Josh Wolfe, Peter Hebert & Samuel Arbesman
Co-founders and Scientist in Residence at Lux Capital
Discussion
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Peter Hebert
@peterjhebert · Managing Partner, Lux Capital
Hi, we're Josh, Peter, and Sam. Josh and Peter are co-founders of Lux Capital and Sam is Lux's Scientist in Residence. Lux Capital is a venture capital firm devoted to bridging the gap between science fiction and science fact, investing in people inventing the future. For more than a decade, we have been committed to supporting the founders of counter-conventional, high-risk, cutting-edge ventures that thrive at the outermost edges of what is possible.
And now a bit more detail about each of us:
I'm Josh Wolfe co-founder of Lux Capital (@wolfejosh) – I love contrarian thinkers and people possessed by doing things others aren't. I see genius in founders who others might think are just eccentric or strange. I like lifelong learners connecting different disciplines together and take to competitive people with chips on their shoulders because of some unique event in their lives. I see the gap between science fiction once imagined and science fact now realized ever shrinking. I'm both an optimist about the endless frontier of technological possibility and a realist who believes failure comes from a failure to imagine failure. Ask me anything!
Hi, I’m Peter Hebert, co-founder of Lux Capital (@peterjhebert) – I’ve been starting and building things most of my life and today have privilege of working with great entrepreneurs and inventors to bring incredible new futuristic ideas to life. We’re active investors in Robotics, AI/Deep Learning, Drones & Autonomous Systems, 3D Printing, Space/Satellites, Digital Health etc. My favorite topic these days: automation. Ask me anything!
I'm Sam Arbesman, Scientist in Residence at Lux Capital (@arbesman). I come from the world of complexity science (PhD in computational biology), and am also the author of "Overcomplicated: Technology at the Limits of Comprehension" and "The Half-Life of Facts." I'm obsessed with radical interdisciplinarity (for both ideas and startups), grappling with technological complexity, and how to foster generalists in our age of specialization. I'm currently thinking a lot about computational creativity, generative design, the digital humanities, and computational gastronomy. Excited to chat!
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Kunal Bhatia
@kunalslab · Co-founder & Design Lead @SlidesUp
Hi Peter, Josh, and Samuel! Familiar with your work because of @bznotes. Aside from revealing Josh's one crazy idea, what has you most excited in digital health that most people don't think about yet?
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Josh Wolfe
@wolfejosh
@kunalslab @bznotes One of the most recent exciting and non-obvious ones has been in mapping the gut-brain axis. Lots of people are busily pursuing microbiome but this is different. It is an information pathway never yet mapped between gut neurons/receptors and brain neurons. We funded a few Nobel prize winning scientists in a venture started by @agoulburn called "Kallyope". We are also really interested in chronobiology, the timing mechanisms at different scales: both inside of cells, between organs and between organisms.
Ayrton De Craene
@ayrton · Code @ Product Hunt
Why is bridging the gap between science and science fiction your niche?
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Samuel Arbesman
@arbesman · Scientist in Residence at Lux Capital
@ayrton One of the great things about science fiction is that it doesn't just examine gadgets and cool technologies but rather holistic scenarios for what the future can hold, really thinking about how the trajectory of science and technology can impact every aspect of society. Surveying the broad range of science fiction and trying to bring the most exciting possibilities into reality is something truly special.
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Josh Wolfe
@wolfejosh
@ayrton I like to say either our scientists are becoming way more creative (because of exponential technological progress) or our sci-fi authors are becoming less creative. Either way the gap is shrinking. And any new venture starts out as a FICTION. And then people (and capital) make it NON-FICTION....
Rodolfo Rosini
@rodolfor · Co-founder, Weave.ai
Big fan here of your investment thesis and portfolio. How many years did you work before your started to see the light at the end of the tunnel (aka returning your fund)? From the outside it looks like you guys are willing to go a long way to be misunderstood and were long on science when most of your peers were big on social and apps. What was the catalyst of your success, or were you like superlucky and a true overnight success?
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Peter Hebert
@peterjhebert · Managing Partner, Lux Capital
@rodolfor We're just your typical a decade plus overnight success! :) I'd say it took at least 5 years before really finding our rhythm. As long as you are dedicated to being a lifelong learner and able to adjust your processes, you're in a good position. We were working in fairly obscure (as defined by VCs, not by bright scientists) areas, many of which have become some of the most highly coveted areas of global technology of late. But i would say best things we've done that have been within our control (over lets say last 5 years) has been adding amazing high-integrity and high-intellect team members, expanding our west coast presence and allowing our founders to be the best representatives as to who we are as a firm
Chad Whitaker
@chadwhitaker · Design at Product Hunt
Sam, what it’s like being a Scientist in Residence? What does the average day look like for you?
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Samuel Arbesman
@arbesman · Scientist in Residence at Lux Capital
@chadwhitaker It's great! I get to act as connective tissue for the ideas and people we find most exciting, by bringing ideas at the frontier of science and technology to Lux as well as to Lux's portfolio. In practice, this involves a lot of reading, engaging with the public (writing, speaking, or even chatting live on PH!), as well as lots and lots of conversations with some of the most interesting scientists, technologists, writers, and artists on the planet, and seeing how they can be brought to bear on what we are working on and thinking about at Lux.
