#46 - “The Life of The Long Odds, The Life of Making It Happen” (feat. Daniel Kimerling, Founder of Deciens Capital)

In this episode of Investing in Integrity, we spoke with Daniel Kimerling, Managing Partner of Deciens Capital, an early-stage investment fund. Along with being an experienced startup operator, Daniel is also the Co-Founder of Standard Treasury, a Y-Combinator backed startup. Daniel makes an impassioned case for the role of finance & technology (specifically venture capital) in creating opportunity and driving positive innovation – telling stories about how the financing of Genentech enabled the synthesis of insulin, or how fintechs like True Link and Chipper Cash have introduced much-needed financial products to underserved populations. Much of this conversation is also a meditation on the value of liberal arts learning and insatiable curiosity in solving problems. “Investing is the ultimate liberal art,” Daniel says, “because the amount of learning knows no bounds.” Daniel delves into his personal obsession, as he calls it, with, “understanding why people stick with projects that end up being massively successful, even though statistically the odds are massively against them. Daniel and Ross tie together observational insights drawn from Lin Manuel Miranda’s Hamilton, to Charlie Munger’s idea of “natural drift,” to Rick Rubin’s work with Dr. Dre and Johnny Cash. We hope you enjoy this wide-ranging conversation on venture capital, technology, and timeless values like curiosity and perseverance!