E443: Why the Next Trillion-Dollar Startup Won’t Be a Software Company

Highlights:
- Why the best companies and investors need a lane uniquely their own
- Why quantity of meetings can improve venture investment quality
- How AI growth is changing the definition of exceptional traction
- Why deep tech companies have a completely different revenue curve
- What separates the best venture capitalists from average investors
- Why Leo believes hardware investing is becoming more attractive
- How to evaluate deep tech companies years before meaningful revenue
- Why hardware may not be as capital intensive as investors assume
- The founder traits that matter most when building physical products
- Why Leo is cautious on investing directly in humanoid robotics

Guest Bio:
Leo Polovets is a General Partner at Humba Ventures, an early-stage deep tech fund investing 500K–1M in companies across robotics, bio, defense, energy, manufacturing, and other physical industries. He previously co-founded Susa Ventures, an early investor in companies including Robinhood, Flexport, and Stord.

Sponsors:
Juniper Square:
Juniper Square is trusted as the operations partner by more than 2,300 private markets GPs worldwide, connecting technology, data, and fund administration services to help GPs fundraise efficiently, streamline operations, and improve the investor experience. Their unified platform centralizes data and connects LPs and GPs across every workflow, including fundraising, investor onboarding, compliance, treasury, and reporting. Today, more than $1 trillion in LP capital is managed through Juniper Square. For more information, please visit junipersquare.com/howiinvest.

AlphaSense:
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 alpha-sense.com/howiinvest to learn more.

AlphaSummit Discount Code: AS26HII50

Are you interested in sponsoring the How I Invest Podcast? Please email David Weisburd at [email protected].

Stay Connected with David Weisburd:
X/Twitter: @dweisburd
LinkedIn: https://www.linkedin.com/in/dweisburd/
Weisburd Pierce: https://www.weisburdcapital.com/

Stay Connected with Leo Polovets:
LinkedIn:https://www.linkedin.com/in/lpolovets

Questions or topics you want us to discuss on How I Invest? Email us at [email protected].

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.