20VC: Investing In The Next Frontiers Of Tech & Harry Potter with Adam Draper, Founder & CEO @ Boost VC

Adam Draper is a fourth generation venture capitalist and the Founder & CEO @ Boost VC, a specialised seed stage accelerator that invests in blockchain and virtual reality startups. Before starting Boost, Adam angel invested in 20 companies including Coinbase, Plangrid and Practice Fusion. During his angel investment period, Adam was also the Founder of Xpert Financial in his aim to revolutionise the financial markets for private companies. We would like to say a special thank you to Mattermark for providing all the data used in the show today and you can check out Mattermark Search here! In Today's Episode You Will Learn: 1.) How Adam made his way into startups and the investing industry? 2.) Why is Adam so bullish on the topics of bitcoin and virtual reality? 3.) What are the fundamental use cases for bitcoin and why have we not seen mass adoption on a global scale so far? What are the barriers to adoption? 4.) What is the investment attitude to the bitcoin and VR space? Does the volatility of the price in bitcoin affect the level of investment going into the sector? 5.) What would Adam like to see more of in the space? What is he most excited for and where does he see the most potential? Items Mentioned In Today's Episode: Adam's Fave Book: The Name Of The Wind Adam's Fave Blog: Mugglenet Adam's Most Recent Investment: Joystream As always you can follow The Twenty Minute VC, Harry and Adam on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session, you can follow him on Instagram here!

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Harry Stebbings?

  Welcome back to the 20 Minute VC with your host, Harry Stebbings. And for all of you who enjoyed the more conversational and lighthearted interview we had with Ariel Zuckerberg last week, then we have another peach for you today. With the follow on from our feature of Draper Father and Son Week, I'm delighted to welcome Tim's youngest son, Adam Draper, to the show today. Adam is the founder and CEO at Boost VC, a seed stage accelerator focusing on virtual reality and the blockchain space, of which we will hear much more from Adam in the show. And I have to say two quick things before we delve in. First, this was officially the best and most fun quickfire round I think I've ever done in about 120 episodes so far. It really is a must listen, one of the greats there.

• 0:44Harry Stebbings?

  And then I have to also say that I went to see Boost itself yesterday. And wow, what an immense setup Adam has built there and huge credit to him and the team. I was so impressed with the quality of the portfolio companies and some very exciting stuff coming from the latest tribe, so stay tuned for those. We'd also like to tip our hats to the kind folks at Matamark for providing all the data and analysis used in the show today. Quite simply, where would we be without Matamark? And for all those who prefer the longer form articles, then subscribe to Matamark Daily from my good friend Nick Frost at Thinker on Twitter and never miss out on the best startup and VC articles. But now it's time to dive into the show. So without further ado, ladies and gents, I'm delighted to welcome Adam Draper, founder

• 1:29Harry Stebbings?

  and CEO at Boost VC.

• 1:37Speaker 01

  You have now arrived at your destination.

• 1:40Harry Stebbings?

  Adam, welcome to the 20 Minute VC. It's an absolute pleasure to have you on the show as part of this very special Draper Father and Son Week.

• 1:48Speaker 02

  Yeah, thanks for having me. This is fantastic.

• 1:51Harry Stebbings?

  Now, can you get the ball rolling by telling us a little snapshot of yourself and how you've come to be at Boost VC today?

• 1:58Speaker 02

  Out of UCLA, I founded a startup called Expert Financial, where we were trying to help later stage companies raise capital online, something like Second Market or Shares Post, where we were helping later stage companies trade private securities. Essentially, like over the course of four years, made every mistake known to man, product mistakes, hiring mistakes, firing mistakes.

• 2:22Speaker 02

  And fundraising mistakes and I found that I had gained it and I learned from those mistakes. And I had I gained a specific knowledge base that was able to help me uh help early stage startups come up with their ideas, uh build their products and raise capital. Um and I actually helped one of my friends come up with their idea about the product and raise capital. And I found it very fulfilling. And so I realized I wanted to make that a bigger part of my uh career. And so I ended up leaving Expert uh after about four years of being there and founded what ended up becoming uh. Well, I wanted to be able to mentor companies in bulk. And at that time, that was called an accelerator, which is about three years ago.

