Stanford professor and financial reform advocate Anat Admati joins Jim to unpack the growing fragility in our financial system and the dangerous myths still shaping public policy. From shadow banking and corporate debt subsidies to crypto hype and post-crisis denial, Admati pulls no punches in exposing the deep structural flaws threatening American capitalism.

They discuss why financial regulations continue to fall short and what real reform would look like. Admati explains how public anger after 2008 was hijacked by dangerous narratives, why crypto's promise is largely a mirage, and how shadow banking adds new layers of systemic risk. She makes the case for genuine accountability—in both government and the private sector—and warns of the moral cost of allowing “profitable misconduct” to persist.

This is a candid conversation about fragility, power, truth—and what it will take to rebuild a system that actually serves society.

Ep. 103 — Anat Admati on Financial Fragility, Accountability, and the Future of Capitalism

Jim Armstrong from March Capital shares insightful stories about his path to becoming a venture capitalist. Armstrong takes us through his experience starting out with Idealab, reflects on lessons from Overture and its sale to Yahoo, describes being at the ground level of Paypal, and talks about the evolution of Southern California as a tech hub.

Brandon Baer's Album

Episode 1: Jim Armstrong from March Capital Partners

Mark Mullen from Double M Partners and Bonfire Ventures imparts stories and lessons he learned while working for the father of cable, Bill Daniels, prior to his successful career as a venture capitalist. Mark discusses his focus as a B2B investor, what he looks for in the people he invests in, specific areas where he is investing, and the unique qualities of the Los Angeles ecosystem.

Episode 2: Mark Mullen from Double M Partners | Bonfire Ventures

Learn from LA VC veteran, Rick Smith, as he reminisces about the trials and tribulations of starting a fund in the midst of the great recession, and the passion that kept him and his team going to build one of the leading funds in Los Angeles today

Episode 3: Rick Smith from CrossCut Ventures

Listen as Howard Ko, principal at Morpheus Ventures, enlightens us with his perspective of the LA ecosystem and discusses disruptive technologies such as the Hyperloop, autonomous vehicles, and more. Howard, a VC with a strong foundation in operations, shares his opinions of what he looks for when evaluating investments, and the kinds of teams he keeps an eye out for.

Episode 4: Howard Ko from Morpheus Ventures

William Quigley, a leader in the blockchain and cryptocurrency uprising, breaks down in clear terms the value, strengths and weaknesses of bitcoin and cryptocurrencies more broadly. William traces lessons learned and the path that led him into the world of crypto, sharing how the emergence of such currencies have seamlessly fit into his company, OPSkins, a marketplace for digital goods. William also gets into the role and benefits that cryptos could have with global e-commerce giant, Amazon.

Episode 5: William Quigley from Opskins | WAX Token (Part 1)

Part II of William Quigley’s interview jumps into his explanation of decentralization through blockchain and the age of smart contracts, along with clarifying some of the metrics of valuation that have been used to measure these currencies.

Episode 6: William Quigley from Opskins | WAX Token (Part 2)

Steven Dietz, veteran VC and current CEO of Level 4 Fleet Services, has been one of the leading investors in the automotive industry for well over a decade. Listen as Steven gives us a snapshot into the world of self-driving cars, sharing insights into the types of changes that could await our streets, communities, industries, and more.

Episode 7: Steven Dietz from Level 4 Fleet Services, Inc.

Michael Jones, Co-Founder and CEO of Science, quickly walks us through his entrepreneurial beginnings starting and selling his own companies, later becoming the CEO of MySpace, and his experience founding the venture firm Science, Inc. Mike discusses in detail Science Blockchain, a Reg D private offering fund that provides a model for investment funds seeking to invest in and leverage the benefits of blockchain technology, explaining the ICO process, how their tokens work, and the fascinating opportunities that applications of the blockchain create.

Episode 8: Michael Jones from Science, Inc.

The Puck: Venture Capital & Beyond showcases the innovative forethought that defines the venture capital world. Join us as we follow the puck and explore what this community has to offer.
Listen as we have in-depth conversations, gaining insights and lessons from well-established VCs, entrepreneurs, and other leading technology experts. We will learn about their successes, challenges, and how they got to where they are today. Along the way we will discover what investors most look for in who they invest in and what to avoid when making your pitch.

We will also follow industry leaders to understand the cutting-edge technologies and trends that continue to shape our world.

Ep. 103 — Anat Admati on Financial Fragility, Accountability, and the Future of Capitalism

The Puck: Venture Capital & Beyond

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