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Josh Wolfe (Lux Capital): Predictions on Emerging Technologies, AI, and the Future of VC

Josh Wolfe (Lux Capital): Predictions on Emerging Technologies, AI, and the Future of VC

24 segments available

Josh Wolfe, co-founder and managing partner at Lux Capital, is a master at quickly understanding complex, emerging technologies. In our conversation, Josh shared how he identifies the next big thing, his contrarian views on nuclear energy, biotech, and robotics, as well as his thoughts on the state of the venture capital market today. (00:00) Intro (01:02) Daily News Routine (05:28) Geopolitical Insights (07:03) Competitiveness and Curiosity (11:01) Investment Strategies and Risks (26:07) The Control Labs Story (33:48) The Founder’s Dilemma: Financial vs. Strategic Motivations (34:33) Geopolitical Concerns: Iran and Global Politics (36:31) Investments in Defense: Controversies and Convictions (37:36) The State of Society: Happiness and Social Dynamics (48:07) Artificial Intelligence: Trends and Predictions (01:02:22) The Future of Robotics: Beyond Humanoids (01:06:46) Ethical Implications of AI and Defense Technologies (01:11:29) Lux Capital’s Investment Strategy and LP Relations (01:12:43) ESG and Moral Impositions (01:13:30) Defense and Complex Moral Valences (01:14:19) Investment Ethics and Decision Making (01:16:46) Venture Capital Market Outlook (01:17:56) Challenges in Venture Capital (01:37:12) The Role of Storytelling in Venture Capital (01:43:20) Personal Reflections and Background (01:51:34) Partnership Dynamics and Trust (01:53:48) Conclusion and Final Thoughts Executive Producer: Rashad Assir Producer: Leah Clapper Mixing and editing: Justin Hrabovsky Check out Unsupervised Learning, Redpoint's AI Podcast: https://www.youtube.com/@UCUl-s_Vp-Kkk_XVyDylNwLA 🎙 Listen to the show Apple Podcasts: https://podcasts.apple.com/us/podcast/the-logan-bartlett-show/id1606770839 Spotify: https://open.spotify.com/show/5WqBqDb4br3LlyVrdqOYYb?si=3076e6c1b5c94d63&nd=1 Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9zb0hJZkhWbg 🎥 Subscribe on YouTube: https://www.youtube.com/channel/UCugS0jD5IAdoqzjaNYzns7w?sub_confirmation=1 Follow on Socials 📸 Instagram - https://www.instagram.com/theloganbartlettshow 🐦 Twitter - https://twitter.com/loganbartshow 🎬 Clips on TikTok - https://www.tiktok.com/@theloganbartlettshow About the Show Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode, Logan goes behind the scenes with world-class entrepreneurs and investors. If you're interested in the real inside baseball of tech, entrepreneurship, and start-up investing, tune in every Friday for new episodes.

Segments Timeline

1
0:00 - 1:02
1:01 duration222 words

Spotting Failures and Risks

Josh Wolfe shares his approach to identifying failures, risks, and underappreciated opportunities in the market. He discusses his daily routine of skimming through various news sources to understand the geopolitical landscape and the zeitgeist, emphasizing the importance of finding insights that others may overlook.

"just looking at the aggregate Capital there's going to be probably 5 or $600 billion doar that are destroyed welcome to Logan Bartlet show on this episode what you're going to hear is a conversation I..."

2
1:02 - 2:50
1:48 duration391 words

The Daily News Routine

Wolfe explains his daily news routine, which includes reading multiple international newspapers and using an app to gauge bias in reporting. He highlights the importance of understanding different perspectives and how this informs his investment strategies and insights into emerging technologies.

"Journal oh I read literally probably 22 papers so I use a app called press reader and I do USA Today New York Times ft um four different papers from the mid East uh uh one from India you do this every..."

3
2:50 - 5:28
2:38 duration558 words

Geopolitical Insights

In this segment, Wolfe discusses the geopolitical landscape, focusing on the Sahel region in Africa and the rise of violent extremism. He warns of the potential for instability that could affect Europe and emphasizes the need for awareness of these underreported issues.

"I was going through in prep for this uh it seems like you've kind of stopped tweeting to the same extent you used to no I just think that the things that I've tweeted about probably since October 7th ..."

4
5:28 - 7:03
1:35 duration289 words

Competitiveness and Curiosity

Wolfe reflects on his competitive nature and how it drives his curiosity to understand complex issues that others may not be paying attention to. He candidly admits that his pursuit of knowledge is fueled by a desire to be ahead of the curve and to have insights that others lack.

