Lux Capital Holds Dry Powder as Stability Breeds Market Instability
8/Same physics @ work in markets
more consensus + momentum + lower informational entropy = storing volatility NOT dissipating it
indiscriminate buying -> selling
“STABILITY” breeds INSTABILITY
biggest position Lux holds this qtr is not a specific investment... it's DRY POWDER
Josh Wolfe@wolfejosh7/We can train models that beat last year’s benchmarks on all axis––but still cant build a FLY🪰 cant quantize 600MW model into 20W brain🧠 cant put data center in backpack 🎒or a fighter cockpit that must decide in millisec opportunity for AI @ EDGE will DWARF data center AI
9/ Lux has deployed capital...
into 3 intersecting asymmetries: physical, biological, artificial (defense, space, lifesci, embodied + edge AI)
the arrangements of matter + energy that resist ENTROPY most efficiently…will define next economic order
...FIAT LUX.
Josh Wolfe@wolfejosh8/Same physics @ work in markets more consensus + momentum + lower informational entropy = storing volatility NOT dissipating it indiscriminate buying -> selling “STABILITY” breeds INSTABILITY biggest position Lux holds this qtr is not a specific investment... it's DRY POWDER
10/ Full 🔗link to downloadable PDF 📄of Lux LP letter here 👇 https://drive.google.com/file/d/1KiHvdQLVzquIecaoVJB7ZJiqg2e75QIi/view?usp=sharing
Josh Wolfe@wolfejosh9/ Lux has deployed capital... into 3 intersecting asymmetries: physical, biological, artificial (defense, space, lifesci, embodied + edge AI) the arrangements of matter + energy that resist ENTROPY most efficiently…will define next economic order ...FIAT LUX.