In The Money: eCommerce, DTC, and CPG

PODCAST · business

In The Money: eCommerce, DTC, and CPG

A podcast about the real economics of ecommerce, DTC, and CPG. Hosted by Fan Bi, In The Money features honest convos with the people building, growing, and investing in modern consumer brands.

  1. 55

    Why Growth Breaks Consumer Brands And How to Finance Through It

    What happens to your cash when you land a purchase order from Target, Walmart, or Costco?Ben Brachot, Co-Founder and Managing Director of Dwight Funding, joins In The Money for round two to break down the working capital reality that most consumer founders discover too late and the financial infrastructure decisions that separate the brands that scale from the ones that quietly run out of runway.Dwight is one of the most active asset-based lenders to high-growth consumer brands, working alongside companies from their first $2M facility all the way through exits, IPOs, and everything in between. Their portfolio includes Olipop, Chubbies, Birch Benders, and dozens of the most recognizable names in modern CPG.We cover:Why 2026 is shaping up to be one of the busiest years Dwight has seen and what's driving investor excitement back into consumerThe retail-first shift: why today's best founders are launching into Target, Walmart, Costco, and Sephora before building DTCHow Dwight underwrites brands as young as six to twelve months old and what they're actually looking atThe 270-day cash trap: exactly how a retail purchase order locks up your liquidity from inventory build to paymentWhy you are effectively financing your retail customers and how to model for it before you signOlipop: from a $2M facility to $50M and why Ben called the founder to tell them it was time to graduate to a bankThe gross margin warning sign Ben sees before brands break: why "margins will fix themselves later" almost never worksWhy the 13-week cash flow is more than a model, it's a full company operating systemThe founder archetype winning in 2026: first principles thinking, veteran advisors, and no illusions about what retail actually requiresTikTok Shop as a real sales channel, what Ben is seeing from brands building 20-30% of revenue thereWhy treating your lender like a vendor is one of the most expensive mistakes a founder can makeIf you're building a consumer brand and retail is on the roadmap, this episode will change how you think about cash, capital structure, and what it actually takes to scale.

  2. 54

    The Hardware Startup Building the Operating System for Families

    What if the best family technology isn't the most powerful one, it's the most purposeful one?Mei Lin Ng, Co-Founder and CEO of Hearth Display, joins In The Money to tell the story of building a hardware startup for families from the ground up, two years of customer research before a single line of code, three years of pre-orders before ready-to-ship inventory, and a $10M raise doing what most hardware companies need $40M to accomplish.Hearth is a purpose-built family display that sits at the intersection of behavioral science, childhood development, and consumer hardware. Not a tablet. Not a whiteboard. A dedicated family operating system designed around one insight: the most painful moments of the family day aren't logistics problems, they're power struggles.We cover:Why the most painful moments of the family day are getting ready for school and going to bed and how Hearth was designed around thatTwo years of customer research before writing a line of code and why those early Facebook community members are still subscribers todayHow Hearth built a waitlist and validated demand before having a product to sellThe fundraising reality for first-time founders and underrepresented founders and what finally unlocked their first major checkWhy mental load was the entry point but kids' independence became the stickier product truthBlank slate anxiety: how Hearth thinks about onboarding, activation, and habit formationThe neurodivergent community Hearth didn't set out to serve and why it found them anywayHow AI has unlocked 10x engineering output and what that looks like in practiceWhy their marketing mix is still roughly half grassroots, half paid and why word of mouth remains the dominant first touchThe $599 considered purchase: how to nurture leads over 30+ days and convert around seasonal tent polesWhat Mei Lin would do differently in the first 12-24 monthsIf you're building a hardware business, a family-focused product, or anything that requires genuine behavior change to succeed, this episode is packed with hard-won lessons.

