
1:22 - (First Question) –Ability to tackle massive scale problems
4:05 – Key roles of leaders and his checklist for evaluating them
5:55 – Common traits among founders that make them incredible storytellers and leaders
10:22 – The concept of ill-liquidity
14:53 – Thoughts on the types of companies going public
16:41 – Most innovative business models
19:14 - Advice for LP’s
23:51 – Common devil
24:01 – The True Believer: Thoughts on the Nature of Mass Movements
25:09 – Big internal debates at his firm, starting with price discipline
28:45 – The value debate internally
33:34 – CRISPR from an investment standpoint
36:50 – Edge cases they are looking at
46:52 – How they target ideas in a single concept
50:01 – The Coast of Utopia: Voyage, Shipwreck, Salvage
51:04 – New theses that they chase
56:31 – Recent adventure with special operations guys
Learn More
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
Follow Patrick on twitter at @patrick_oshag
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Listen to the best highlights from the podcasts you love and dive into the full episode