• 3:05Speaker 02

  Yeah, since then, at Boost VC, we've we've uh run six tribes. We call them tribes. Uh they're three month programs where we provide housing, office space, and we invest in companies. And we've invested in about a hundred and twenty companies.

• 3:21Harry Stebbings?

  Is there something in the Draper family water that in just entices you to the industry? What is it about it that really got you so fascinated? Was it the ability to scale your time to work with the startups?

• 3:32Speaker 02

  Yeah, I mean, it's really interesting. Uh each generation of of sort of the Draper family, I would say, added some a different flair to the venture model. Whether it be like, you know, my my grandpa and my great grandpa were sort of first investors out on the West Coast around Stanford University. He tells a really fantastic story, by the way. His book, The Startup Game, is really good. He would like me to plug that. Then and then my grandpa was also the the first venture uh fund to go to India with Draper International. He he had a tendency to go where no one was looking.

• 4:10Speaker 02

  And then my my dad was actually the first fund to uh he created this uh Draper Network, DFJ Network, where they had smaller funds all over the world where they were able to actually see deal flow from all over the world. And I'm I'm really the first where we're not going global. We're bringing people to the United States in order to uh train them in specific industries, such as blockchain and virtual reality is where our our focuses have been. Just as as a family, um. We really like helping people get to wherever they want to go and assisting, sort of giving them the

• 4:48Speaker 02

  basic resources and just energy and legitimacy they need to be able to get to the next level. And it's been, yeah, it's just, I don't know, we like, it's a really fun thing. We get to help people live their dream essentially, which is trying to change the world in some way. And so it's just, that's sort of a fun thing.

• 5:09Harry Stebbings?

  That then led you obviously to the creation of Boost. And for those that maybe don't know, can you provide a little background on Boost? I mean, how big's the fund? Maybe what's your average ticket and what's the preferred sector?

• 5:21Speaker 02

  It's an accelerator program, so we do two tribes a year, two sessions a year. Uh, they're three months, they're three months long, uh, where we provide housing, office space, and we invest in the companies and we invest between ten and twenty-five thousand dollars to twenty-five companies twice a year. So we do about fifty deals a year. Um, in, in this model where we provide housing and office space. Current fund, so I've raised two funds and the first one was smaller, but my current fund was about six point six million dollars and that'll invest in about two hundred companies. Hundred and eighty companies.

• 5:57Harry Stebbings?

  How did you find the fundraising experience as a, as a young VC?

• 6:02Speaker 02

  Uh, I, I think it was about as fun as if you're raising as anyone else. It's not a very fun process. What I really do enjoy about fundraising, um, is actually, if you think about it as getting to meet people, you end up getting to meet a lot of really interesting people all over the world. It was, my, my specific one was a real grind. I, uh, so it took me twelve months to raise my money. Uh, so, so from when I opened to raise money to, to close, it was like, no. Back in 2013 to November 22nd, 2014, and I closed 6.6 million bucks. I had to, I reached out to probably 3,000 investors.

• 6:43Speaker 02

  I ended up meeting with about 350 and I ended up closing with about 35 investors. And so it was about a rule of 10 for me to end up raising my fund. So it was a grind.

• 6:55Harry Stebbings?

  And most of the LP's VCs themselves, are they kind of family offices? Where did you position yourself with them?

• 7:02Speaker 02

  So it was a, it's a breakdown of venture capitalists, hedge, I have like one or two hedge fund related people. A lot of just individuals who are, whether they're interested in future technologies such as blockchain or virtual. Yeah, that sort of summarizes almost all of them.

• 7:20Harry Stebbings?

  And then what's Boost VC's preferred sector and geographies? You alluded to Bitcoin that, but what would you say their preferred sector and geographies are?

