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EP05 Josh Wolfe

EP05 Josh Wolfe

34 segments available

Josh Wolfe (Co-Founder, Lux Capital) – Investing in the Impossible YouTube & Spotify Description: What if the best investments sound crazy at first? Josh Wolfe, co-founder of Lux Capital, breaks down why he bets on frontier tech—AI, deep science, and the next wave of world-changing innovation. From navigating venture downturns to spotting the future before it happens, this episode is a goldmine for founders and investors alike. 🔹 How Lux Capital invests in the future 🔹 The mindset of a contrarian investor 🔹 Where AI, biotech & deep tech are headed next 🎧 Hit play for a crash course in bold investing.

Segments Timeline

1
0:00 - 0:12
0:12 duration28 words

Welcome to the Human Unicorn Podcast

Nahal introduces the Human Unicorn Podcast, where he interviews individuals at their peak potential. This episode features Josh Wolfe, co-founder of Lux Capital, who shares insights on investing in frontier technology and the mindset of a contrarian investor.

"Uh, hey guys. I'm Nahal. Welcome to the human unicorn podcast. Uh, where I'm extremely lucky to interview folks and friends uh, building at their peak potential. [Music]"

2
0:12 - 1:00
0:48 duration142 words

Skiing Adventures and Entrepreneurial Spirit

Josh and Nahal discuss their skiing experiences, highlighting the differences between East Coast and West Coast skiing. Josh humorously reflects on the challenges of skiing and how it parallels the fearless nature of founders and entrepreneurs.

"[Music] Uh, speaking of peaks um, I just came back from a little ski trip. Um, do you ski or snowboard? board. Have you ever skied or not? Yeah I started when I was young skiing. Yeah we learned on th..."

3
1:00 - 2:03
1:02 duration206 words

Defining Moments from Childhood

Josh shares his childhood story, including the impact of his parents' split and his experiences in a small desert town. He reflects on how these experiences shaped his drive and determination, leading to his success as an investor.

"Um, you board or you ski? I I'm a much better skier. Um, and by better, I mean I can probably I can go down anything right? We're we're fearless as founders and entrepreneurs. Um, my form just blows...."

4
2:03 - 3:20
1:16 duration283 words

Chips on Shoulders: The Fuel for Founders

Josh discusses the common trait among successful founders: having something to prove. He cites examples of well-known figures like Steve Jobs and Oprah Winfrey, emphasizing how their struggles fueled their success and the importance of disaffected individuals in driving innovation.

"know, uh born in Cali, raised in Coney Island, Brooklyn, parents split when I was super young, which for me actually became a defining thing in my life because my father was not present in my life. Um..."

5
3:20 - 4:10
0:50 duration183 words

The Perennial Fire Inside Founders

Josh elaborates on the relentless drive of successful individuals, using Palmer Luckey as an example. He argues that the desire to prove oneself, regardless of fame or wealth, is a crucial motivator for innovation and success.

"sort of debate a little bit cynically and pjoratively to my west coast partners mindfulness and meditation and all the stuff which is good for the individual is terrible for society because you want l..."

6
4:10 - 5:00
0:50 duration186 words

From Humble Beginnings to Aspirations

Josh reflects on his upbringing, expressing envy for those with wealth and stability. He shares how his experiences shaped his aspirations for a better life and the desire to create a stable family environment.

"inside of them keeps burning. I love that. So, I had that for a variety of reasons. Y father wasn't present. grew up no money, mom was a school teacher full of you know absolute sacrifice and commitme..."

7
5:00 - 6:29
1:28 duration386 words

Navigating Career Paths and Networking

Josh recounts his journey from college to securing internships on Wall Street. He emphasizes the importance of networking and the unexpected connections that can lead to significant opportunities in one's career.

"at Grand Army Plaza. Um it was a like a like a gold brown color and then we had a a dark blue silvery kind of What are you driving now? So So it's funny because my wife is is also she's successful and..."

8
6:29 - 7:40
1:11 duration285 words

The Role of Randomness and Optionality

Josh discusses the concept of randomness and optionality in life and career. He explains how seemingly random encounters can lead to transformative opportunities, stressing the need to be alert and ready to seize them.

