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More from @wolfejosh

Josh Wolfe

@wolfejosh

10 Aug

1/ A few select excerpts from Lux Q2 letter to LPs…

“The best hedge against running out of cash—is raising it”

2/
-“Question your teaspoon”

-“While many talk of discouraging ‘conflicts of interest’
few appreciate and encourage ‘interest in conflicts’

-The Binary (dichotomous, stark contrasts)
-The Blur (dialectic, smooth continnum)

3/ “We don’t mistake for genius what is partly attributable to central banks buying …driving rates low…and raising asset prices”

“Means may move (upward) but a reversion to the mean (downward) may move away people’s means….

Read 6 tweets

Josh Wolfe

@wolfejosh

23 Jul

1/ A great article from last year.

10 Yrs ago Lux asked
Q: “What Sucks?” with nuclear.
A: waste

Lux tried to find a high-tech venture to fund. Finding none we started one.
We funded it, hired team, set budget for tech R&D, did M&A
And got VERY lucky. cen.acs.org/environment/po…

2/ One tech we had in our portfolio @ our venture (Kurion) pulled radioactive Cesium + Strontium from salt water. Nobody has this as nuclear reactor water is ~100% pure.

When Fukushima disaster struck, hundreds of milllions of gallons SEA WATER were dumped to prevent meltodown…

3/ This little US company with a TOTAL of $3M of invested capital ($1.5M from Lux and we owned 35% between common + preferred) funded at $3M pre…

ended up with $40M of EBITDA and sold to Veolia for ~10x.

Lux made 43x on that $1.5M which returned an early fund + then some

Read 7 tweets

Josh Wolfe

@wolfejosh

17 Jul

@iAmErickSermon

1/ About last night...Strictly Business.

Legendary EPMD (green eyed bandit @iAmErickSermon + Parrish Smith)

covering Tribe Called Quest (Scenario), 2Pac (Hail Mary), Ol Dirty (Shimmy Shimmy Ya), Biggie (Hypnotize)...

@funkflex

2/ @funkflex on the wheels of steel...

@iAmErickSermon

3/ Hundreds of hours influenced my ears between them from copping bootleg Maxell tapes of Hot97 sets to
EPMD + @iAmErickSermon + @funkflex

Read 4 tweets

Josh Wolfe

@wolfejosh

13 Jul

In INVESTING

4 most dangerous words—“It’s different this time”.

4 most profitable words—“it’ll rot your brain”

When those are uttered by parents or politicians: run + buy
video games
rock’n’roll
internet

US Congress (1955) Comics + Juvenile Delinquency
thecomicbooks.com/1955senateinte…

2/
PS: two comic/graphic novel titles i recommend

BRZKR + ETHER…

3/ BRZRKR (created by Keanu Reeves)…

has very cool simple story + detailed art
and when you zoom out has VERY cool color gradient from start to finish…

Watch colored pages chance with the scroll from this POV

Read 4 tweets

Josh Wolfe

@wolfejosh

10 Jul

@entropyecon

1/ Outstanding op-ed by Brett Swanson @entropyecon

A few excerpted zingers in this THREAD…
wsj.com/articles/big-t…

2/
-“Index funds exist because security prices are nearly impossible to predict. So if expert computer modelers can’t yet predict temperatures in a single complex realm—climate—how can we take seriously BlackRock’s triple extrapolations of the climate, the economy and finance?”

3/
“Who wants to bet BlackRock, which just won a first-of-its-kind approval to operate in China, won’t force every Chinese firm to submit to Mr. Fink’s climate vanities in the name of fiduciary risk management, or even saving the planet?”…

Read 9 tweets

Josh Wolfe

@wolfejosh

23 Jun

1/We started Coney Island Prep public charter school >12yrs ago to give kids
the right heroes
deep desire to learn
high expectation
to get into college & career of their choice

From 90 5th graders in a room in the projects to > 1100 scholars + 200 staff + 💯college acceptance
🤯