consumer companies

“If you're spending a hundred percent of your time looking at certain types of consumer companies, you can't help but pattern match in a better way than if you're spending 20% of your time on SAS and 15% of your time being a second partner on someone's, you kno…”

“Consumer companies are binary. They work or they don't work. And when they work, it just really doesn't matter what your entry price is.”

“So this is contrarian, but I actually don't think that TAM is very important. The greatest consumer companies of our time have been created in very small markets.”

“Consumer companies typically it'll be a graveyard. There'll be some exceptions. Unilever bots, Dollar Shave Club, because they needed the capabilities of DTC. That'll happen a few more times, but many times they will be sold for half of the last round valuatio…”

“At the end of the day, consumer companies have higher net margins and are more profitable than tech companies.”

“And in particular today, I think we've got a little bit of a hangover from the funding cycle of 2014, 2015, where there was a huge boom in venture capital funding, and a lot of companies raised money at very high valuations. And, you know, these are ten millio…”

“I can point to a ton of consumer companies, a ton of FinTech companies that move the opposite direction that, you know, despite You know, trying to cut back their growth, you know, went through the floor and those companies are largely dead right now.”