"And a guy calls me. He's like "Congratulations. Remember, gray beautiful car." He's like "Congratulations on your black Bronco Raptor." I'm like, "It's great." He's like "Yeah, yeah, your wife said yo..."

9
7:40 - 9:25
1:45 duration418 words

Investment Banking and Early Career Lessons

Josh shares his experience in investment banking at Smith Barney, reflecting on the lessons learned and the importance of connections in advancing his career. He highlights the value of humanity and relationships in professional success.

"see entrepreneurs people that have that hustle that grit and like just like that hard charging thing that's energy you want to channel not you know deter. Mhm. So I ended up meeting this guy um betwee..."

10
9:14 - 10:34
1:20 duration347 words

Finding the Unseen Opportunities

Wolfe explains his journey into investment banking and his fascination with nanotechnology and advanced materials. He describes his approach to identifying opportunities that others overlook, driven by a competitive desire to be ahead of the curve in emerging fields.

"Mhm. But um there were a bunch of sort of random circumstances like that. I end up graduating. I go into investment banking against Alma Smith Barney and um I'm in real estate and lodging. It wasn't t..."

11
10:34 - 11:06
0:31 duration143 words

The Birth of Lux Capital

This segment covers the founding of Lux Capital, where Wolfe and his co-founder sought to raise funds for their venture. He humorously recounts the challenges they faced in securing investments and the pivotal introduction to Bill Conway, which would change the trajectory of their firm.

"probability high magnitude possibilities and this was one. So we decided we're going to start a venture for me and a guy Peter Abear who was at Lehman Brothers. I knew him from from he went to Syracus..."

12
11:06 - 12:20
1:14 duration320 words

Seizing the Moment with Bill Conway

Wolfe recounts a crucial meeting with Bill Conway, where he pitched the idea of investing in physical material sciences. He reflects on the significance of timing and circumstances in that meeting, which led to Conway becoming an early investor and supporter of Lux Capital.

"billions of dollars and again randomness and optionality. We go down to Washington DC where Carlile was situated and they were notable because they had a lot of luminaries from government and defense ..."

13
12:20 - 13:07
0:47 duration185 words

The Impact of Belief in Others

In this heartfelt segment, Wolfe discusses the importance of belief and support from others in achieving success. He shares how Conway's faith in him and his team has had a lasting impact, emphasizing the powerful role of encouragement in both personal and professional growth.

"building at Lux. Incredible. So Bill was one of your first breaks. Yes. Yeah. That's amazing. And and to this day, you know, this is like now 25 years later. I just texted him 2 days ago just thinking..."

14
13:07 - 14:00
0:52 duration193 words

From Small Beginnings to Major Success

Wolfe reflects on the growth of Lux Capital from its modest beginnings with a $6 million fund to managing billions today. He highlights the journey of building the firm and the lessons learned along the way, showcasing the evolution of their investment strategy.

"And what's total AUM? And five and a half. Yeah. Five and a half total. AUM. Incredible. Started from Start from the bottom. Now you're here. Start from the bottom. Yeah. Beautiful. Um, and by the way..."

15
14:00 - 15:00
0:59 duration201 words

The Importance of Remembering Rejections

In this segment, Wolfe shares his competitive mindset and how he keeps track of those who rejected him. He draws parallels to Kobe Bryant's mentality, emphasizing that remembering past rejections can fuel determination and drive in the pursuit of success.

"ENIAC. I remember our very first break. Um, you had Bill Conway with a guy named Jim Jim Palada. I know. And it was on uh I remember the day before my birthday April 21st, 2010. We were just thinking ..."

16
15:00 - 15:31
0:31 duration139 words

Connecting with Innovators

Wolfe recounts his introduction to Palmer Luckey through Trey Stevens, highlighting the importance of networking and relationships in the venture capital world. He expresses his eagerness to invest in innovative companies and the serendipity involved in these connections.

"were at Balthazar call it brunch brunch at Balthazar in Soho and Trey is I think one of the highest EQ partners at Founders Fund. Everybody there is brilliant and we do a lot of deals with them and we..."

17
15:31 - 16:47
1:16 duration226 words

AI's Impact on the Workforce

Wolfe shares his insights on the potential effects of AI on various job sectors. He argues that blue-collar workers may actually benefit from AI advancements, contrasting with the common belief that technology primarily threatens white-collar jobs. He uses historical examples to support his perspective.