• 7:28Speaker 02

  Yeah, so it's definitely, we outwardly say blockchain and virtual reality, which blockchain basically means Bitcoin. It encompasses Bitcoin or fintech that relate to the blockchain and virtual reality. And so we've taken this methodology of verticalizing our industries. What we do really, really well at Boost VC is if you, if you look at our value add, it's we instill companies with a network of investors and entrepreneurs in the heart of Silicon Valley. Yeah, so that's, that's basically what we do really, really well. And so we verticalize the industries that we end up doing, which are blockchain.

• 8:09Speaker 02

  So we've built out a great ecosystem of entrepreneurs and investors in that network over the last two and a half years. And recently, we were really excited to announce that we were adding virtual reality as another industry that we're, we're building a huge network of investors and entrepreneurs around.

• 8:26Harry Stebbings?

  And obviously, looking at your portfolio, and as you just said, you are quite heavily invested in blockchain. I think in the Medium post you did about the stats of Boost, it said 52 investments in the space. That might have changed now, I'm not sure. But what, what is it specifically then that has got you and has, is getting you so excited about blockchain? What, what do you really see the potential for blockchain being?

• 8:50Speaker 02

  So, you know, as an accelerator, we invest in, in future tech. Um. And the industries that we choose to really throw our weight behind. I mean, they're a li- little crazy, but they have to be world changing industries. And so we've really decided and taken time uh to to pick uh blockchain and virtual reality over the last couple of years because I believe blockchain will fundamentally change the way uh everyone on the planet interacts with money. And it's that it takes a lot of the friction out of all transactions, which is a very, very exciting thing. Um. Not only um, you know, currency based transactions, but also contract based and

• 9:32Speaker 02

  any transactions that happen throughout the world. It's a hugely uh, you know, time creation technology. Uh. And I'm I I we're just really, really excited about it. We've been in the blockchain Bitcoin space for about three years now. And we have watched as the entire industry has evolved to being much more mature, higher qual- like really great products, higher quality products. And everyone's really tr- starting to rather than rather than the the companies think, oh, it's, you know, I it's cool to use Bitcoin or it's cool to use blockchain. Like, they're actually applying this useful tool to solving real world problems, which is very exciting.

• 10:13Harry Stebbings?

  And have you managed to persuade your father that blockchain's the way forward now?

• 10:16Speaker 02

  Oh, yeah. Well, uh, he he's definitely hugely bought into uh huge advocate of Bitcoin and the blockchain. I I would say the difference between us is that he likes using the word Bitcoin more than blockchain. And I have recently converted to using the word blockchain, even though I really just I mean Bitcoin ninety percent of the time.

• 10:37Harry Stebbings?

  Okay, so can you help us out here? We hear Bitcoin blockchain a lot. The way I see it is blockchain is the kind of algorithms and code and the infrastructure behind Bitcoin. Am I right?

• 10:48Speaker 02

  Yeah, that's essentially what it is. So Bitcoin is the first application on the blockchain and that application relates to currency. And the blockchain is this ledger and of every transaction that has ever happened in that currency. But it doesn't only need to relate to Bitcoin. It can also relate to smart contracts. It can also relate to digital assets. You can transact anything in this new tool called the blockchain and it's all encompassing. But Bitcoin specifically is relating to the currency.

• 11:24Harry Stebbings?

  And then what do you think the main implementation challenges are for Bitcoin and blockchain? What's going to stop them potentially becoming this world beating product?

• 11:33Speaker 02

  So a lot of people would say it's regulation. I actually think regulation is good because it legitimizes it. Like every time the US government makes a new rule about Bitcoin or the blockchain,

• 11:45Speaker 02

  more people get interested in it rather than shy away from it because it feels like it's more and more endorsed by the government. What's halting adoption? It's really being useful. Really, if you if you do like boil down what the usefulness of Bitcoin is right now, it's, you know, border to border transfer of money. It can be a third the cost and one fifth the time of sending money today with with this new technology, which is really, really exciting. And so that's one of the major use cases that a lot of companies have been getting a lot of hype about. Microtransactions, so the ability to send small tiny amounts of money rather than like liking a post on Facebook.

