“Time = Fate” is the only Cook-led song on Paper Mâché Dream Balloon and focuses on how our memories fade with time, as well as how nostalgia can keep us from growing. Cook’s emotional lyrics serve as the first of two examinations of time on the album and is soundtracked by acoustic guitar, double bass, piano, flute and drums. Stu revealed a bit of info about the song in a Guitar World Magazine article which named it one of the band’s ten best songs. “This song is a Cookie Craig-penned song. We recorded it out in the country in rural Victoria, where we converted a shipping container into a studio. I’m not sure if other people can hear it as a shipping container, but when I listen to that record, I just [hear] the specific reverberation in the room.” The song was released on November 13th, 2015 with an instrumental version released as part of the deluxe edition of Paper Mâché Dream Balloon on October 29th, 2021.

“Time = Fate” has not been played live, but Stu said in the band’s 2020 Reddit AMA that they may have rehearsed the song at one point.