Wave Function is led by a solo general partner whose background spans Stanford aerospace training, work on Falcon 9 reentry technology at SpaceX, two of his own deep-tech startups, and government contracting experience, giving him direct judgment on whether hardware plans are realistic; he applies this by investing as early as pre-incorporation, defining deep tech narrowly as hardware rather than software, avoiding unproven lab experiments in favor of technology that is already doable but needs strong execution, and looking for hidden government or defense customers and non-dilutive funding paths in nearly every company he backs. He also argues that hardware can now cost less to build than a top software team in the Bay Area, and applies a SpaceX-style culture of fast iteration and high individual responsibility to how he invests and works with founders.