Josh Wolfe bootstrapped Lux Capital by selling expensive deep-tech research reports to CEOs and VCs, then built a systematic approach to spinning companies directly from academic labs around neglected scientific problems like nuclear waste cleanup and digitizing smell. He deliberately engineered Lux's partnership structure to prevent the geographic and sectoral splits that destroy most VC firms, while maintaining an unusual focus on geopolitical currents and macro cycles that most early-stage investors ignore. Josh Wolfe bootstrapped Lux Capital by selling expensive deep-tech research reports to CEOs and VCs, then built a systematic approach to spinning companies directly from academic labs around neglected scientific problems like nuclear waste cleanup and digitizing smell. He deliberately engineered Lux's partnership structure to prevent the geographic and sectoral splits that destroy most VC firms, while maintaining an unusual focus on geopolitical currents and macro cycles that most early-stage investors ignore.