"what's the last interesting thing that you've seen or gone deep in when perusing those those uh newspapers oh uh let's see a newspaper headlines probably to me the most interesting thing which I think..."

5
7:03 - 11:01
3:58 duration978 words

Investment Strategies and Risks

Wolfe elaborates on his investment philosophy, contrasting his risk-averse approach with that of his co-founder. He discusses the importance of being emotionally prepared for failure and how understanding risks can lead to better investment decisions.

"benefit curiosity yes in that um the common threadline in this is trying to understand something that other people aren't looking it's it's born out of competitiveness it's it's not born in some virtu..."

6
11:01 - 26:07
15:06 duration3466 words

The Control Labs Story

Wolfe shares insights into Control Labs, a company he invested in that focuses on groundbreaking technology. He discusses the potential impact of their innovations and the importance of identifying transformative scientific breakthroughs in the biotech space.

"the on the investment side when you're thinking about like the nervous uh scientists with the uh the nervous bone growth or nervous system bone growth uh they're really nervous there are grow anxiety ..."

7
26:07 - 33:48
7:41 duration1661 words

The Founder’s Dilemma

In this segment, Wolfe addresses the challenges founders face when balancing financial motivations with strategic goals. He explores the complexities of decision-making in startups and how these dilemmas can shape the trajectory of a company.

"the latter um I'll give you another example related to like X-Men which where we actually created a company but in some cases I actually manag imagine the postmortem not of the company failing but of ..."

8
33:48 - 34:33
0:45 duration168 words

Geopolitical Concerns: Iran and Global Politics

Wolfe discusses the geopolitical implications of Iran's actions and how they affect global politics. He emphasizes the interconnectedness of international relations and the importance of staying informed about these developments.

"and in the slope of the line I'm sure you've experienced this with other sales as well but the difference between $95 million and $500 million is not one that you'll ever probably experience and so so..."

9
34:33 - 36:31
1:58 duration398 words

Investments in Defense

Wolfe shares his views on investing in defense technologies, discussing the controversies and convictions surrounding this sector. He highlights the moral complexities involved in funding defense initiatives and the implications for society.

"come back to some of the investment themes and stuff but before we get off the point of uh geopolitical or some some of the very high level stuff are you is there anything else outside of the Wagner g..."

10
36:31 - 37:36
1:05 duration203 words

The State of Society

Wolfe reflects on societal happiness and social dynamics, discussing how these factors influence investment decisions and the broader implications for society as a whole.

"made our first two investments in defense in Israel which um you know they'll be publicly announced um one probably I think as leaked in the next few months one probably not for a while but um that wa..."

11
37:36 - 48:07
10:31 duration2283 words

Artificial Intelligence: Trends and Predictions

Wolfe shares his insights on the current trends in artificial intelligence and makes predictions about its future impact on various industries. He discusses the transformative potential of AI and the ethical considerations that come with its advancement.

"talked about you you mentioned Iran and the general um indifference maybe that a lot of the country feels towards Global political stuff in in general and I think you're seeing a rhetoric about Ukrain..."

12
48:07 - 1:02:22
14:15 duration3157 words

The Future of Robotics

In this segment, Wolfe discusses the future of robotics, emphasizing the need to look beyond humanoid robots. He explores the potential applications of robotics in various fields and the innovations that are shaping this industry.

"are something of an expert in that area you've been spending time in it for a while you're at least uh you know we were early you go on odd lucky Odd Lots brings you on as an AI expert I guess uh uh a..."

13
1:02:22 - 1:06:46
4:24 duration931 words

Ethical Implications of AI and Defense Technologies

Wolfe delves into the ethical implications of AI and defense technologies, discussing the moral responsibilities of investors and companies in this space. He emphasizes the need for thoughtful consideration of the societal impact of these technologies.

"touched on physical intelligence um this similarly partially spun out of googly partially the most brilliant team out of Stanford and we've seen a lot of things from robotics I have a personal view be..."

14
1:06:46 - 1:11:29
4:43 duration898 words

Lux Capital’s Investment Strategy

Wolfe outlines Lux Capital's investment strategy and the importance of maintaining strong relationships with limited partners. He discusses how these relationships influence investment decisions and the overall direction of the firm.

