We Study Billionaires - The Investor’s Podcast Network TIP485: Market Updates, Ray Dalio Retiring, Elon Buying Twitter and Elemental Power w/ Josh Wolfe
18 snips
Oct 21, 2022 
Josh Wolfe, Co-founder of Lux Capital, dives into the chaotic state of current markets, suggesting we may be at an Entropic Apex. He discusses the need for peace through strength and his support for a defense startup. Wolfe also champions rebranding sustainable energy as Elemental Power, emphasizing the role of nuclear energy. He shares his entrepreneurial journey and critiques of Elon Musk's Twitter acquisition, while also highlighting his innovative pursuit of digitizing scents. It's a whirlwind of investment insights and groundbreaking ideas!
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Entropic Apex
- Josh Wolfe believes the current market environment is at an "entropic apex," meaning peak disorder.
- This follows a period of order and predictability, where markets rose and assumptions about low rates and stability prevailed.
Underappreciated Risks
- Wolfe identifies climate change, geopolitical instability (specifically in the Sahel and Maghreb regions of Africa), and emerging markets as key risks.
- He highlights the potential for cascading events and hidden leverage within the economy.
Biotech Bubble Burst
- Many biotech companies are overextended, with limited cash and negative enterprise value, similar to the dot-com bubble.
- Wolfe predicts consolidation through mergers and acquisitions, with well-capitalized firms absorbing distressed companies.
