"Securities" by Lux Capital

By Danny Crichton

"Securities" is a weekly newsletter on science, technology, finance and the human condition

"Securities" is a weekly newsletter on science, technology, finance and the human condition

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“Securities” by Lux Capital: Omnivorous explanations

I was recently asked to provide a CliffsNotes summary of the macro chaos enveloping our world, and my response was a meme of Homer Simpson carrying a sign that displayed “The End is Near.” Flippant, if accurate.The original question though is worth pondering:…


“Securities” by Lux Capital: Warming hyperthreat

What does security — national, economic, social, health — mean when the planet itself is creating the threats? Lethal combinations of climate change and human war are cutting harvest yields globally, from rice in California and corn in Iowa to grains in Europ…


“Securities” by Lux Capital: Corporate insecurities

Most hiring in business is functional, with roles tied to specific problems that executives identify. If a company has a marketing problem, executives hire a marketer. Launching a new product? Hire engineers, designers and product managers. A lot of the frict…


“Securities” by Lux Capital: Laborious Iranians

Have a fantastic Labor Day holiday for those in the States — we’re all looking forward to the deluge of autumn startup fundraising beginning in T-2 days.Meanwhile, one of Lux’s portfolio companies got national attention this week as our themes of science, tec…


“Securities” by Lux Capital: Atomistic literacy

It’s August, and along with the bronzing rays of sun come the inevitable schmoozing estival get-togethers. It’s a ritual that has come back in force after two years of small-group pandemic huddles in yards and on beaches, and this conviviality comes coupled w…


“Securities” by Lux Capital: Truth and reputations

The quantified measurement of truth is often impossible, which forces us to find proxies. Even then, proving the causal linkage between truth and proxy can be an extraordinary endeavor. Research biologists have spent decades exploring, detecting, and refining…


“Securities” by Lux Capital: Remains of the day

Our producer Chris Gates and I have been working on a couple of special projects the past few weeks. We’ll get to reveal those in time, but unfortunately, this week’s column didn’t quite come together before publication.That said, I want to briefly talk about…


“Securities” by Lux Capital: Fabricated knowledge

We produce more knowledge than ever, but our wisdom has never been more lacking.We produce more research papers than ever, but the speed of new discoveries has never been slower in the modern era.We produce more content than ever before, and yet, there’s no e…


“Securities” by Lux Capital: Intel’s Malaise

After millions of dollars of lobbying, the American semiconductor industry received billions of dollars of bailouts commitments with the Congressional passage of the Chips and Science Act to reshore fab capacity back from Asia. The bill’s last-minute surprise…


“Securities” by Lux Capital: Uncertain risk

Colloquially, risk and uncertainty are synonyms, and it’s a misidentification that has caused trillions of dollars of damage and is increasingly at the root of modern “securities.”In his new book “Fragile Futures” from Cambridge University Press, economist an…


“Securities” by Lux Capital: Scientific sublime

This is a newsletter about “Securities” — national security, economic security, health security and how all those myriad of securities aggregate to human wellbeing. It’s been a slog covering this beat in 2022, with an economic recession driving up hunger in t…


“Securities” by Lux Capital: Dissonant loops (Resend)

Note: Due to an outage with Twitter's Revue email newsletter service yesterday, 90% of "Securities" readers never had their issue delivered. I'm sending this out again – apologies if you are in the elite 10% who received a copy ~ Danny


“Securities” by Lux Capital: Dissonant loops

Dissonance reigns. Hard-fought episodes of tranquility are shattered as undercurrents of feverish discontent surges through the surface. The venture industry, slammed by plummeting valuations earlier this year, spent much of the winter and spring fortifying b…


“Securities” by Lux Capital: Independence

It’s been a brutal year for America and the world on every front, so do take a relaxing respite from the chaos this holiday weekend. Or, dive into the “Securities” archives and (re-)read our original issue “American Civil War 2.0.”Actually, maybe just enjoy t…


“Securities” by Lux Capital: Vaporware skepticism

Our producer Chris Gates and I talk about this newsletter in the new "Securities" podcast episode we just released this morning.🔊 Take a listen


“Securities” by Lux Capital: National security and VC exits

Exits are the keystone of a robust venture economy. Ambitious entrepreneurs, helpful accelerators and fast-funding venture capitalists are all necessary inputs of course, but what attracts all this talent and capital in the first place is the opportunity to b…


“Securities” by Lux Capital: Marginal stupidity

One of the most important cognitive tradeoffs we make is how to process information, and perhaps more specifically, the deluge of information that bombards us every day. A study out of UCSD in 2009 estimated that Americans read or hear more than 100,000 words…


“Securities” by Lux Capital: The ESG Mirage

Capitalism has taken its fair share of hits over the past few decades, castigated for all that’s wrong in the world from wealth inequality to climate change. Those criticisms have provoked a range of responses, from revolutionary demands to the more mundane i…


“Securities” by Lux Capital: In Memoriam

This weekend, all of us here at Lux are taking a moment to reflect. In the spirit of Memorial Day, we first and foremost acknowledge the incredible sacrifices the members of our armed services have made around the world, including in Afghanistan, where 13 ser…


“Securities” by Lux Capital: Multiple Valuations Syndrome

First up before the main story, Josh Wolfe has published some excerpts from our latest LP quarterly letter on Twitter (start of thread attached above). It was lengthy given the chaos of the markets and the sheer amount of macro changes transpiring right now, …