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b'Long-time listeners will have heard me joke before that this podcast should really be called \\u201cthis is who are you up against.\\u201d I\\u2019ve been waiting for the right episode to deploy the joke as a title, and this week we have it.\\xa0\\nThe joke is meant to convey how incredibly impressive these people are who we get to hear from every week. My guest this week is Josh Wolfe, a founding and managing partner at Lux Capital in New York City. Lux is a venture capital firm, but a highly unique one. They\\u2019ve spent more time in hard sciences and interesting nooks and crannies of the market than the typical VC firm.\\nSome of investing is zero sum: my outperformance is someone else\\u2019s underperformance. Sometimes, though, investing is positive sum. The combination of capital, ideas, people, drive, and raw energy leads to amazing new things.\\xa0\\nI think the best investing and best investors of the future will be more collaborative than competitive. After finishing with Josh, I couldn\\u2019t stop thinking \\u201cgod, do I want to be involved with whatever he\\u2019s doing, if only just to learn.\\u201d\\xa0\\nThis conversation made me rethink my joke \\u201cthis is who are you up against.\\u201d Now I won\\u2019t think of it as a zero-sum joke, but instead as a reminder: this is the kind of person who is out there. You better find your niche, and still be the absolute best you can within that niche.\\xa0\\xa0\\nPlease enjoy this killer conversation with Josh Wolfe. We cover just about everything.\\xa0\\nFor more episodes go to InvestorFieldGuide.com/podcast.\\nSign up for the book club, where you\\u2019ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.\\nFollow Patrick on Twitter at @patrick_oshag\\n\\xa0\\nLinks Referenced\\n Investing in Biofuels or Biofools?\\nAli Hamed podcast\\nAlex Moazed podcast\\nAndy Rachleff podcast\\nPopplet\\n@wolfejosh\\n\\xa0\\nBooks Referenced\\n Modern Monopolies: What It Takes to Dominate the 21st Century Economy\\n\\xa0\\nWorld After Capital\\n\\xa0\\nShow Notes\\n2:35 \\u2013 (First Question) \\u2013 Lux Capital and the kind of investments they have made over the years\\xa0\\n5:42 \\u2013 The formation of the investment philosophy for Lux\\xa0\\n9:52 \\u2013 Investment philosophy 100-0-100 (ambition, arrogance, intellectual humility)\\xa0\\n10:40 \\u2013 How Josh manages his time and attention\\n12:53 \\u2013 Investing in Biofuels or Biofools?\\xa0\\n13:29 \\u2013 Obsession with nuclear\\xa0\\n18:28 \\u2013 Focus on autonomous vehicles\\xa0\\n21:02 \\u2013 How all of these gambles are viewed by Josh\\u2019s investors\\xa0\\n22:56 \\u2013 Tattoo technology\\n24:20 \\u2013 Ali Hamed podcast\\xa0\\n24:36 \\u2013 How Josh evaluates people when considering early stage investments\\n24:45 \\u2013 Alex Moazed podcast\\n24:49 \\u2013 Modern Monopolies: What It Takes to Dominate the 21st Century Economy\\xa0\\n29:50 \\u2013 Memorable experience investing in a founder\\xa0\\n30:44 \\u2013 The idea of thesis driven approach to private investment\\xa0\\xa0\\xa0\\n30:56 \\u2013 Andy Rachleff podcast\\xa0\\xa0\\n32:38 \\u2013 Crazy thesis \\u2013 understanding the emotional needs of our pets\\xa0\\n38:03 \\u2013 Josh\\u2019s learning process through these theses\\n38:34 \\u2013 Popplet\\n45:49 \\u2013 Investors that Josh has learned the most from\\n47:37 \\u2013 Josh\\u2019s comfort investing outside of his usual asset class\\n49:03 \\u2013 @wolfejosh\\n50:56 \\u2013 What is the thinking with the short strategy at Lux\\n52:31 \\u2013 SpaceX vs Tesla, good business vs bad business\\n53:42 \\u2013 How Josh approaches the quality of a business\\n54:15 \\u2013 World After Capital\\n55:16 \\u2013 How does Josh evaluate competitive advantage\\n56:45 \\u2013 Where are we in the venture capital landscape\\n1:01:42 \\u2013 How does his outlook on venture capital affect the way Lux is run\\n1:02:48 \\u2013 Thoughts on cryptocurrency\\n1:07:22 \\u2013 What is the most memorable conversation Josh has ever had\\n1:09:34 \\u2013 What is Josh\\u2019s objective function in life\\n1:12:43 \\u2013 Are there people that Josh disagrees with but deeply respects\\n1:13:32 \\u2013 Kindest thing anyone has ever done for Josh\\xa0\\nLearn More\\nFor more episodes go to InvestorFieldGuide.com/podcast.\\xa0\\nSign up for the book club, where you\\u2019ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub\\nFollow Patrick on twitter at @patrick_oshag'