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

*Author: Ryan Sean Adams, David Hoffman*
*Published: Aug 14, 2023*
*Source: https://www.bankless.com/fr/podcast/1conf*

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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.

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## 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

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## 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