183 - Why VCs Suck | 1confirmation's Nick Tomaino & Richard Chen

<p>Today on the Pod, we're discussing Why VCs Suck. And who better to answer that question than VCs themselves?</p> <p>We're joined by Nick Tomaino and Richard Chen of 1Confirmation to discuss the role of VCs in crypto, the outlook on the markets, and how retail should prepare for the next cycle.</p> <p>------<br /> ✨ DEBRIEF | Unpacking the episode:<br /> <a href= "https://www.bankless.com/1conf">https://www.bankless.com/debrief-1conf</a><br /> -----<br /> 🚀Join Ryan & David at Permissionless II in September.<br /> <a href= "https://bankless.cc/GoToPermissionless">https://bankless.cc/GoToPermissionless</a> <br /> ------<br /> BANKLESS SPONSOR TOOLS:</p> <p>🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE<br /> ⁠https://k.xyz/bankless-pod-q2 ⁠ </p> <p>🦊METAMASK PORTFOLIO | MANAGE YOUR WEB3 EVERYTHING<br /> ⁠https://bankless.cc/MetaMask </p> <p>⚖️ ARBITRUM | SCALING ETHEREUM<br /> ⁠https://bankless.cc/Arbitrum ⁠ </p> <p>🛞MANTLE | MODULAR LAYER 2 NETWORK<br /> https://bankless.cc/Mantle ⁠ </p> <p>👾POLYGON | VALUE LAYER OF THE INTERNET<br /> <a href= "https://polygon.technology/roadmap">https://polygon.technology/roadmap</a> </p> <p>🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION<br /> <a href= "https://bankless.cc/Toku">https://bankless.cc/Toku</a> <br /> -----<br /> Timestamps</p> <p>0:00 Intro<br /> 6:00 Nick and Richard from 1Conf<br /> 7:20 The Price Cycle<br /> 11:50 The Signal Cycle<br /> 15:55 Tourist vs Purist<br /> 20:00 Why Do VCs Suck?<br /> 28:15 Raising vs Returning<br /> 32:40 How Transparency Shapes Crypto<br /> 38:30 VC Report Card<br /> 43:45 Holding Retail Accountable<br /> 48:30 Advice for Retail<br /> 51:15 How to Not Be Exit Liquidity<br /> 59:00 Should We End VCs?<br /> 1:03:10 How 1Conf Works<br /> 1:07:40 Crypto Native VCs<br /> 1:12:30 Looking to the Next Cycle<br /> 1:17:08 Prediction Markets<br /> 1:20:00 Crypto is Ready<br /> 1:24:00 Actually Using Crypto<br /> 1:28:20 L2s vs Alt L1s</p> <p>-----<br /> Resources</p> <p>Nick Tomaino<br /> <a href= "https://twitter.com/NTmoney?s=20">https://twitter.com/NTmone