Why VCs Should Be Pirates | Arian Ghashghai, Founding Partner, Earthling VC
Thu Jan 22 2026
This week on The Data Minute, Peter sits down with Arian Ghashghai, Founding Partner at Earthling VC, to discuss his thesis of investing in "weird stuff early."
Arian explains why he bets on robotic oyster farms, virtual reality, and ocean exploration when other investors are chasing the latest consensus trends. He breaks down his "pirate ship" approach to venture capital and why being the first check is often more valuable to a founder than being the "most helpful."
They also discuss the current state of the VC market and why Arian believes many funds have shifted from true long-term investing to short-term trading. Plus, Arian shares his unfiltered advice on raising from LPs, why he ignores "signaling risk" from big funds, and why Zurich might have a higher talent density than San Francisco.
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Chapters:
00:00 – Intro: Investing in weird stuff
02:07 – Intro to Earthling VC
02:47 – The "weird stuff early" thesis
03:57 – Who are the LPs backing weird tech?
05:47 – Why VR is a polarizing investment
08:55 – The value of transparency with LPs
10:49 – Case study: Robotic oyster farms
14:36 – Do LPs push back on style drift?
16:06 – Why keep the fund size small?
18:50 – Portfolio construction: Diversified vs. Concentrated
19:56 – Fundraising advice: Find alignment, don't convince
25:46 – Can a solo GP really support 50 companies?
28:42 – The three types of investors: Biggest, First, Helpful
30:50 – Speed as a competitive advantage
33:03 – Why Safe caps are just demand-driven prices
34:11 – The cynicism of modern venture capital
38:02 – Are VCs investing or just trading?
41:31 – Do we need more VCs?
46:41 – Avoiding consensus deal flow
48:17 – Why Zurich is an underrated tech hub
50:50 – Why founders love explicit investors
This presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only. This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2026 eShares, Inc., dba Carta, Inc. All rights reserved.
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This week on The Data Minute, Peter sits down with Arian Ghashghai, Founding Partner at Earthling VC, to discuss his thesis of investing in "weird stuff early." Arian explains why he bets on robotic oyster farms, virtual reality, and ocean exploration when other investors are chasing the latest consensus trends. He breaks down his "pirate ship" approach to venture capital and why being the first check is often more valuable to a founder than being the "most helpful." They also discuss the current state of the VC market and why Arian believes many funds have shifted from true long-term investing to short-term trading. Plus, Arian shares his unfiltered advice on raising from LPs, why he ignores "signaling risk" from big funds, and why Zurich might have a higher talent density than San Francisco. Subscribe to Carta’s weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/ Explore interactive startup and VC data, with Carta’s Data Desk: https://carta.com/data-desk/ Chapters: 00:00 – Intro: Investing in weird stuff 02:07 – Intro to Earthling VC 02:47 – The "weird stuff early" thesis 03:57 – Who are the LPs backing weird tech? 05:47 – Why VR is a polarizing investment 08:55 – The value of transparency with LPs 10:49 – Case study: Robotic oyster farms 14:36 – Do LPs push back on style drift? 16:06 – Why keep the fund size small? 18:50 – Portfolio construction: Diversified vs. Concentrated 19:56 – Fundraising advice: Find alignment, don't convince 25:46 – Can a solo GP really support 50 companies? 28:42 – The three types of investors: Biggest, First, Helpful 30:50 – Speed as a competitive advantage 33:03 – Why Safe caps are just demand-driven prices 34:11 – The cynicism of modern venture capital 38:02 – Are VCs investing or just trading? 41:31 – Do we need more VCs? 46:41 – Avoiding consensus deal flow 48:17 – Why Zurich is an underrated tech hub 50:50 – Why founders love explicit investors This presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only. This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2026 eShares, Inc., dba Carta, Inc. All rights reserved.