EP 049 | OLIVER & DANISH | PAPER VENTURES

00:02:45 - Backgrounds Before Crypto Oliver shares his journey from being expelled from school and playing high-stakes poker to discovering Bitcoin through gambling apps.

00:03:44 - The Early ICO Boom and Finding an Edge A deep dive into the chaotic ICO days, with Oliver explaining how they navigated a world of loose investments and advisory deals.

00:04:47 - The Key to Success: Pressing the Red Button Discussion on what set Paper Adventures apart in the crypto space: taking profit at the right time while others held on too long.

00:05:55 - Why Funds Fail: Lessons Learned from Other Managers Oliver reflects on the mistakes of other fund managers, greed, and how irrational expectations lead to zero returns.

00:06:43 - Danish’s Journey: M&A, BlackRock, and Crypto Discoveries Danish shares his backstory, from working at Ernst & Young and BlackRock during the 2008 financial crisis to discovering Bitcoin through the Silk Road.

00:09:49 - Building the Paper Fund: Early Successes They talk about how Paper Adventures started, the successful timing of their fundraising, and early wins like YGG and Frax Finance.

00:12:00 - The Importance of Taking Profits and Managing Funds Discussion on how Paper Ventures approached deals differently, emphasizing the importance of taking profits and managing a smaller fund effectively.

00:14:00 - Raising Funds and Dealing with LPs (Limited Partners) Danish explains the difference between raising equity and LP money, and the dynamics of choosing the right LPs.

00:16:04 - Managing a Smaller Fund: The Advantages Oliver shares insights on why managing a smaller fund allows them to be more agile, cherry-pick deals, and avoid the pitfalls of larger funds.

00:18:19 - Common VC Mistakes: Twitter and Overconfidence Oliver discusses the biggest mistakes VCs make, like spending too much time on Twitter and failing to do proper diligence.

00:19:28 - Founder Red Flags: Spotting the Ego The team shares their approach to evaluating founders, emphasizing the importance of humility and self-awareness.

00:23:00 - Supporting Founders: Hands-On Involvement How Paper Adventures supports their founders, even those they don’t invest in, and why that builds strong relationships in the industry.

00:29:02 - The Paper Ventures Brand: Authenticity and No BS What Paper Ventures stands for—authenticity, being hands-on, and never sugar-coating anything for the sake of appearances.

00:35:17 - Evaluating Founders: Picking Up the Right Vibes The team explains how they evaluate founders beyond the pitch deck, focusing on the vibe and whether they’d want to work with them daily.

00:40:34 - Quick Deal-Making: A Lesson from Limitless Network A high-stakes story of how Oliver closed a deal for Limitless Network by leveraging his expertise and network within the gambling industry.

00:47:43 - Learning from Mistakes: Failing Fast and Moving Forward Both Oliver and Danish share their biggest mistakes and lessons learned from trusting bad deals, SAFs that haven’t launched, and poor financial oversight.

00:55:01 - From Rock Bottom to Redemption: Oliver’s Personal Story Oliver opens up about his journey from being a successful poker player, losing everything to drugs and bad decisions, and building himself back up.

01:03:00 - What's Next for Venture Capital in Crypto? The team gives predictions about the future of crypto VC over the next 6–12 months, including how the upcoming U.S. elections might impact the space.

01:04:45 - Final Advice for Founders: Do Your Homework Advice for first-time founders pitching VCs: the importance of doing your homework on the venture firms before the pitch.

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