Edis Murtic
@nextenergylabs · Nextenergylabs
@wolfejosh What is your goal to achieve in the next 50 years and what legacy do you wish to leave behind?
What is driving you?
Contact me so that we can meet and talk. Read my mission statement at www.aigovernment.org
I am solving the major problems in the world, unlimited energy and water but also the future governance with help from A.I
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Josh Wolfe
@wolfejosh
@nextenergylabs my first goal in 50 years is to still be alive! on legacy: it's really about imagining a future where I can be proud to see my kids being proud of the past i helped create. your effort seems impressive and ambitious. Yuval Harari has some provocative ideas about this too...
Edis Murtic
@nextenergylabs · Nextenergylabs
@wolfejosh Nice one. Josh, Continue with what you are doing, Lux Capital is a vc firm to look for in the future.
You should take contact with Elon Musk and discuss the future. You two could do amazing things, do you need help with an intro?
Antoine Buteau
@anbuteau · TMT Management Consultant @ The PNR
Hey guys, thanks to PH for organizing and for you to participate :)
I'm a big fan of what you did at Kurion (https://medium.com/@lux_capital/...), what do you think are the next big opportunities in material engineering ?
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Josh Wolfe
@wolfejosh
@anbuteau @lux_capital Metamaterials are one area that's ripe for lots of commercial activity and new ventures. We have already funded 3 ventures including Kymeta (enabling high-speed satellite communication on flat non-moving antennas) and Evolv (rapid security detection at video-frame rates). We are also interested in new ventures using novel optical materials for holography in both display and storage. And even new material arrays for crazier things like audio-zoom...
Antoine Buteau
@anbuteau · TMT Management Consultant @ The PNR
@lux_capital Thanks @wolfejosh, appreciate it :)
Mike Coutermarsh
@mscccc · Code @ Product Hunt
Hey! Would love to hear from each of you. What's the biggest risk you've taken in your career than scared you the most? What came from it?
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Peter Hebert
@peterjhebert · Managing Partner, Lux Capital
@mscccc Hey Mike, biggest risk i've ever taken was leaving "safe" job at Lehman Brothers to start Lux. Though it actually didnt feel like big risk at time nor scare me. Perhaps I was able to see into the future! I'd say the decision turned out OK.
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Josh Wolfe
@wolfejosh
@mscccc some people told @peterjhebert and i we were taking crazy risk starting Lux. it is NOT a risk if you have nothing to lose. I grew up raised by a single mom in Coney Island, Brooklyn. We didn't come from much so what some thought was a risk in starting Lux was not a risk other than chance of social embarrassment from failure. And other things in life steel you from that. Most of the biggest risks were the risks UNTAKEN. That's also the biggest source of regret i think most people have...
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Samuel Arbesman
@arbesman · Scientist in Residence at Lux Capital
@mscccc Probably my biggest risk was abandoning a path in traditional academia. That being said, it became pretty clear to me relatively quickly that I was having far more fun outside it, first in the foundation world (at the Kauffman Foundation), and now in the VC world.
Antoine Buteau
@anbuteau · TMT Management Consultant @ The PNR
One less known thing I think about Lux Capital, is that you founded Lux Research back in 2004 (http://www.luxcapital.com/compan...)..
How much Lux Research feed into your investment thesis/strategy?
Same question when you decide to invest in a business vs starting/incubate businesses on your own ?
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Peter Hebert
@peterjhebert · Managing Partner, Lux Capital
@anbuteau Lux Research was originally an extension of the deep research and work we were doing internally at Lux Capital to assess technologies and market opportunities. Then we recognized that there was a burning market need (primarily from heads of R&D at Global 1000 companies who were looking for better ways to position their companies & allocate capital for the future) and launched "Lux Research". Today it's an independent company and one that has 100+ fantastic deeply technical analysts and team members across the globe. We value the analysts' insights and views on technology roadmaps and they're super plugged into what is happening across world of innovation.
As to investing in business vs starting ones from scratch -- we will always first seek out great founding team, hoping that we can partner/fund/support them as they relentless build a new company. But on the occasion when we cant find any entrepreneurs pursuing an idea/technology (whether because it's is too far out in left field or because we have conviction and others dont), we have the capabilities and experience to launch new companies.
Adam Revetta
@arrev · Building something new 🚀
What's the greatest early indicator to success that you've seen consistently across startups and/or entrepreneurs (if any)?
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Josh Wolfe
@wolfejosh
@arrev Almost always: PEOPLE. Amazing people recruit amazing people and you can see the momentum in hiring and quality of hiring VERY early.
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Peter Hebert
@peterjhebert · Managing Partner, Lux Capital
@arrev agree with @wolfejosh here. Ability to persuade others is strong signal of whether company will 1) be financed by strong investors, 2) recruit excellent technical/business talent, 3) attract top-flight customers and 4) raise future funding with much lower cost of capital. Though important to note that there is not always high correlation with strong operational skillset, but those individuals can be subsequently hired (as long as founder is self-aware and gap is recognized/appreciated)