E367: The Family Office Betting on Humanity’s Future

May 12, 2026

L.R. Fox, Managing Director of NEXT Global Capital and Forbes 30 Under 30 honoree, is a serial entrepreneur investing in frontier tech and national security. He explains why capital is a vote for the future. Short takes on investing for impact from day one. How to buy, build, and invest to create new markets. Why resilience beats IQ and why family offices can outperform by breaking traditional molds.

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INSIGHT

Hard Problems Create Stronger Moats

Hard problems often yield outsized returns because they create high barriers to entry and durable moats.
Fox contrasts commoditized B2B SaaS with frontier hardware and deep tech where scarcity and difficulty create value.

ADVICE

Buy Hold Invest To Make Futures Inevitable

Do use a buy, hold, invest framework: invest where teams exist, buy assets/IP when no market players exist, and build when nothing else will create the future.
Fox scouts markets, backs multiple complementary companies, purchases plateaued firms or IP, then assembles teams to build what’s missing.

ANECDOTE

From Foster Care To Serial Founder

Fox grew up in foster care, dropped out of high school, entered college at 15, and sold his first aerospace company at 19.
Those hardships taught resilience and agency that later fueled building a defense company and family office.

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What if the highest-return investments are the ones that reshape the future—not just the ones that fit today’s market? In this episode, I sit down with L.R. Fox, Managing Director of NEXT Global Capital, to discuss why he rejected the traditional path of “build wealth first, give later” and instead built a strategy around impact from day one. Fox explains why capital is a vote for the future, how the best investments often sit outside crowded sectors, and why frontier technologies with real-world impact can outperform conventional venture. We also explore his “buy, build, invest” framework, how he creates entirely new markets, and why resilience—not IQ—is the strongest predictor of success.

Highlights:

Why every dollar is a vote for the future you want to create
The hidden alpha in impact investing most investors ignore
Why the best opportunities exist outside crowded sectors
How Fox’s “buy, build, invest” framework creates new industries
Why resilience is more predictive than intelligence
The difference between optimizing for returns vs inevitability
How family offices can outperform by breaking traditional models
Why solving hard, real-world problems drives the biggest outcomes

Guest Bio:

L.R. Fox is a serial entrepreneur, investor, and philanthropist, and the Managing Director of NEXT Global Capital, a family office focused on building and funding companies shaping the future. A Forbes 30 Under 30 honoree, he began his journey in the foster care system and went on to found and scale multiple companies across defense, technology, and frontier innovation. Fox is known for investing in high-impact sectors ranging from national security to healthcare and for his mission-driven approach to combining capital with meaningful global change.

Are you interested in sponsoring the How I Invest Podcast? Please email David Weisburd at david@weisburdcapital.com.

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Sponsor:

AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.

Stay Connected with David Weisburd:

X/Twitter: @dweisburd LinkedIn: https://www.linkedin.com/in/dweisburd/ Weisburd Capital: https://www.weisburdcapital.com/

Stay Connected with L.R. Fox:

LinkedIn:https://www.linkedin.com/in/lrfox/

Questions or topics you want us to discuss on How I Invest? Email us at david@weisburdcapital.com.

Disclaimer:

This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Capital. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.

(0:00) Why He Ignored the “Build Wealth First” Playbook (1:41) The Secret Most Investors Miss About Impact (5:06) Why Hard Problems Can Create the Biggest Returns (7:11) The Buy, Hold, Invest Framework for Building the Future (12:00) How a Brutal Childhood Became His Greatest Edge (15:50) Why Having No Safety Net Made Him More Dangerous (20:09) The One Trait That Predicts Success Better Than IQ (25:18) Why Most Family Offices Think His Portfolio Is Crazy (32:15) The AI Jobs Bet Most Investors May Get Wrong (40:24) Why He Doesn’t Think About “Cutting Losers”