375 | Scarcity, Abundance & New Mexico’s Permanent Fund with Lawrence Chavez
What if the secret to transforming your local economy was already sitting in your state’s investment portfolio?
These are just a few of the provocative questions we explored with Lawrence Chavez on the latest Awarepreneurs podcast episode, hosted by our very own Paul Zelizer.
Bio: Lawrence Chavez is a passionate innovator focused on meaningful innovation. Lawrence has been on both sides of the table and understands the demands of the investor and the needs of the founder. Most recently as CEO & Founder of EveryDay Contacts. Previously, Lawrence co-founded Lotus Leaf Coatings, an advanced materials company in 2011. Prior to 2011 he served as a Venture Partner with Flywheel Ventures and managed the NM Gap Fund I, a seed investment fund, as well as serving as Interim CFO at Astria Semiconductor. Lawrence also served on the boards of ABQid Fund I and Arrowhead Innovation Fund, both focused on seed and early stage investing in New Mexico.
This episode is sponsored by the coaching company of the host, Paul Zelizer. Consider a Strategy Session if you can use support growing your impact business.
Resources mentioned in this episode include:
Transcript of Scarcity, Abundance & New Mexico’s Permanent Fund with Lawrence Chavez
NOTE: While it’s not perfect, we offer this transcript and the below summaries by Castmagic for those who are hearing impaired or who don’t find listening to a podcast enjoyable or possible.
You can read the full transcript of this episode here
Key Takeaways in Scarcity, Abundance & New Mexico’s Permanent Fund with Lawrence Chavez
Three key takeaways from the Awarepreneurs episode with Lawrence Chavez, along with a representative quote for each point:
1. New Mexico’s Scarcity Mindset Versus Abundant Resources
Despite New Mexico possessing one of the world’s largest sovereign wealth funds per capita, the “scarcity mindset” remains deeply embedded in its institutions and culture—leading to underutilization of available resources for present-day development and prosperity.
“We are an extremely rich state with a poverty mindset and the inability to access these funds to move our future forward.”
2. The Permanent Fund: Enormous Opportunity, Limited Local Impact
The New Mexico Permanent Fund, valued at well over $60 billion and projected to reach $100 billion by the decade’s end, is invested almost entirely out of state, resulting in minimal direct benefit to the everyday lives and economic prospects of New Mexicans.
“The vast majority of that money is invested elsewhere. It’s not invested in New Mexico. And there’s a reason for that. And I think we should change that reason.”
3. A Call for Bold, Visionary Investment in New Mexico’s Future
Chavez advocates for New Mexico to set a transformational, measurable goal—such as becoming a top 10 per capita GDP state—and to boldly invest ample portions of the Permanent Fund in infrastructure, education, and business development within the state. This requires challenging the status quo, shifting mindsets, and building public will for systemic change.
“The idea is to take this huge amount of money, invest it in a holistic list of things: education, infrastructure...and then infrastructure across the board, invested in capital, invested in businesses...We could utilize that money to change the trajectory of our state.”