• 12:28Speaker 02

  You could tip people a small amount of money and that isn't possible today with the current financial payment structure. The the third thing is a store for emerging companies, emerging governments and countries. So like Argentina assumes thirty percent inflation every year and so they don't want to hold the Argentine peso.

• 12:50Speaker 02

  They can figure out with Bitcoin a way to hold US dollars or hold Bitcoin or hold some other different currency that doesn't lose the value. And so just to store value for different, you know, inflationary economies is sort of a big deal also. So if you boil down everything in the Bitcoin ecosystem, it would fall under those brackets. If you boil everything into the blockchain ecosystem, it would be smart contracts, digital assets, and currency-based stuff. So that's everything. Those are the value adds in the ecosystem. And so companies really just need to quadruple down on where the true value is.

• 13:28Harry Stebbings?

  And how long do you think it will be before mass, large-scale adoption of Bitcoin will take place?

• 13:34Speaker 02

  I think it's going to be something where you don't notice that all of a sudden every transaction you're doing is on top of the blockchain or by using Bitcoin's payment channels. I think more transactions are happening with it than people realize right now. And timeframe-wise, I think five years. You know, it's amazing how many people have cell phones now. Like, we have like 3.2 billion people who are hooked up to the internet now, or it might even be more than that now. All of those people have access to the internet, and they might not have a very simple way of transacting money on the internet. And Bitcoin is a very simple way to get that to happen. Time-wise, I don't want to, I said five years, but I don't want to make a specific guess.

• 14:18Speaker 02

  Sometimes it takes longer, sometimes it takes shorter. I do see the tides rolling in, and I'm still a true believer that it is probably one of the most revolutionary technologies that's in existence today.

• 14:33Harry Stebbings?

  And what's the investor attitude at the moment like to the Bitcoin ecosystem? Is it very vibrant and enthusiastic, or is it dampening slightly?

• 14:42Speaker 02

  I mean, the common phrase is, "Oh, I'm not interested in Bitcoin, but I really love the blockchain."

• 14:51Speaker 02

  And and to me, they're they're completely.

• 14:54Harry Stebbings?

  Integrated.

• 14:55Speaker 02

  Everyone's they're very integrated and they're very similar. The it's one can't exist without the other. Uh, because the Bitcoin system is the incentivized system to help the ledger stay oper- in operation. Because the ledger is powered by all these computers called miners uh that are distributed all over the world. There's something like two hundred thousand people who are hooked up to this network, who are powering this huge transactional thing. Whenever they say that, I I'm sort of thinking like, well, technically, you do believe in Bitcoin if you're believing in the blockchain. But I understand what you're saying. You you wanna not deal with the currency. You wanna deal with assets, which is perfectly fine.

• 15:32Harry Stebbings?

  But with the popularity of Bitcoin and blockchain, are you seeing um bubble like valuations for the startups? Because it is quite a hot sector at the moment.

• 15:41Speaker 02

  I mean, if I would say some companies are really being like able to raise a lot of money. But most of those raises raises are based off of previous entrepreneurs or who have like previous relationships. Yeah, like i- i- it's one of those things where mo- most of that has been from past entrepreneurs who are really excited. Like people who have founded companies in the past were really excited about the blockchain or Bitcoin. And then they go and they get some traction and then they're able to prove what their theory was was correct. And so they get some more money because they're trusted in the the venture ecosystem, I would say. Bubble like uh but I I think uh in general, pretty fair as far as the industry.

• 16:22Speaker 02

  Just because like if you make the assumption that Bitcoin and the blockchain will rule the world. Like paying the valuations that people are paying are perfectly reasonable.

• 16:30Harry Stebbings?

  And then when if we take a step back then, looking at your portfolio now, what would you like to see more of?

