On the phone from his San Mateo office, Adam Draper, CEO of Boost VC and son of Skype and Tesla investor Tim Draper, is his usual energetic self, his voice evoking the same optimism as the orange high-tops he wears regardless of occasion.
Draper is fresh off demoing a new batch of startups – Tribe 6 – for the incubator he co-founded with former Xpert Financial collaborator Brayton Williams in 2012, and that in 2013 found success by backing an emerging financial technology called bitcoin, then best known for its volatile price and associations with cybercrime.
While potentially risky, the decision proved adept, winning Boost VC a slew of media coverage and its 2014 pledge to fund 100 “bitcoin companies” through 2017. So far, Boost is halfway there, having invested in 52 industry startups, including firms such as Align Commerce, Mirror and Reveal.
Today, however, he’s in the middle of recapping a recent trip to New York, unpacking his feelings about a revelation that financial institutions and investors “don’t like bitcoin”, but are interested in “blockchain”, the amorphous term that while technically referring to bitcoin’s distributed ledger, the blockchain, and derivatives