"of AI uh how do you think about some of the ethical implications of artificial intelligence and I don't things around genetic engineering or um yeah some of the so social impact that could come with s..."

15
1:11:29 - 1:12:43
1:14 duration232 words

ESG and Moral Impositions

Wolfe addresses the topic of Environmental, Social, and Governance (ESG) criteria and the moral impositions that come with it. He discusses the challenges investors face in balancing ethical considerations with financial returns.

"great as as your strategy has evolved over the course of the last when was Lux founded 20 plus years ago 20 plus years ago and the most recent fund was how big billion two billion two uh I assume your..."

16
1:12:43 - 1:13:30
0:47 duration172 words

Defense and Complex Moral Valences

In this segment, Wolfe explores the complex moral valences associated with defense investments. He discusses the ethical dilemmas investors encounter and the broader implications for society.

"think that elements of ESG aren't Pro social and positive but um it's the same thing like I've been asked to sign um uh um uh you know surveys or or um um not protest letters what are they called when..."

17
1:13:30 - 1:14:19
0:49 duration139 words

Investment Ethics and Decision Making

Wolfe shares his thoughts on investment ethics and the decision-making process involved in venture capital. He emphasizes the importance of aligning investments with personal and societal values.

"these queries about ESG do consider defense ESG because I can tell you that if Ukraine had nuclear weapons that the environmental and humanitarian catastrophe not only that happened there but that has..."

18
1:14:19 - 1:16:46
2:27 duration489 words

Venture Capital Market Outlook

Wolfe provides an outlook on the venture capital market, discussing current trends and challenges. He shares his insights on how the market is evolving and what investors should be aware of.

"felt uncomfortable with or we would not fund um we wouldn't have been investors in Jewel and where you stood on that issue I realize depending on where you sat on the cap table and there are people th..."

19
1:16:46 - 1:17:56
1:10 duration203 words

Challenges in Venture Capital

Wolfe discusses the challenges facing venture capitalists today, including market volatility and the need for adaptability. He emphasizes the importance of understanding these challenges to make informed investment decisions.

"world uh touching on Venture Capital today what's your perspective on the state of the Venture Market it's going to contract significantly if you look at the amount of capital raised over the past two..."

20
1:17:56 - 1:37:12
19:16 duration4040 words

The Role of Storytelling in Venture Capital

Wolfe highlights the significance of storytelling in venture capital, discussing how compelling narratives can influence investment decisions. He shares examples of how effective storytelling can shape perceptions of startups.

"partners that were smart and again what the wi do in the beginning the fool does in the end overallocated to the asset class funding emerging managers funding small you know I've sort of bifurcated th..."

21
1:37:12 - 1:43:20
6:08 duration1213 words

Personal Reflections and Background

Wolfe shares personal reflections on his background and experiences that have shaped his perspective as an investor. He discusses the importance of understanding one's own journey in the context of venture capital.

"Storytelling uh and I know you're a I don't know if it's a you uniquely appreciate storytelling and narratives and uh in some ways I'm curious how how uh your your cynical side or your lack of trust i..."

22
1:43:20 - 1:51:34
8:14 duration1765 words

Partnership Dynamics and Trust

Wolfe discusses the dynamics of partnerships in venture capital, emphasizing the importance of trust and collaboration. He shares insights on how to build and maintain strong partnerships in the industry.

"think that's a manifestation of of circumstances of growing up Coney Island and you talked about being uh in a four-person household with your grandmother and or grandparents and and uh mother as well..."

23
1:51:34 - 1:53:48
2:14 duration520 words

Conclusion and Final Thoughts

In the concluding segment, Wolfe shares his final thoughts on the future of venture capital and emerging technologies. He reflects on the key takeaways from the conversation and the importance of staying informed in a rapidly changing landscape.

"want to go into the the partnership Dynamics and uh and I I know you Pete and I have been talking for a while about doing something on Lux and and your guys relationship and all that so maybe the next..."

24
1:53:44 - 1:54:09
0:25 duration82 words

Closing Thoughts

In the conclusion of the episode, Josh reflects on the insights shared throughout the conversation. He encourages listeners to subscribe and engage with the content, emphasizing the importance of sharing knowledge and experiences. This segment serves as a wrap-up of the discussion, inviting the audience to continue exploring the themes presented.

"awesome to be with you man thank you for joining this episode of the Logan bartett show with co-founder managing partner of Lux Capital Josh Wolf if you enjoyed this discussion appreciate it if you su..."