Moonshot Investing, with Nikhil Kalghatgi – [Invest Like the Best, EP.82]

My guest this week helps me complete the first trilogy of guests on the podcast. His name is Nikhil Kalghatgi. Along with past guests Ali Hamed and Savneet Singh, Nikhil is a partner at the asset management firm CoVenture. If you liked those two conversations, you will love this one—it is somehow even more wide-ranging than the first two.

Nikhil is the CEO of CoVenture Crypto, but he ended up there because of an overarching investing style that he calls moonshot investing, which we explore right from the start and in great detail.

He is obsessed with productivity and happiness, and we spend a long time on those topics. One of the most interesting experiments I’ve heard about on the podcast is his Happiness project, for which he interviewed more than 100 of the wealthiest people in the world. The lessons he gleaned from those conversations are very helpful, and I won’t soon forget the lesson related to sacrifice.

We also discuss asteroid mining, networking, shared experience, and philosophy. Oh and crypto currencies. Nikhil’s take on crypto has always been refreshing to me. In fact the first time I met him he was throwing cold water on a room full of enthusiastic crypto investors. Within crypto we discuss business opportunities, mining, and how new retail and institutional capital will affect the asset class.

 

Hash Power is presented by Fidelity Investments

Please enjoy this sparkling conversation with Nikhil Kalghatgi.

 

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Show Notes

2:42 – (First Question) –  What moonshot investing is

 

4:41 – Creating sustainable differential investment advantage

 

9:30 – Assessing the market for moonshots

 

12:15 – Types of people suited for moonshots

 

13:42 – The Happiness Project

 

17:45 – Commonalities amongst successful people

 

25:15 – The importance of humor in life

 

17:16 – Recipe for a good joke

 

28:00 – The night Patrick and Nikhil met

 

29:17 – His perspective on the world of venture capital

 

33:26 – What did Nikhil learn from his time at SoftBank

 

34:52 – Craziest thing Nikhil has done

 

40:27 – What he took away from his time in military intelligence

 

46:10 – The idea of manufactured serendipity

 

47:13 – Nikhil’s approach to investing in cryptocurrency and what he finds interesting about it

 

53:23 – How Nikhil reconciles the excitement of crypto with the lack of tangible asset

 

58:10– The timeline of retail and institutional investors becoming more involved in crypto

 

1:02:43– Exploring their liquidity strategy

 

1:04:10 – What happens if regulators shut down the cryptomarkets

 

1:09:48– The role of miners in crypto and how that might change moving forward

 

1:10:43 – What is the frontier of crypto mining

 

1:12:31 – What’s the most compelling rabbit hole in crypto

 

1:16:23 – How would the original creators of crypto currency feel about the current state of the market

 

1:20:01 – What Nikhil sees as the value proposition for the whole ecosystem.

 

1:21:00 – Kindest thing anyone has done for Nikhil