Marc Seitz is the founder of Papermark, an open-source alternative to DocSend that helps startups share documents more securely and affordably. With a background spanning physics, hackathons, and startup building—from co-founding HackerBay to launching Intel Ignite Europe—Marc brings deep insights into open source innovation, founder culture, and the evolving intersection of AI and software development.

In this episode, he discusses how open source is reshaping enterprise software, the “hackathon mentality” that drives rapid iteration, and why transparency and community are becoming core competitive advantages in tech. Marc also shares his perspective on building Papermark, navigating licensing, handling community pull requests, and how AI is transforming open source collaboration.

In Today’s Episode We Discuss:

00:01 Introduction and Guest Overview

00:28 From Physics to Software

01:41 Discovering the Physics-to-Software Path

03:06 The Appeal of Instant Feedback in Coding

04:36 Founding HackerBay

05:15 The Rise of Dropout Culture in Startups

06:14 Lessons from Early Experiments

07:25 The Hackathon Mentality

10:30 The Aha Moment for Papermark

11:39 Building an Open-Source Data Room

13:53 Why Founders Embrace Open Source

14:49 Open Source vs Proprietary Software

15:26 Selling to Enterprises and Data Sovereignty

17:14 Transparency and Trust Through Open Source

19:04 Who Uses Papermark

20:59 Licensing Models and AGPL Explained

22:27 Enforcing Open-Source Licenses

23:33 Legal and Ethical Issues in Open Source

24:50 Enterprise Adoption and Pricing

25:31 Papermark’s Growth and Free Tier

28:15 Competing with Incumbents

29:22 Community Contributions and AI Integration

30:45 AI and the Future of Open Source Collaboration

33:43 Control vs Convenience in Software

36:13 Surprising Community Pull Requests

38:22 Managing Product Bloat and Feature Creep

40:32 The Role of Maintainers and Contributors

42:04 Leveraging Community and Capital Efficiency

43:55 Building Publicly and Growing a Developer Community

46:01 AI, RAG, and Secure Document Search

47:15 Is Data Ever Truly Secure?

48:32 Transparency and Audit Logs in M&A

50:31 Evolution of Data Rooms and Compliance

51:02 Adding e-Signatures and Future Roadmap

51:49 The Future of Open Source Software

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Justinas Milašauskas is an Investment Manager at Willgrow, a Lithuania-based family office and diversified investment platform. With over 15 years of experience across trading, institutional sales, and portfolio management, Justinas brings deep insight into public and private markets — from credit and derivatives to venture and private equity. He’s also an active angel investor and a member of the Lithuanian Business Angel Network (LitBAN), combining his analytical background with a passion for backing emerging founders and fund managers.

With a journey that spans global finance hubs from Amsterdam to Paris and Vilnius, Justinas offers an insider’s look into how family offices evolve from traditional asset classes to cutting-edge venture investing. In this episode, he discusses the discipline behind manager selection, the lessons learned from early angel bets, and how Willgrow is navigating a shifting global investment landscape.

In Today’s Episode We Discuss:

00:02 Early life in Vilnius and family influence in finance

03:00 Starting career as a trader in Amsterdam

04:10 Transition from public markets to family office investing

05:30 Discovering venture capital and building early networks

06:25 Joining Willgrow and professionalizing the venture journey

07:45 Lessons from angel investing and early portfolio wins

09:45 Evolution of Willgrow from transport and real estate to investments

11:50 Growth into a diversified global investment platform

13:00 Five core investment areas at Willgrow

14:10 Why Willgrow focuses on funds over direct deals

16:30 Building a “bulletproof” fund portfolio strategy

18:10 Strategic asset allocation and balancing risk across classes

20:40 How Willgrow sets portfolio weights and long-term targets

22:40 Shifts in venture returns and performance assumptions

23:50 Managing liquidity and duration through secondaries

25:55 Currency exposure between U.S. and European investments

28:20 Sourcing fund managers and building LP networks

30:40 Partnering with fund-of-funds and global advisors

31:00 GP–strategy fit as a key selection criterion

32:30 Evaluating track records and past success indicators

33:00 Investing in first-time GPs and assessing credibility

34:20 Soft referencing and network-based validation

35:00 From concentrated bets to diversified fund portfolios

37:20 Navigating a more competitive venture landscape

38:20 Specialist vs. generalist fund approaches

40:40 How Willgrow evaluates sector focus and adaptability

44:30 Benchmarking and monitoring fund performance

46:50 Lessons learned after four years of venture investing

48:50 Ticket sizing, pacing, and realistic growth assumptions

49:30 Risks of first-time teams in emerging managers

51:00 Case study: when a first-time GP team collapses

52:00 Evaluating fund valuations and markup practices

53:00 Due diligence and data room best practices

54:20 What LPs look for in deal memos and documentation

54:37 End of main discussion

Subscribe on Spotify: https://open.spotify.com/show/6Ga6v0YUsHotLhjap67uu5

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Jack Stockert, MD is the Managing Director at Health2047, the venture studio founded by the American Medical Association (AMA) to build, fund, and scale startups transforming healthcare from within. With a background that bridges medicine, consulting at McKinsey, and entrepreneurship, Jack brings a rare perspective on how to align medical insight with innovation and investment.

With years of experience helping founders tackle foundational healthcare challenges — from chronic disease and obesity to AI-driven diagnostics — Jack offers a deep look into how Health2047 is shaping the future of healthcare through system-level design and strategic venture building.

In this episode, he discusses his journey from practicing medicine to redefining it through entrepreneurship, how the AMA-backed studio chooses which problems to solve, and what the future of healthcare might look like by the year 2047.

In Today’s Episode We Discuss:

00:00 Early Medical Journey

03:18 Combining Medicine and Business

04:33 Lessons from McKinsey

05:35 Becoming a Founder

07:46 Moving to Silicon Valley

09:43 The Origin of Health2047

10:08 Why the AMA Created a Venture Studio

12:28 Identifying and Incubating Startups

13:16 The Four Strategic Pillars

14:36 Building Fewer, Deeper Companies

16:17 Problem Framing and Greenfield Innovation18:11 Portfolio Highlights: Moneta Health, HOPPR, Phenomix Sciences, ScholarRx

20:09 The AMA’s Role and Mission Alignment

22:50 Why the Year 2047

24:00 Blind Spots in Digital Health

26:19 Healthcare in 2047

29:39 Balancing Investor Returns and Clinician Impact

31:57 AI and Wisdom in Medicine

33:09 The Human Element in Healthcare

35:38 The Smartest “No” Health2047 Ever Made

38:58 Policy Fast Track: GLP-1 Therapies

42:00 The Systemic Shift

43:18 Closing Reflections

Subscribe on Spotify: https://open.spotify.com/show/6Ga6v0YUsHotLhjap67uu5

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Visit Our Website: https://www.teamignite.ventures

Subscribe to Our Newsletter: https://insights.teamignite.ventures/

👂🎧 Watch, listen, and follow on your favorite platform: https://tr.ee/S2ayrbx_fL

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🔥 Club Ignite is booking fast — our next gathering of top founders, investors, and operators will be our biggest yet. Apply now before spots fill: https://teamignite.decilehub.com/e/club-ignite-25