Charlie Munger, Warren Buffett’s partner & Vice Chair of Berkshire Hathaway, has died at 99. He invited me for a private dinner to exchange ideas - despite his disdain for VCs - and I found a kindred spirit and mentor who I wished I had met years sooner.

On humility & mentorship. Charlie asked about my upbringing and those who changed my life. I was an anchor baby for uneducated hardworking immigrants who escaped communism. Charlie believed in the strength and tenacity from humble origins. I told him of the Princeton physicist who taught me math for 10 years, a chance encounter with Jim Hildebrandt (founder of Bain Capital Asia), my hosting of Vinod Khosla at #TieCon. Charlie felt those fit his maxims of “when the student is ready, the teacher will come” and “opportunity meeting the prepared mind.”

On VC investing. In demystifying why Charlie invited me, I felt newfound resolve in 1955 Capital’s take on VC:

- Proactive investment thesis built on success. Charlie thought VCs had lost their way and become hype-chasers reactive to dealflow vs. true company builders. At 1955, we invest in the future of transport, energy storage, food and robotics based on deep experience and prior successes (not failures). We adapt winning recipes for new tech advances and market needs. We look for deals proactively. When we don’t find a company that suits, we build it.

- Smaller portfolio, deep involvement. Charlie believed that VCs focused on investing faster and building AUM vs. serving as moral capital stewards. Most VCs spray and pray so in tough markets, they get crushed when they have too many startups to save. During some cycles, Charlie held off for years before making a large bet, unlike VCs with pressure to do many deals per year. At 1955, we keep our portfolio tight and involve multiple partners to help #founders develop their strategy, go-to-market plan and funding path. We catalyze rounds and bring in anchor investors.

- Multi-stage, triple-down orientation. Charlie felt the VC fund model was outdated and need not be stage-limited. Early investors often miss chances to triple down on their best founders. At 1955, initial checks range from $500K to $15M, but we invest up to $50M into startups and bet big on winners. Charlie did this on an otherworldly scale.

- Long cycles, avoidance of hype. We both thrived in long timescales and felt patience was key for top returns. At 1955, we invest in less-hyped but breakthrough tech with viable paths to market: a fungal food platform (Nature's Fynd), not cell- or plant-based; lead-acid storage (Gridtential Energy), not Li-ion; hybrid-electric jets (Ampaire), not all-electric; cabinet-scale robotics for surgery (Noah Medical), not nano-scale. Most VCs avoid investment casting, railway propulsion, waste slag upcycling, yet like Charlie, we see potential in #contrarian bets.

I’ll never forget our evening, Charlie, and thank you for inspiring us.