• 16:36Speaker 02

  Yeah, I I'd really love to see more of the, you know, we we invest in the the future. I'd love to see more crazy stuff, uh not incremental changes. I wanna see like uh I wanna see people pitching me space Bitcoin virtual reality stuff like I I. I I don't I don't, yeah, incremental changes aren't really enough, especially for what. We are trying to do, which is launch these new incredible verticals. Well, you know, we look at drones, we look at, you know, biohacking, we look at artificial intelligence. It's all the stuff that is on the cusp of having huge breakthroughs and might not necessarily have found the mass adoption piece yet.

• 17:19Speaker 02

  Um. And so those, those are the things that we really push forward. So I just wanna see, you know, we, we've done everything. So we, we do have a majority of our investments in blockchain. And then we have a significant number of investments in virtual reality, but um, there are still a significant number that are uh, in the range of auditing software to rockets. And so we do invest in like literally like the spectrum. Um. However, we really are trying to focus on these emerging technologies, uh, these, this frontier tech. Uh, that we're, that we're really excited about.

• 17:53Harry Stebbings?

  And where do you see a lot of people investing where you think is a mistake? Is it in incremental kind of, you know, picture messaging apps or where do you think it's a mistake at the moment to be investing?

• 18:03Speaker 02

  So I would say in the angel investing world, I don't wanna say it's for a mistake to allow an entrepreneur to try to pursue their like dream. At our stage, you're making such a bet on the person, you know, whatever they're working on, they truly believe what they're saying. And they truly believe that their idea over the next seven to 10 years is gonna change the world. I don't, I don't believe it's really a, a mistake. I think so. Sometimes it's just, you know, some companies are early, some companies are later. I, I would just. I, I, I just think incremental technology uh, breakthroughs uh, are, are not as impactful to the world, but they still provide a service.

• 18:41Speaker 02

  There, a lot of them can be huge money-making company. For what we do, we are really trying to push the envelope on what's possible, rather than like what could potentially be a good business.

• 18:52Harry Stebbings?

  And then we're gonna move into a quick fire round now where I say a short statement.

• 18:56Speaker 02

  Sure.

• 18:57Harry Stebbings?

  So this one's a surprise one, uh it's not on your schedule and it's from a a fan of the show, I think, well, I hope. Uh and his name's Tim and he asked you, when you last played chess and tennis, uh who won? Was it your father or was it you?

• 19:13Speaker 02

  Oh my god, I'm so mad. Uh okay, so so tennis was me, yeah, I I won tennis, but.

• 19:21Harry Stebbings?

  Was it close?

• 19:22Speaker 02

  It was good, it was a good match. I I I caught my dad on an off day, I think.

• 19:28Harry Stebbings?

  Okay.

• 19:30Harry Stebbings?

  And chess?

• 19:31Speaker 02

  And then chess, uh yeah, my dad beat me and it was, we played three games and he beat me all three, which uh normally it's not like that and I was. He was in the zone and I wasn't, so I uh, yeah, he he's been, I need to play him again. We just played like a couple of days ago, so that that that is a very fresh wound.

• 19:52Harry Stebbings?

  Yeah, that he suggested it yesterday, so there we go.

• 19:56Harry Stebbings?

  Um and then the best piece of advice you've ever been given.

• 20:00Speaker 02

  So I I sort of have two, ones from my sister, ones from my dad that I I think about a fair amount. One is do something out of your comfort zone once a day. Uh so you just try to drive yourself to, it's not, it's it's not like you you need to be uncomfortable with it, but it should be pushing your limits a little bit, that's how I think of it. And then. Uh my dad, uh whenever he says when you're making a deal, uh you always want both sides of the table to be uh happy at the end of the deal. And so it's, you know, it's it's sort of a method where you want what you want, but you should cave on some things to make both sides happy.

• 20:34Harry Stebbings?

  Your most read blog or newsletter?

• 20:36Speaker 02

  Uh MuggleNet, the Harry Potter blog? No, the uh I'll I'll say, I probably read TechCrunch the most uh of of any of the the blog blog publications.

• 20:47Harry Stebbings?

