The K-Shaped Economy and the New Rules of Consumer Investing

Can premium consumer brands still scale in a K-shaped economy even if they never reach most Americans?In this episode of In The Money, Tyler Morgan of BFG breaks down how seed and Series A consumer investing has changed and why some brands can now reach $100M+ in revenue by serving a smaller, more affluent customer base.We cover:The K-shaped economy and why premium brands can still winHow “aspirational consumption” survives downturnsWhy some categories no longer need mass-market penetrationCase studies:Ollipop and underwriting fiber before it was culturalVacation and world-building as a growth leverOats Overnight and one of the strongest community flywheels in consumerSeed vs Series A today:Revenue rangesCheck sizesValuation expectationsWhy founder quality is still the true X-factorProduct moats vs brand moats in food & beverageProtein, fiber, and functionality as acceptable price-increase leversWhy volume doesn’t fix bad marginsContribution margin by channel (DTC, Amazon, retail, Costco)Where consumer opportunity still exists heading into 2026Tyler’s advice for founders on fundraising timing and capital planningIf you’re a founder, operator, or investor trying to understand where consumer is really headed, this episode will sharpen your mental model.