  3. 53

    $50M in Revenue With Just 7 Employees and The Minimum Viable Company

    What does it actually look like to build a mid-eight figure consumer brand with seven people and zero venture capital?Alex Schinasi, Co-Founder and President of Hulken, joins In The Money to break down the Minimum Viable Company, a model she's built from scratch after two VC-backed SaaS companies taught him everything she didn't want to do again.Hulken hit $50M+ in revenue with fewer than 10 people. The goal is $100M with the same headcount. This is a conversation about what's actually possible when you strip a business down to its highest-leverage elements and refuse to hire your way to growth.We cover:What the Minimum Viable Company actually is and why Alex thinks it's the future of building brandsHow Hulken went from zero to $5M in revenue without spending a dollar on paid adsThe niche communities that found Hulken first: thrifters, makeup artists, professional organizers and what that signal meantWhy Supreme reached out before Alex was even working on Hulken full-timeHow to vet agencies like you're hiring a co-founder and why firing them is easier than firing staffThe $5K shoot that got Supreme's attention (and why $40K shoots are a trap)QVC as the retail bootcamp nobody talks about harder requirements than any retailer they've worked with sinceThe five-month sprint to launch 1,800 Target stores with a team of fiveWhy having in-house manufacturing changed everything about their capital structureThe AI project management layer they're building and what it's actually replacingWhat Alex would do differently in the first 12-24 months if she started overThe supply chain and ops decisions that cost them margin early and what they've fixed sinceNew product expansion: the travel rolling tote, what's in the pipeline, and how they think about SKU discipline at this stageIf you're building a consumer brand and wondering whether you really need to raise, hire fast, or scale a big team to win this episode is the clearest argument I've heard that you don't.

  4. 52

    Building an Apparel Brand Without Inventory

    What happens when a made-to-order brand tries to sell custom shirts online and discovers that guys won't do homework before buying clothes?Kirk Keel, Co-Founder of Stantt, joins In The Money to trace one of the more honest origin stories in menswear: a DTC-first vision that quietly died at checkout, a flea market in Chelsea that accidentally proved the model, and a decade of wholesale growth through Nordstrom, Saks, and Dillard's that nobody originally planned for.Now they've come full circle, and Meta is finally working.We cover:Why made-to-order hasn't gone mainstream (and what it would take)The Chelsea Market moment that changed everythingHow Stantt went from DTC-only to wholesale-first almost by accidentWhy their original pricing model was completely wrong for retail, and how they fixed itThe double hit of de minimis removal and tariffs: how Stantt navigated 20-25% price increasesWhy bootstrapping longer is advice Kirk wishes he'd takenSell-through as the only metric that actually matters in retailThe shipping optimization that quietly drove their biggest margin gainsWhy DTC is finally working after years of struggle: Meta, AI, PDPs, and product photographyExpanding from shirts into suits, tuxedos, and tailored clothingWhat's coming in 2026: new retailers, international tests, and a DTC push with real momentumIf you're building in apparel, menswear, or any inventory-based business thinking about the made-to-order model, this episode is worth your time.

  5. 51

    The $5M PO Problem and How Retail Can Break Your Brand

    What does it actually take to get a brand onto a retail shelf, and keep it there?Erin Wall spent nearly a decade as a buyer and merchant at Target before becoming a broker, and now runs Lunr, a capital provider purpose-built for the most dangerous moment in a consumer brand's life: the gap between a purchase order and a fully stocked, actually-selling shelf.This is a conversation about what most founders get catastrophically wrong about retail, and what the ones who get it right have figured out.We cover:Why sell-in is the easy part and sell-through is everythingHow to walk into a buyer meeting prepared (and what kills your credibility fast)The $6M end cap moment: what happens when your eyes glaze over instead of light upWhy building your margins correctly on day one is non-negotiable, and why hoping they improve later is a strategy that failsWhere Lunr fits in the capital stack and why PO financing is still massively underservedHow Lunr underwrites: touching the product, connecting to bank accounts, modeling real contribution marginsWhy choosing your debt partner deserves the same scrutiny as choosing an equity investorThe Walmart private label story: what happens when the forecast doesn't pan out and your capital provider vanishesThe warning signs a brand isn't ready for retail, even if a retailer is offering them a slotDeduction management as an underrated margin leverCapital advice for founders heading into a still-uncertain 2026If you're building a consumer brand and retail is on the roadmap, this episode will save you from mistakes that quietly kill companies.

  6. 50

    What 100+ Amazon Brands Taught Him, And What He Built Next

    What happens when a top Amazon operator walks away from a great agency business to try to help dogs live longer, healthier lives?Jonathan Willbanks, Founder and CEO of Arterra Pet Science, joins In The Money to break down the leap from building Cartograph, one of the best-known Amazon agencies in CPG, to founding a pet wellness brand built around one mission: extending canine healthspan.This is a conversation about product obsession, category white space, channel strategy, and the difference between a product that’s “interesting” and one that truly has product-market fit.We cover:Why Jonathan left Cartograph to start Arterra“Brian Johnson for dogs”: how he got his dog to nearly 17 in remarkable healthWhy the pet supplement market felt clinically underwhelmingThe gap between good branding and real product substance in petLessons from advising 100+ brands on AmazonHow founders should think about Amazon todayWhy Arterra stayed focused on DTC, Amazon, and ChewyWhy Arterra’s first supplement line was clinically excellent but commercially hard to explainThe product pivot that changed everythingHow Jonathan thinks about product iterationThe importance of retention as a signal of whether you have a marketing problem or a product problemHow generative AI is accelerating creative production and iterationIf you care about pet, Amazon, DTC, or building a better-for-you consumer brand with real clinical substance, this episode is worth your time.

