Full $FB earnings breakdown, NFT company violates music IP + Behind Genius' Paige Finn: Angel S6 E4 | E1377

This Week in Startups

Jason Calacanis

Technology

4.4 • 1.3K Ratings

🗓️ 4 February 2022

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the opening news segment, Molly and Jason break down the numbers behind Facebook's colossal drop in market cap (2:42). Then, they cover a company that seems to be violating music copyrights to sell NFTS (38:14).

Then, Paige Finn of Behind Genius joins for Episode 4 of Season 6 of Angel (49:45). Paige became interested in venture capital during college, but within a year and a half of graduating in 2020 she already has a fund!

In this episode you will learn:

1. How she secured her first allocation before having a fund

2. The steps she took to set up an SPV while being a non-accredited investor

3. How she raised a $1.6m fund

4. Behind Genius' investing thesis and strategy

5. The books that have most influenced her work and writing style

6. Why she wrote a picture book (for adults) called "Seed to Harvest: A Simple Explanation of Venture Capital"

00:00 Jason & Molly introduce the show
02:42 Facebook's painful $220B market cap drawdown
07:32 Is blaming Apple
10:29 LinkedIn - Post your first job for free at https://linkedIn.com/twist
11:37 "This is one of the most hardcore hits I've ever seen in business"
14:11 Would Zuckerberg leaving hurt the company even more?
17:33 Do rebrand's ever really work?
20:08 Embroker - Get an extra 10% off insurance for your business at https://Embroker.com/twist
21:29 Could Facebook have been a successful hardware operator?
25:03 Breaking down the numbers around Meta's future business
30:32 Ourcrowd - Check out the deal of the week at https://ourcrowd.com/twist
31:51 Is there a solution for Zuckerberg?
36:28 How Jason's divorced friends use Instagram
38:12 NFT site "Hitpiece" accused of trying to sell songs without consulting original artists
49:44 Interview - Paige Finn of Behind Genius
52:02 How Paige learned about VC in 2018
55:28 Behind Genius' investing thesis and strategy
1:00:05 How Paige set up an SPV while being a non-accredited investor
1:10:11 How her book "Seed to Harvest: A Simple Explanation of Venture Capital" helped her gain credibility
1:13:51 Paige's most influential books
1:23:09 Paige's day to day life as an investor
1:33:55 Plugs from the TWIST team

Check out Behind Genius Ventures: https://www.behindgeniusventures.com

FOLLOW Packy: https://twitter.com/paigefinnn

FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood

Transcript

Click on a timestamp to play from that location

0:00.0	Hey, everybody. It's another amazing episode of this week and startups and the Angel podcast.
0:04.0	So you can search for Angel podcast as well and find a bunch of religious people talking about
0:09.0	God and angels in the world. Or if you type Angel Cali-Cat, I shall find this podcast. It's season six
0:15.3	and Page Dirty is an amazing guest. She runs behind Genius Ventures. She just graduated two
0:22.1	years ago in 2020. So yeah, the world has changed. People are coming out of college and starting
0:26.5	their own venture capital funds. She wrote a children's book, demystifying venture capital. I
0:31.7	kid you not an amazing guest. Love everything about it. But first we are going to cover the news
0:37.0	because a big day at the stock store Facebook and Meta's stock was down something like 24%
0:45.7	at 1.26% after rough earnings, in which they project a $10 billion loss. Jason, by the way,
0:51.3	if you are not watching the video is just covering his eyes from the sheer murder that was
0:57.6	hard to watch. I mean, it's just watching somebody get just absolutely beat up. Is it though?
1:02.1	Is it hard to watch? No, it's actually quite enjoyable for me. It's quite, it's just like, yeah.
1:07.0	Then, then we're going to follow up on our intellectual property conversation about
1:13.0	respecting other people's work in the world in art with an absolutely insane NFT project called
1:19.3	Hitpeace. That is a choose and apparently is based on their apology stealing NFTs based upon
1:28.8	Britney Spears or Taylor Swift's music without permission and then selling it just more horrible
1:34.8	behavior in the IP space. And we're going to teach people in this quick segment how to be decent
1:41.9	human beings. It is going to be a great and very informative show. Stick with us.
1:49.3	Season 6 of Angel is brought to you by linked in jobs. A business is only as strong as its people
1:57.7	and every higher matters. Post your first job for free at linkedin.com slash angel.
2:05.2	The Embroker Startup Insurance Program helps start up secure the most important
2:09.9	types of insurance at a lower cost and with less hassle. Save up to 20% off traditional
	...

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