In this conversation, Sam Marchant interviews Paul, exploring his journey from launching his first business in the oil and gas sector in 1999 to creating one of the world's first carbon credit platforms. They discuss the challenges of navigating industry skepticism, the investment landscape during the dot-com boom, and how Paul maintained his entrepreneurial spirit while working in large corporates. The conversation also delves into leadership styles and the importance of fostering innovation within teams. Paul discusses the importance of creative problem-solving in teams, the strengths and challenges of the UK FinTech ecosystem, the traits of successful FinTech founders, and the exciting innovations currently shaping the industry. He emphasizes the need for self-awareness, emotional intelligence, and the ability to adapt in a rapidly changing environment, particularly in the context of financial services and technology.

Keywords

startups, FinTech, AI, entrepreneurship, carbon credits, investment, leadership, innovation, technology, oil and gas, FinTech, creativity, teamwork, UK ecosystem, successful founders, innovation, emotional intelligence, compliance, AI, workflows

Takeaways

• Paul launched his first business in oil and gas in 1999.
• He had a background in the New Orleans gas industry.
• The initial business model was a mix of eBay and Rightmove for oil and gas.
• Security was a major concern for clients in the early internet days.
• The first online auction of oil drilling licenses was completed on their platform.
• Investment was easier during the dot-com boom with less scrutiny.
• Paul transitioned to the carbon credit space after working at Goldman Sachs.
• He identified a need for transparency in carbon credit transactions.
• Maintaining an entrepreneurial spirit in corporates requires finding innovation functions.
• Leadership should encourage problem identification and solutioning. Creative problem-solving thrives in collaborative environments.
• The UK FinTech ecosystem benefits from a mix of regulation and entrepreneurial spirit.
• Successful founders exhibit self-awareness and the ability to build strong teams.
• Emotional intelligence is crucial for effective leadership in startups.
• The UK is a safe market for launching new business propositions.
• Workflows in banking are evolving with new technologies.
• AI should be used thoughtfully in financial services.
• Compliance remains a significant area of innovation in FinTech.
• Founders should be open to giving up equity for the right talent.
• The ability to adapt and learn quickly is essential for success. 

Chapters

00:00 Introduction and Background

05:52 Navigating Industry Skepticism

12:02 Transition to Carbon Credits

18:04 Leadership and Team Dynamics

24:27 The UK FinTech Ecosystem: Strengths and Challenges

30:59 Traits of Successful FinTech Founders

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