
Exploring how venture capitalists invest in consumer startups + tips on how to grow your network • Host of @consumervc
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Joined September 2010
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Mike Gelb retweeted
During this tidbit on the power law from my chat with @MikeGelb on the @ConsumerVC podcast, I was thinking about a conversation with one of my partners when we exited Chewy in 2017. He noted that Chewy had returned more than every other investment in our history combined.
And, I responded that if we do our job well, there would be another investment down the road that would return more than every other investment in our then history + Chewy combined. That's how the power law works. He looked at me like I was nuts - I stand by it.
🚨 AUSTIN — We're Coming To Ya!
We’re bringing @ConsumerVC LIVE to town on May 5th with two legends of CPG:
🎙️ Clayton Christopher — Founder of Sweet Leaf Tea, Deep Eddy Vodka & Waterloo Sparkling Water
💼 Brian Goldberg — Former CFO of Sweet Leaf & SkinnyPop, Founder of RedBud Brands
We’ll be doing a live interview followed by a happy hour with some of the best in the consumer ecosystem.
👉 If you're building, investing in, or scaling consumer brands — this is for you.
📍Austin, TX
📆 May 5th
🥂 Live convo + Happy Hour
RSVP Below 👇
If regulators force a Meta breakup, which business do you think Zuck would prefer to keep?
29%Facebook
71%Instagram
7 votes • Final results Mike Gelb retweeted
CPG people – Headed to Expo?
Last year we had 400+ brands, investors, retailers come out to our Rise & Roast event...so we had to run it back.
Join us on March 6th @ 8am
RSVP Here – lu.ma/8ihq6mkn
I’m liking the 4 Nations. Looking forward to USA vs. Canada.
Would love it though if the NHL brought back North America vs World every once in a while.
No matter how well-intentioned your introduction may be, always remember to get a double opt-in.
It’s tempting to connect two people you think would hit it off or benefit from knowing each other.
After all, you see the potential synergy: how both people can provide value.
But just because you see it doesn’t mean they will.
Without checking in first, you risk creating an awkward situation where one or both parties may feel blindsided or pressured.
Should I start a video shorts series interviewing CPG founders how they got into retail for the first time and how they convinced a store to purchase their products?
I love hearing these types of stories. Even if they weren't able to get into the store, but just kept going door to door until someone said yes.
Will smart glasses dethrone smartphones?
Do you have to be an AI company to make it in consumer tech?
Is there room for another BIG horizontal social media company?
On the latest @ConsumerVC , I chat with @kirbyman01 Partner at @a16z
We discuss:
• How Alibaba inspired him to ditch banking and head into tech
• Why you should never be afraid to beg for a job & how he got hired at Snap Inc.
• Opportunities in app layer AI companies
• If he agrees with @andrewchen that we're at the end of new ad-based horizontal social consumer apps on smartphones
• A contrarian belief he holds that's different to the rest of his colleagues about consumer
For the full episode:
YouTube: lnkd.in/ghSm2Kp3
Spotify: lnkd.in/gMBaQPNr
Newsletter: lnkd.in/gcUxEuvK
Mike Gelb retweeted
Chatted with @MikeGelb @consumervc about consumer AI and company building!
(08:50) - lessons learned leading growth at @Snap
(21:00) - how incumbents and startups are navigating the AI shift
(44:00) - the future of social
(51:45) - new revenue models
youtube.com/watch?v=9d8FiNYx…
was at a startup showcase a few weeks ago and a stat that jumped out in one of the brands:
$930k in sales, all DTC
No money spent on advertising
No celebrity/influencers involved.
Storytelling via organic content can lead to amazing things.
If CPG is less power law driven, why invest in both software and CPG?
When we think about venture capital, software takes the spotlight.
It’s the epitome of power-law returns—one unicorn can pay for an entire portfolio.
CPG, on the other hand, doesn’t typically follow this trajectory.
While exits may not be 100x, they can more often than tech deliver 3x–5x returns—a great outcome for investors with strategies tailored to consumer businesses.
But here’s the question: if CPG is less power-law driven, why do some investors choose to invest in both technology and CPG?
If you're a VC firm, executing on one strategy is hard enough.
So...why try to execute on two investment strategies?
And...will you be able to invest in enough software businesses that gives you a chance to have an outlier?
This is a conversation on our next podcast episode, but I'd love to hear your thoughts.
When you put the final touches on your weekly newsletter Friday night and instead of scheduling for Saturday morning, you accidentally send it at 10pm.
For all those who received The Consumer VC Roundup last night - I hope you enjoy it!
Here’s the link to the latest issue and a recap of all the consumer fundraising & news from the week
theconsumervc.com/p/the-cons…
Mike Gelb retweeted
And great to see @MikeGelb 🙌
A pleasure to be with you! FaB meeting Los Angeles. Cc @ettitude @Odile_Roujol @SiliconVlyBank @VenturesBam @ignite XL te
Do you consider TikTok Shop a 1st party or 3rd party sales channel?
25%1st Party
75%3rd Party
4 votes • Final resultsI don’t know that much about Better Brand, but I did remember thinking raising $6 million on a $170 million pre was weird
For years carbs and fats were pitted against one another with “low carb” and “low fat” diets.
Not saying these diet or lifestyle changes aren’t still prominent but there does seem to be a shift when I talk to people in my network.
The new macronutrient focus is upping the amount of protein they are consuming than being super low in one of the other two macronutrient categories.
Rather using carbs and fats to round out the total calories they are consuming but not concerned on the percentages.
The percentage they are concerned with is protein.