"investors. It's amazing. It's the hottest uh probably one of the hottest companies today, I So, um you can't even get a secondary. Yeah, it's it's it's crazy. Congrats. Um what um what happens to huma..."

18
16:31 - 17:28
0:56 duration208 words

Democratization of Skills

In this segment, Wolfe explores how AI democratizes access to skills that were once costly to acquire. He emphasizes that technology enables more people to excel in areas like writing and music production, leveling the playing field for creativity and innovation.

"even if you go back to like ATMs, you know, there's study from uh David Aur at MIT who was like the advent of ATMs did not kill bank tellers. People thought it would. There's more bank tellers today t..."

19
17:29 - 18:44
1:14 duration275 words

The Moral Imperative of Content Creation

Wolfe argues for a moral imperative to engage with AI and produce content, suggesting that individuals should contribute to the digital landscape to influence AI training. He contrasts this with those who prioritize privacy, discussing the implications for legacy and societal impact.

"doing incredible special effects before you needed these crazy Hollywood studio packages, now with your iPhone and some basic stuff on like, you know, um your your Apple, you can do that. Same thing w..."

20
18:45 - 20:49
2:03 duration414 words

The Future of Information Economy

Wolfe envisions a future where AI creates a marketplace for information, allowing individuals to monetize their private data. He discusses the potential for AI to connect people and unlock proprietary data, leading to new commercial opportunities and a transformed information economy.

"on you. The flip side of that is I sort of visually imagine this as like a Marvel superhero with these uh polygons like attaching to you and sort of form fitting like a like a like a uniform. And if I..."

21
20:50 - 22:11
1:21 duration303 words

Teaching Kids Technology

Wolfe shares insights on teaching children to embrace technology as a language. He recounts a personal story about his son using AI tools creatively, emphasizing the importance of familiarity with technology for future competitiveness and success.

"new architecture of the way that I think AI is going to be connecting people that is a little bit crazy. Yeah, that's awesome. It's a whole new kind of information economy in the sense of everybody ha..."

22
22:12 - 24:10
1:58 duration467 words

Navigating Parenting and Beliefs

In this segment, Wolfe reflects on his approach to parenting, particularly regarding beliefs like Santa Claus. He discusses the balance between honesty and preserving childhood wonder, illustrating the complexities of raising children in a digital age where AI can provide answers.

"knows how to use Chachi PT. He knows how to use MidJourney. He can conjure images. It's a way to express creativity that he doesn't have to be able to draw. Last night he's like, "Dad, can I use Sunno..."

23
24:06 - 25:01
0:54 duration186 words

Being Present: A Father's Commitment

Josh Wolfe talks about the significance of being a present father and the impact it has on his children. He shares his commitment to attending every important event in their lives, emphasizing that children remember the moments when parents are absent. This segment highlights the emotional weight of parental presence and the long-term effects it has on family relationships.

"and, they're, going to, be, advantaged, over the kids who aren't. Yeah. And being a competitive person and wanting competitive kids, it's a language they got to learn. Now, you started uh this convers..."

24
25:01 - 26:25
1:24 duration292 words

Legacy and Regrets: A Father's Reflection

Wolfe reflects on the legacy he wants to leave for his children, contrasting his experiences with those of famous figures like Steve Jobs. He discusses the importance of resolving conflicts and ensuring that his children feel loved and supported. This segment delves into the emotional complexities of fatherhood and the desire to avoid regrets in familial relationships.

"like Steve Jobs, you know, celebrated by the world. Hundreds of millions of people love him. What a shitty father. But the people that were closest to him and I don't know this, I just know from repor..."

25
26:25 - 27:10
0:45 duration172 words

Instilling Humility in Privilege

In this segment, Josh addresses the challenge of raising children in privilege while instilling humility. He shares his strategies for helping his kids understand the value of hard work and the importance of empathy. Wolfe's insights reveal the delicate balance of parenting in a fortunate environment and the lessons he aims to impart to his children.

"Right. So even with my own father I have a civil relationship because I don't want to have any regrets. he passes like we've set our peace and and all that. So for me being a very present father, they..."

