How I Invest with David Weisburd

Oscar Fahlgren, CIO and Global Head of Private Equity at Mubadala Capital, is a leader in deploying large, complex private markets deals. He talks about why complexity cuts competition, how Mubadala writes and syndicates multi‑billion dollar checks, the power of long‑term permanent capital, and building strategic GP partnerships for scaled, aligned investing.

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.

Keri Findley, founder and CEO of Tacora Capital who builds asset-based credit for fintech and specialty finance. She explains how illiquidity creates opportunities, using securitization and ratings arbitrage to exploit forced sellers. Keri describes financing startups banks avoid, the challenges of scaling credit funds, and why ethics, alignment, and creating assets matter for durable returns.

Ilya Strebulaev, Stanford GSB professor and VC incentives expert, explains how incentive design—not raw fees—shapes manager behavior. He discusses how higher carry boosts risk-taking, why follow-on decisions often matter more than initial bets, and how diversification and correlation across managers change venture outcomes. He also warns about style drift and escalation of commitment.

Nolan Bean, CIO at FEG with two decades in manager selection and portfolio construction. He argues venture is more about access to top managers than allocation. Discussion covers why companies stay private longer, DPI and liquidity tradeoffs, how small growth equity shortens time-to-distribution, AI exposure across assets, and why true diversification is tougher today.

Nigel Morris, Managing Partner at QED Investors and Co‑Founder of Capital One, shares decades of fintech operating and investing experience. He discusses why incumbents fail to innovate. He explains QED’s playbook for scaling fintechs, geo‑arbitrage to repeat ideas globally, spotting committed founders, and why culture, people and hands‑on support drive outsized winners.

Daniel Jacker, CEO and Co‑Founder of ZaiNar and longtime deep‑tech entrepreneur, explains building a real‑time, high‑precision sensing layer for physical AI. He discusses turning wireless networks into global sensors, a nine‑year stealth build, why physical AI lacks a data layer, and how swarm intelligence and centralized location data reshape robotics and automation.

Ian Sigalow, Co‑founder and Managing Partner of Greycroft with 20+ years in venture, discusses why venture returns hinge on a few top firms. He contrasts access investing with craft seed investing. He explains why diversification can hurt, why conviction trumps consensus, what makes founders “masters of two domains,” and how AI is reshaping company building and VC workflows.

What if the biggest breakthroughs in biotech don’t come from more capital—but from building better systems for innovation? In this episode, I sit down with Errik Anderson, biotech entrepreneur and founder behind multiple billion-dollar companies, to discuss how building infrastructure, not just drugs, is reshaping the future of healthcare. Errik explains why most biotech companies fail the same way, how reducing the cost and time of experimentation unlocks more innovation, and why staying private longer enables better long-term decision making. We also explore compounding in biotech, the limits of scaling creativity, and how conviction, mission, and talent ultimately determine which companies change the world. Highlights: Why most biotech companies fail the same way How lowering experiment costs increases innovation The difference between building drugs vs building infrastructure Why great companies stay private longer than expected How compounding works in biotech beyond capital Why you can’t scale creativity by adding more money The real bottleneck in drug discovery today Why mission-driven teams outperform over long time horizons Guest Bio: Errik Anderson is a biotech and technology entrepreneur, investor, and founder of multiple billion-dollar companies, including Alloy Therapeutics. He focuses on building platforms that accelerate drug discovery and innovation across the healthcare ecosystem. In addition to founding and scaling companies, he is an active mentor and investor, driven by a long-term mission to create transformative solutions in health and science for future generations. Are you interested in sponsoring the How I Invest Podcast? Please email David Weisburd at david@weisburdcapital.com. We’d like to thank AlphaSense for sponsoring this episode! 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 Errik Anderson: LinkedIn: https://www.linkedin.com/in/errikanderson/ 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) How He Built His Fourth Unicorn (And Why This One Is Different) (1:20) The Strategy Behind Building a “Biotech Infrastructure” Giant (3:30) Why You Should Build the Company You’d Never Want to Leave (6:00) The Real Test of Conviction: Would You Ever Sell? (10:00) Why Most Great Companies Should Stay Private Much Longer (15:00) The Hidden Advantage Private Companies Have Over Public Markets (20:00) Why Innovation Can’t Be Scaled Just by Adding Money (25:00) The Brutal Truth: Every Company Fails the Same Way (30:00) Why So Few People Actually Do the Hard Things (34:00) The Counterintuitive Rule: Quantity Creates Quality

Jamie Montgomery, Co-founder and Managing Partner of March Capital who backed CrowdStrike and ThoughtSpot, shares lessons from weekly meetings with Charlie Munger and why long-term partnerships beat short-term deals. He discusses targeting asymmetric upside, the “turkey sandwich test” for founder fit, frameworks for doubling down, AI’s company reboot, and how capital cycles and hyperscalers reshape liquidity.