He Turned A Newsletter Into A Venture Fund - Packy McCormick (Not Boring Capital)

Luba Show 1h8 4 min #30
He Turned A Newsletter Into A Venture Fund - Packy McCormick (Not Boring Capital)
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Summary

  • Packy McCormick built Not Boring from a side newsletter into a media business and venture fund (Not Boring Capital) by following his curiosity, writing weekly essays, and investing in hard-tech companies he covers; the conversation traces his path from finance and Breather through a pandemic-era leap, the writing habits that sustain him, and the philosophical optimism that now drives both his writing and investing.

Leaving Breather and the “Not Boring Club” that never launched

  • After six years at Breather (a workspace startup), Packy quit in late 2019 planning a “Soho House for nerds” called the Not Boring Club, complete with a debate-club test run and lease negotiations.
  • COVID hit before he signed anything, saving him from a business model that would have required constant hosting — a poor fit for someone who prefers writing alone.
  • He realized he had become one-dimensional (work only) during finance and Breather; a conversation with his mom and her partner about “what do you do for fun?” sparked the debate-club idea as a way to reclaim hobbies.

Weekly coaching calls with his mom kept him accountable during the transition

  • On garden leave (Oct–Feb), he did weekly business-coaching calls with his mom, an organizational-development consultant.
  • The format mirrored his paid Breather coach: he talked through decisions, she asked hard questions, he talked himself into answers.
  • She suggested renaming the newsletter from “Per My Last Email” to “Not Boring” when it became his main focus — a pivotal branding move.

Right of Passage writing course provided the reps and the “personal monopoly” concept

  • Packy took David Perell’s cohort-based course in early 2020 (≈200 Twitter followers at the time) after an exec meeting where colleagues didn’t know the word “innumerate.”
  • The course’s main value: forced weekly output + small-group accountability; almost no one dropped out.
  • Key takeaway: “personal monopoly” — overlap niche interests (business + Philly sports + pop culture) so you’re the only one writing that intersection, avoiding audience capture by chasing market demand.

Passing on investing in his friend Evan Beard (now a $1B robotics founder)

  • Evan Beard, a college friend and early startup colleague (Shoeboxed), now runs Standard Bots — most-deployed U.S. robotics company, recently valued at $1B.
  • Packy didn’t invest early because they’d lost touch during his finance years; by the time he reconnected, the round was priced up.
  • Lesson reinforced: “always invest in your friends” — even if the specific deal misses, the relationship compounds and you support people you trust.

The “nobody gives a shit” moment freed him from audience capture

  • After meteoric growth in 2021–22, growth flatlined in 2023; the pressure to perform evaporated.
  • He realized his job (investing in exciting companies, learning from founders, writing what he learns) is secure regardless of any single essay’s performance.
  • Now writes deep dives and pieces like “Riding the Leopard” (meaning of life) because he enjoys both; the fund side removes pressure to optimize every post for growth.

”Riding the Leopard”: meaning of life = the universe experiencing itself through unique shards

  • Inspired by The Telepathy Tapes podcast (non-verbal autistic kids showing telepathy, past-life knowledge, shared visions) and Joseph Campbell’s idea of “riding the leopard” — the universe/God shards itself into limited beings to have experiences it couldn’t have as an all-knowing whole.
  • Cross-cultural mystical traditions (Christianity, Buddhism, Daoism, perennial philosophy) all converge on atman is Brahman; the kids were describing the same thing experientially.
  • UVA’s thousands of verified past-life memory cases (scars matching wounds, names/dates confirmed) add empirical “smoke.”
  • Technology expands the potential for new experiences (wings, brain-computer interfaces, longevity); our role is to go have them — experience-maximizing is the point.

Optimism as a self-fulfilling choice, not blind faith

  • Packy’s optimism stems from a lucky life (setbacks reversed on second tries) and long-arc data (GDP per capita, health, energy).
  • Finds Anthropic-style pessimism “wearing” — if you assume failure, you don’t start; optimism attracts builders and becomes self-fulfilling.
  • Believes optimism can be practiced: his “Weekly Dose of Optimism” newsletter reframes stories (e.g., data-center water use → cooling innovation) and readers report mindset shifts.
  • Retired the explicit “make the world more optimistic” mission because the cultural tide has turned; current mission: “translate complex but important things so people resonate with them” — whether companies, esoteric ideas, or philosophy.

Writing process: deep-focus sprints, deadline-driven, curiosity-led research

  • Typical day: up ~6 AM, creatine + breakfast with daughter, in office by 8:30, mornings blocked for reading/writing (today: 4-hour uninterrupted sprint on a deep dive).
  • No fixed research quota; starts with founder conversations, follows gaps, uses ChatGPT for synthesis, reads case studies.
  • Switched sponsorship model (bulk spots placed post-hoc) to remove calendar pressure, but found the deadline itself is the forcing function that produces volume → quality (clay-pot experiment: group making many pots beats group perfecting one).
  • Judges pieces by input effort (research depth, clarity, capturing a company’s moment); audience reaction sometimes diverges.

Sourcing deals: inbound from writing, network compounding, attraction over funnel

  • No tight funnel; each top company came via a different channel (Twitter DM, founder referral, LP intro, cold inbound after a category essay).
  • Newsletter acts as a filter: repels misaligned founders, attracts those who resonate with his lens.
  • Narrowed top-of-funnel over time; now focuses on companies where his writing + audience trust is the highest-leverage value-add.

Memory, strengths, and personal-life disclosure

  • Admits poor episodic memory (faces, names, details) but strong conceptual recall for companies he’s studied; writing acts as external brain.
  • Philosophy: double down on strengths unless a weakness is life-blocking; hasn’t found memory training worth the time.
  • Intentionally blends personal anecdotes (kids, creatine gummies, basement writing) with serious analysis to keep voice human and AI-resistant; avoids “me show” but rejects faceless corporate tone.

Recent optimism fuel: hard tech breaking out of software-only era

  • Nuclear: Antares (micro reactors) raised $470M; four advanced-reactor startups went critical before July 4th — first new nuclear in 40 years.
  • GLP-1s: Weight-loss drugs revealing cascade of unexpected benefits (cardio, kidney, addiction, neurodegenerative) weekly.
  • Brain-computer interface: Left Neuro (ultrasound-on-chip) imaging brain through skull at unprecedented resolution — founders obsessed since teens.
  • Industry-toppling startups: Young companies explicitly targeting incumbents in energy, defense, manufacturing, logistics — cheaper, faster, better versions replacing sclerotic giants → everyday affordability and experience expansion (e.g., supersonic flight).

Individual contribution to optimism: reframe the casual pessimism in conversation

  • Push back when friends default to “world is terrible” based on headlines, not lived experience.
  • Offer the alternative frame without dismissing real hardship; positivity is a practice, not a denial.

Joy this week: going to bed before 9 PM

  • Calls it a “game changer” — wakes at 5–6 AM regardless, so earlier sleep = more energy, better focus, happier life.
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