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when I'm meeting a Company CEO for the first time I couldn't care less about the business I have these two things that I look at what sector will the world's first trillionaire come from in this highlight samath shares his billionaire venture capitalist secrets for what unique features he screens for in businesses he's looking to invest in I'm sure you stay to the end because chimeth Reveals His prediction for what industry will create the world's first ever trillionaire and how you can take advantage of this massive investment opportunity you invest in a lot of companies you looked at a lot of companies what do you think makes for a good leader so we talked about building a team but a good leader for a company what are the qualities when I first meet people I never asked to see a resume and when I'm meeting a Company CEO for the first time I couldn't care less about the business in fact and I try to take the time to let them reveal themselves now in this environment you know I'm doing most of the talking but if this were the other way around and you are ever raising capital and usage math I'd be interested in you looking at this business I'd probably say eight to ten words for hours and just listen prod you know I throw things out prod and let you Meander and in you Meandering I'm trying to build a sense of who this person is once I have a rough sense of that which is not necessarily right but it's a starting point then I can go and understand why this idea makes sense in this moment and what I'm really trying to do is just kind of like unpack where are the biases that may make you you know fail and then we go back to you the thing that Silicon Valley has the benefit of though is that they don't have to do any of this stuff if there's momentum because then the rule book goes out the window and people clamor to invest so one of the things that I do and this is again back to this pugilism that I inflict on myself is I have these two things that I look at thing number one is I have a table that says how much did we make from all of our best investments how much did we lose from all of our worst Investments what is the ratio of winners to losers over 11 years and in our case it's 23 to one on you know billions of dollars so you can you can kind of like you can see a lot of signal but what that allows me to do is really like say wait a minute like we cannot violate these rules around how much money we're willing to commit in an errant personality you know the second is I ask myself of all the other top VCS in Silicon Valley name them all what's our correlation meaning when I do a deal how often does anybody from Sequoia Excel Benchmark Kleiner who you name it do it at the same time or after and vice versa and then then I look at the data to see how much they do it amongst themselves well it's a good sign I'm at zero as virtually close to zero as possible and that's a good thing well it's not a good thing when the markets are way way up because it creates an enormous amount of momentum so I have to make money the hard way I have to you know because I'm trafficking and things that are highly uncorrelated to the the Gestalt of Silicon Valley which can be a lonely business but it's really valuable in moments where markets get crushed because correlation is the first thing that causes massive destruction of of capital massive because one person all of a sudden with one blow up in one company Boom the contagion hits everybody except the person that was you know not and so now those are like more sophisticated elements of risk management which is again this pugilism that I inflict on my nobody asks me to do that nobody actually at some level when the markets are up really care that when markets are sideways or when markets are down I think that that allows me to feel proud of our process you said that the world's first trillionaire would be somebody in climate change in the past um let's update that what's uh today as we stand here today what sector will the world's first trillionaire come from yeah I think it's energy transition if you build the company or are part of a company or a part of a movement your economic participation tends to be a direct byproduct of the actual value that that thing creates in the world and that the thing that that creates in the world will be bigger if it is not just an economic system but it's like a philosophical system it changes the way that governance happens it changes the way that people think about all kinds of other things about their lives so there's a reason I think why database companies are worth acts social companies are worth why but the military industrial complex is worth you know as much and I think there is a reason why that if you for example were to go off and build some newfangled source of energy that's clean and Hyper abundant and safe that what you're really going to displace or reshape is trillions and trillions of dollars of worldwide GDP so the global GDP as I call it 85 trillion right it's going at two to three percent a year so in the next 10 years we'll be dealing with a hundred trillion dollars of GDP right somebody Who develops clean energy in 2035 will probably shift 10 percent of that around 10 trillion dollars a company can easily capture 30 percent of a market three trillion dollars a human being can typically own a third of one of these companies one trillion dollars so you can kind of get to this answer where it's like it's going to happen in our lifetime but you have to I think find these systems that are so gargantuan and they exist today it's more bounded because price Discovery takes longer and an existing thing it's more unbounded because you know what it is you know the tentacles that energy reaches right of that 80 trillion dollars of worldwide GDP I bet you if you added up all the energy companies but then you added up all of manufacturing you know if you added up all of Transport you'd probably get to like 60 of the 80.
do you have an idea of which energy uh which alternate energy sustainable energy is the most promising well I think that we have to do a better job of exploring what I call the suburbs of the periodic table so you know we're really good in Seattle you know the upper Northwest yes you know we're kind of good in Portland uh but we're non-existent in San Diego and we have zero plan for North Carolina through Florida yeah and so is that a fancy way of saying nuclear is should be part of the discussion I think nuclear I think room temperature semiconductors I'm I'm not convinced right now that the existing set of nuclear Solutions will do a good job of scaling Beyond bench scale I think there is a lot of complicated technical problems that make it work at a bench scale level even partially but the energy equation is going to be very difficult to overcome in the absence of some leaps in Material Science have you seen any leaps is there promising stuff like you're you're seeing The Cutting Edge from a company perspective yeah I would say not yet I do but the precursor yes I have been spending a fair amount of time so talking about like a new framework that's in my mind is around these room temp superconductors and so I've been kind of bumbling around in that Forest for about a year I haven't really put together any meaningful perspectives but again talking about like trafficking in in companies and Investments that are very lonely but they allow me to generate returns that are relatively unique and independent that's an area where I don't see anybody else when I'm there I'll give you another area you know we I think are about to unleash in a world of zero energy and and zero compute costs computational biology will replace wet chemistry and when you do that you will be able to iterate On Tools that will be able to solve a lot of human disease I think like if you look at the head of like the top 400 most recurring rare diseases I think like half the number 200 is specific point mutation as just the mismethylation between C and T but um so that couldn't that be a trillion a source of uh the competition biology unlocks I mean obviously medicine is begging for the thing with energy though is that the groundwork is well laid and talking about sort of like the upper bound is well defined the upper Bound in medicine is not well defined because it is not the sum total of the market cap of the Pharma Industries it is actually the sum total of the value of human life and that's an extremely ethical and moral question isn't there special interests that are resisting uh moving making progress on the energy side so like uh governments and how do you break through that I mean you have to acknowledge the reality of that right I think it's less governance in fact like I said I think President Biden has done a really incredible job while Chuck Schumer really is done a really incredible job because so just to give you the math on this right like back to this so three percent of everything is of a market or zealots but when you get past five percent things tend to just go nuclear to 50 60 the way that they wrote this last bill the cost I'll just use the cars as an example the cost of an average car is 22 and a half thousand the cost of the cheapest battery car is thirty thousand and lo and behold there's a 7 500 credit and it's like to think the Invisible Hand didn't know that that math was right I think is kind of a little bit malarkey and so the battery EV car is going to be the same price as the thing and it's going to go to 40 50 if you enjoyed that video click here to watch billionaire Adventure capitalist jamath power habitatia expose Amazon's unorthodox plan to put solar panels on your home for free as they attempt to expand its Market into the lucrative energy sector
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