  What is what is MuggleNet?

• 20:52Harry Stebbings?

  Are you a Harry Potter fan?

• 20:54Speaker 02

  I'm a huge Harry Potter fan.

• 20:55Harry Stebbings?

  Are you? Okay, thi- this is a secret and I'll cut this out actually, but um I live next door to him.

• 21:01Speaker 02

  Oh, really? That's crazy. Uh, no, I'm like a huge Harry Potter fan.

• 21:05Harry Stebbings?

  Would you like a signed book?

• 21:07Speaker 02

  I would love a signed book.

• 21:08Harry Stebbings?

  Right, okay, I'm I'm writing it down now. I'll send you a signed book.

• 21:12Speaker 02

  I I was asked to go speak in Scotland, um and she, J K Rowling lives in Scotland.

• 21:18Harry Stebbings?

  Yeah.

• 21:18Speaker 02

  And so I'm, it's sort of out of my way, but I really wanna meet J K Rowling, so I'm like, it's in Edinburgh.

• 21:26Harry Stebbings?

  Edinburgh is the V C hub. I mean, it's it's where all the L P's are. I mean, you've got to go.

• 21:30Speaker 02

  Is it really? Oh, well, then maybe I should go.

• 21:32Harry Stebbings?

  No, I'm I'm joking.

• 21:35Speaker 02

  Yeah, exactly.

• 21:36Harry Stebbings?

  But it's worth it to meet her.

• 21:37Speaker 02

  Yeah, well, I don't know if I get to meet her. I'm just thinking like, hey, I bet they have some sort of Harry Potter tour that I could go on. I don't know. It's, yeah, I I really like.

• 21:46Harry Stebbings?

  You should go to the World of Harry Potter in Florida, you know?

• 21:49Speaker 02

  Yeah, I I have not been there yet. Actually, they're building one in L A, which I'm really excited about. I I really wanna go. I was invited with a friend and I ju- the timing just didn't make it.

• 21:57Harry Stebbings?

  Well, I will I will send you the signed book. There we go.

• 22:01Speaker 02

  Uh, thank you. I really appreciate that. That is awesome.

• 22:03Harry Stebbings?

  You give up your time, I'll give you a signed book. There we go.

• 22:06Speaker 02

  Yeah, love that.

• 22:07Harry Stebbings?

  Now, now we've found out that you like Muggle net. Shall we dive back into the interview?

• 22:11Speaker 02

  Yeah, sure. Okay, go, go.

• 22:13Harry Stebbings?

  So, okay, who is a thought leader to you then in the industry?

• 22:16Speaker 02

  Okay, so if you're going non-family, first off, my dad, I actually truly believe, uh, he has this way of seeing things that other people don't, uh, and it's, you know, the, he's able to identify the the crazy insane idea that looks like a toy or something that could eventually be able to change the way people think. Uh, and so I, you know, I'll I'll stick with him because I I I really do, uh, think he's a huge thought leader just in the space and he should be. He's been doing this for thirty years, so.

• 22:50Harry Stebbings?

  And then tell us something that the public doesn't know about you.

• 22:55Speaker 02

  You know what's so funny? I I I would normally, I would normally just say, you know, tha- tha- that I played tennis in Australia between high school and college, but I was just asked a question about tennis. Um.

• 23:07Harry Stebbings?

  So that doesn't count?

• 23:09Speaker 02

  So tha- tha- that can't count. Uh, I, okay, what I will say that the public probably doesn't know about me is, my co-founder and I are probably two of the best super smash brothers for N sixty four video game players on earth.

• 23:22Harry Stebbings?

  Oh, wow.

• 23:23Speaker 02

  Yeah, so.

• 23:25Harry Stebbings?

  That is a truly exceptional thing to be good at, though. I, I, you know, credit to you for that.

• 23:30Speaker 02

  Yeah, yeah. So we we we we logged a little bit of time on the, on that, that console and that's sort of how we. When, when we founded Boost VC together, Bra- Brayden Williams is his name and I, when we would take, you know, throughout the day, you do all this work and then you want a fifteen minute break. Our fifteen minute breaks were super smash brothers, so.

