Chip Lubsen rowed for Cornell University (’77) and the Potomac Boat Club, helping the Cornell eight win the 1977 IRA (Intercollegiate Rowing Association) Championship. He competed for the US at the 1976 and 1984 Olympics, also making the 1980 team that did not compete. He first competed internationally at the World Juniors, appearing in that meet from 1971-73. Lubsen later won a gold medal in the eights at the 1979 Pan American Games. He competed at the World Championships in 1975 and 1977-79, in various boats, but never quite made a podium, placing fourth in the 1978 coxed fours.
From 1979-97 Lubsen worked as a vice-president of Servicing Systems at Sallie Mae. In 1999 he joined SatoTravel as chief information officer, working there until 2003, when he moved to SynXis, a privately held hospitality company, as a consultant. Starting in 1997 he became a principal with Stuart Mill Capital, a venture capital firm. In 2007 he was made managing partner of the company.