26
27:10 - 28:00
0:50 duration188 words

The Importance of Time Over Quality

Josh discusses the concept of quality time versus quantity of time spent with children. He shares advice from a mentor about the value of simply being present in their lives. This segment emphasizes the importance of dedicating time to family and the impact it has on building strong relationships.

"can remind them of this and we do things where they experience the contrast. We'll go to soup kitchens and we'll volunteer. And there are these very emotional moments where they're like "Holy shit." L..."

27
28:00 - 29:03
1:02 duration214 words

Preparing Kids for Independence

Wolfe talks about the importance of preparing his children for independence and responsibility. He shares his thoughts on fostering resilience and agency in his kids, ensuring they can navigate life confidently. This segment highlights the proactive approach he takes in parenting to equip his children for the future.

"it now is is spending uh more quality time with quality people. And it's just those environments where you know you're you're at a location with somebody, you just you put your phone away and you're j..."

28
29:03 - 30:02
0:59 duration237 words

Navigating Friendships and Influences

In this segment, Josh discusses the role of friendships in shaping children's lives. He emphasizes the importance of guiding children towards positive influences and away from negative ones. Wolfe's insights reflect the challenges parents face in managing their children's social circles and the impact of peer relationships on development.

"a very young age. But I agree with you on the connecting with people. Nothing wrong with quality time with quality people. Right. And that second qualify I think is important because the number one th..."

29
30:02 - 31:02
1:00 duration186 words

Finding Purpose: A Personal Journey

Josh reflects on his purpose in life, discussing his competitive nature and the lack of a higher calling. He shares his thoughts on personal drive and the pursuit of success without a grand mission. This segment provides insight into Wolfe's mindset as an investor and individual, revealing his pragmatic approach to life.

"here's a money question for you. Uh why are you on this planet? I I don't know. I I I mean like I'm very biological, evolutionary literal about this. I'm on this planet because my mother and my father..."

30
31:02 - 32:05
1:02 duration216 words

The Competitive Reader

In this final segment, Josh shares his passion for reading and how it fuels his competitive spirit. He discusses his reading habits, preferences for non-fiction, and the value he finds in dense fiction. Wolfe's insights into reading reflect his desire for knowledge and understanding, showcasing how it informs his approach to investing and life.

"uh how often and what every day everything I'm I'm obsessive competitive and and again um it's not some virtuous thing of like I want to be well read and knowledgeable it's like if you know something ..."

31
31:40 - 32:58
1:18 duration228 words

The Power of Fiction

Exploring the value of fiction, Wolfe explains how dense, well-written narratives can provide deeper psychological insights than non-fiction. He draws parallels between literature and the dynamics of entrepreneurship, emphasizing the importance of understanding human behavior.

"interestingly I used to almost always read non-fiction science books technology books biographies because I thought it was really practical and whatever my wife actually got me first with a book calle..."

32
32:58 - 34:42
1:43 duration372 words

The Game of Investing

Wolfe expresses his passion for the competitive nature of investing, sharing anecdotes about recent deals and the thrill of winning. He reflects on the intellectual stimulation and financial rewards that come from navigating the venture capital landscape.

"that. And I think when you really think about what our job is, believing in entrepreneurs, but also deciding if you're going to believe and whether they're full of or they're just naive and ambitious ..."

33
34:42 - 36:01
1:19 duration277 words

Balancing Family and Work

Discussing his personal life, Wolfe shares insights into his relationship with his wife and their approach to family. He emphasizes the importance of shared values and spending quality time together, while also navigating the challenges of their demanding careers.

"the rest of my life. you and Lauren. Um, you know, as as we mentioned, we we married up. Um, we are there, you know unpaid interns in the in the household. Um, how do you guys make it work? We both ca..."

34
36:01 - 38:23
2:22 duration467 words

Finding Your Edge as a Founder

Wolfe offers advice to aspiring founders, stressing the importance of identifying and leaning into their unique competitive edge. He encourages authenticity and embracing personal struggles as a source of strength in the entrepreneurial journey.

"and trust and share our values. And I see all these people that are getting divorced and marriage is breaking and terrible decisions that he or she made. And I just, you know, I think we have the righ..."