Packy McCormick - Founder of Not Boring Ep #49

<p>Anatoly (00:09):</p><p>Hey, folks. This is Anatoly and you're listening to The Solana Podcast, and today, I have with me, Packy McCormick, author of Not Boring. Hey, man. Good to have you.</p><p>Packy McCormick (17:27):</p><p>Good to be here. Thanks for having me on.</p><p>Anatoly (00:21):</p><p>So, You're an author and you're also an investor. How did you get into crypto?</p><p>Packy McCormick (00:26):</p><p>Yeah. So, I got into crypto back in 2013. I read Fred Wilson's blog post on investing in Coinbase, bought a bunch of Bitcoin, I think 38 Bitcoin, and then I went on a trip to Oktoberfest, and I felt bad about it, I had just quit my job, so I was like, "You know what, instead of spending money when I'm unemployed, let me just sell this stupid Bitcoin and I will pay for the trip."</p><p>So, because of that, because of the pain of selling then, I avoided it until earlier this year, later last year, and really, really got back into it as I was talking to a couple companies that I was thinking about investing in and thinking about the intersection of crypto and the metaverse and how an open economy just fits so much better with that vision, since then, I've just gotten deeper, and deeper, and deeper down the rabbit hole.</p><p>Anatoly (01:18):</p><p>So, you held Bitcoin because you can sell it? That's just too big of a pain in the ass.</p><p>Packy McCormick (01:24):</p><p>I felt so bad about selling it and missing out. I think at the peak, it was like a two million dollar plus mistake, and so I was like, "You know what? I'm out of this for a little while."</p><p>Anatoly (01:34):</p><p>That's funny. What do you guys invest in?</p><p>Packy McCormick (01:39):</p><p>Yeah. So, I run a small 10 million dollar fund called Not Boring Capital, and we really invest across stages, across geographies, across verticals. For the first, I'd say, half of the fund, it was really traditional investments, I'd say for the second five million in the fund, it's been pushing up against the 20% non qualifying limit. I'm actually inve