Clean and thoroughly dry the baby gold potatoes, then pierce them all over with a fork.
Microwave the potatoes for 90 seconds, flip, and microwave for another 90 seconds. Continue in 60-second intervals, flipping each time, until a knife enters the center with some resistance, about 3 1/2 to 5 minutes total.
Cool the potatoes until easy to handle, then dice them into even 1/2-inch pieces.
Heat the unsalted butter and olive oil in a 12-inch or larger skillet over medium-high heat until the butter sizzles.
Add the potatoes in a single layer. Sprinkle with salt, black pepper, garlic powder, onion powder, and paprika, then cook for 8 to 12 minutes, flipping about every 3 minutes so the potatoes brown without excessive stirring.
Remove from the heat, adjust seasoning to taste, and finish with optional fresh thyme or parsley.