• 23:50Harry Stebbings?

  Nice to know what happens at Boost.

• 23:52Speaker 02

  Yeah, no, no one gets any work.

• 23:54Harry Stebbings?

  No one does anything. Screw Bitcoin, we got Smash Brothers.

• 23:57Speaker 02

  Exactly.

• 23:58Harry Stebbings?

  And then your favorite book and why?

• 24:01Speaker 02

  So I, I mean, just going on the Harry Potter thing, I've read all the Harry Potters many, many times and gone to all the releases. However, I will say right now, I'm, uh, I've reread this one other book. I I'll stick away from Harry Potter for this one other book, which is called The Name of the Wind by Patrick Rothfuss. The way it's written is just a really, really interesting thing. I like fantasy and sci-fi. I like sort of picking out, a lot of people like, uh, you know, business books and I try, I try to pick up business lessons from other books. So like Ender's Game, I think is one of the best books on leadership, even though it's not technically a leadership book at all. Uh, like that, I try to pick out themes that are running throughout the stories uh, and try to find, learn things from the experience of the characters and

• 24:46Speaker 02

  I just really love all of the concepts in this book, Name of the Wind, so I highly recommend it.

• 24:52Harry Stebbings?

  And then finally, what's your, uh, most recent investment may be a little tricky because you do it in tribes. What investment are you most excited by and why?

• 25:00Speaker 02

  So I, it's like picking children, um.

• 25:03Harry Stebbings?

  It is, it is, but your father picked, so, well, picked investments, so I mean.

• 25:08Speaker 02

  He did? Who did he pick?

• 25:10Harry Stebbings?

  Um, not, not children, investments.

• 25:14Speaker 02

  No, I meant investments.

• 25:15Harry Stebbings?

  Oh, Jerry, good. I was about to say, no, you didn't pick your children. That would have been incredibly hard.

• 25:19Speaker 02

  Okay, so as far as most excited, you know, I I don't I don't I really don't like picking. I'll I'll I'll say like a couple of really interesting concepts that I really hope get built to fruition. Um, because of just of the methodology that we use, we really want the essentially the market to decide uh which companies are really uh exciting for the world. I really, we we have one company uh i- in this uh tribe that's called Joy Stream run by a solo founder who is trying to merge uh two technologies that have never been merged before, which is uh the peer-to-peer technology of BitTorrent with the peer-to-peer technology of Bitcoin.

• 26:02Speaker 02

  So basically incentivized BitTorrent so you could essentially legitimize the BitTorrent space by being able to pay people for uploading uh their content. And so, I don't know, I I think it's weird. I think it's really interesting. I think it's uh pushing the limits of like what's possible, which fall into most buckets that I'm I would be excited by. I'm, by the way, I'm really excited about a lot of our portfolio companies. I just wanted uh just for the sake of this show, I wanted to pick one.

• 26:30Harry Stebbings?

  Well, Adam, thank you so much for coming on the show today. Obviously, I've hugely enjoyed chatting with you. Um, and it's been such a pleasure. Thank you.

• 26:37Speaker 02

  It's been really, really great. Thanks a lot, Harry.

• 26:40Harry Stebbings?

  Now, do you agree with me in stating that that was the best quickfire round we've ever had? It was certainly the most entertaining for me, and I'd like to say a huge thank you to Adam for giving up his time today to join me on the show and sharing his incredible story with Boost. And if you're loving the Twenty Minute VC, then head over to thetwentyminutavec.com where you can sign up for our newsletter so you never have to miss an episode or an update. Likewise, you can follow us on Twitter at Twenty Minute VC, all in letters, or follow me on Twitter at Harry Stebbings with two Bs. As always, it's been such a pleasure bringing you today's episode. It really is the best job in the world, and I'm so grateful for all your support. Thank you so much, and we look forward to bringing you Founder's Friday.