The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
shows 
every show 44 of 44
Traditional banks lack capability to underwrite individual DTC transactions
“With marketplaces like Amazon, social platforms like Instagram, and e-com platforms like Shopify, the buyer is now individuals, not stores. And factors and banks don't know how to underwrite that scenario, and we do.”
VC hyper-growth expectations conflict with the reality of scaling physical inventory
“And the problem with VC financing and the manufactured consumer goods space is that the growth expectations exceed the reality of prudently growing a physical inventory base.”
Consumer brands suitable for venture capital financing are rare exceptions
“They tend to have very few skews and have a strategy in which they underprice the incumbent by selling direct, and those categories might include mattresses, razors, eyewear, and beauty, but again, I would say those are rare birds. Those are the exceptions to …”
Profitable consumer brands at $30M-$40M revenue make poor VC investments
“Brands don't have to grow forever. They can get to 30 or forty million in revenue and generate profit, which is why they're not great VC investments, but that doesn't mean they don't deserve capital.”
Consumer brand exits will remain small, niche acquisitions over mega returns
“Definitely the latter. The media happens to like to cover the former, so there are amazing exceptions to the rule, and those are just wonderful stories. I think the reality is those are, again, exceptions to the rule.”
90 of the top 100 consumer brands lost market share in 2018
“So, 90 of the hundred largest brands lost share in 2018.”
Retail re-platforming will make starting consumer brands progressively easier
“As retail is replatformed, it will only get easier to start brands and organize all the pieces of the value chain to get product to market quickly.”
Consumer product startups frequently miscalculate unit economics and sell below cost
“The cost can be higher than what you're selling the good for. And that's when you're literally lighting money on fire. And that happens more than you would think.”