In this episode, Richard Armstrong and Jack Richardson talk with Dan Marcus and Paul Hill about the intricate world of tech startups. Dan shares his journey from relocation to automating forecasting at Ramp, highlighting poker's influence on his business acumen. Paul discusses his VC background, Richard's experience with Citymapper, and choosing Albion VC. The conversation explores the art versus science of forecasting, the necessity of AI, and the importance of a strong founding team. Challenges in the South African startup scene, attracting talent, and the evolving vision of Ramp are discussed. The episode concludes with advice on raising capital, managing VC expectations, and finding fulfilling problems.

(0:00) Introduction and guest introductions

(1:33) Dan Marcus on relocating and Ramp's forecasting automation

(2:29) Dan Marcus' entrepreneurial journey and poker's business influence

(4:20) Paul Hill's VC background and Richard Armstrong's experience with Citymapper

(6:28) Choosing Albion VC and the art vs. science of forecasting

(10:22) Importance of a strong founding team and Ramp's evolution

(12:49) AI necessity in modern businesses and founders' connection

(16:04) South African startup challenges and attracting talent

(19:32) Ramp's evolving vision and the role of gut feeling in forecasting

(21:43) Asking the right questions in business and fundraising with Albion

(29:30) Developing post-investment relationships and key learnings from exits

(33:44) Ramp's future roadmap and essential founder characteristics

(38:12) Advice for founders on raising capital and considering VC backing

(41:12) Expectations and pressures of VC backing and building vs. solving problems

(43:52) Finding fulfilling problems and closing remarks