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

Today on the Pod, we're discussing Why VCs Suck. And who better to answer that question than VCs themselves? 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. ------ ✨ DEBRIEF | Unpacking the episode: https://www.bankless.com/debrief-1conf ----- 🏹 Airdrop Hunter is launching TOMORROW  https://bankless.cc/HuntersGonnaHunt  ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE ⁠https://k.xyz/bankless-pod-q2 ⁠  🦊METAMASK PORTFOLIO | MANAGE YOUR WEB3 EVERYTHING ⁠https://bankless.cc/MetaMask  ⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum ⁠  🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ⁠  👾POLYGON | VALUE LAYER OF THE INTERNET https://polygon.technology/roadmap  🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/Toku  ----- Timestamps 0:00 Intro 6:00 Nick and Richard from 1Conf 7:20 The Price Cycle 11:50 The Signal Cycle 15:55 Tourist vs Purist 20:00 Why Do VCs Suck? 28:15 Raising vs Returning 32:40 How Transparency Shapes Crypto 38:30 VC Report Card 43:45 Holding Retail Accountable 48:30 Advice for Retail 51:15 How to Not Be Exit Liquidity 59:00 Should We End VCs? 1:03:10 How 1Conf Works 1:07:40 Crypto Native VCs 1:12:30 Looking to the Next Cycle 1:17:08 Prediction Markets 1:20:00 Crypto is Ready 1:24:00 Actually Using Crypto 1:28:20 L2s vs Alt L1s ----- Resources Nick Tomaino https://twitter.com/NTmoney?s=20  Richard Chen https://twitter.com/richardchen39?s=20  1confirmation https://www.1confirmation.com/  Richard's Article https://showerthoughts.substack.com/p/thoughts-on-the-current-crypto-vc  ----- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