  7. 49

    Why European Brands Scale Differently

    What’s the difference between a great European consumer founder and a great American one? A lot more than you’d think.Sam Kaplan returns to In The Money to break down the biggest differences between U.S. and European consumer investing; from founder psychology and capital efficiency to TAM, exit paths, and what growth really looks like on each side of the Atlantic.This is a sharp conversation about how consumer brands scale, why Europe produces a different type of operator, and what investors are actually looking for in 2026.We cover:The real founder differences between the U.S., UK, and EuropeWhy American founders pitch bigger and European founders often build more durable businessesWhy UK founders look more like U.S. founders than continental EuropeansHow role models shape founder ambitionWhy many European founders don’t need outside capital at allThe rise of secondary deals in consumer because the best founders don’t need primariesHow Five Seasons thinks about stage, check size, and underwritingWhy “high AOV, high margin, high repeat” is the holy trinityWhy some categories look exciting but still aren’t right for the fundPortfolio examples:YFood and category creation in RTD nutritionTallow + Ash and premiumization in laundryHow Five Seasons does category work before it even meets a companyWhy timing matters as much as being right on a thesisRetail strategy in Europe: why earlier retail entry can workWhat’s driving growth right now:Massive content volumeFaster creative testingShort-form video supporting retail sell-throughWhy Sam is especially interested in fragrance-led disruption across adjacent categoriesThis isn’t a fluffy geography comparison.It’s a practical conversation about what actually wins in consumer and why the playbook looks different in Europe than it does in the U.S.If you’re a founder, investor, or operator trying to understand the next generation of consumer brands, this episode is packed with signal.

  8. 48

    Apparel Is Not a Venture Business

    What does it actually take to build a durable apparel brand in 2026?Matt Scanlan, Co-Founder of Naadam, joins In The Money to break down the real economics behind building a modern apparel business, from hero products and inventory discipline to channel mix and financing strategy.Naadam became famous for its $98 cashmere sweater, challenging luxury pricing while maintaining quality and ethical sourcing. But a decade later, Matt says the biggest lesson isn’t expansion, it’s discipline.This episode is a candid operator’s playbook on product focus, capital structure, and surviving the constant shifts in consumer, marketing, and retail.We cover:Why Naadam has resisted expanding too far beyond its hero productThe power of a single SKU that anchors 20% of a company’s revenueManaging inventory, gross margins, and contribution margins in apparelWhy lifetime value (~$500–$600 per customer) shapes everything in DTCThe challenge of seasonality and cash flow in fashion businessesNavigating the K-shaped consumer economy without diluting brand valueHow Naadam balances DTC (60–65%) vs wholesale and AmazonWhy wholesale can actually produce similar contribution margins to DTCHow iOS changes permanently altered the economics of performance marketingWhy diversified distribution matters more than ever in apparelThe right way to use credit vs equity to finance inventory and growthWhy overfunded brands often lose disciplineThe long time horizon required to build a real apparel brandHow Naadam grew its Amazon business 300% in 2025The surprising growth lever: brand licensing (NFL, pop culture, entertainment)Matt also shares why many apparel businesses shouldn’t chase venture growth and why building a great brand still takes a decade of consistency, product truth, and operational discipline.If you’re building or investing in consumer brands, this is a masterclass in the unglamorous mechanics of running an apparel company.

  9. 47

    Founder Quality Is Still the Gate

    Building a consumer brand looks very different depending on where you start.Jeremy Evans of Era Ventures joins In The Money to break down how they invest in seed-stage consumer brands across the U.S., Australia, and the UK, and why geography shapes everything from founder psychology to capital strategy.This episode dives into global consumer investing, capital efficiency, omnichannel strategy, and what it really takes to build a $100M brand.We cover:Why Australian and European founders tend to be more capital efficientThe venture constraint: why some great businesses shouldn’t raise VCWhen profitable brands raise capital anyway (and why investors still matter)Leading vs co-investing in global consumer dealsCase studies from Era’s portfolio:Seed, science-backed probiotics that scaled to hundreds of millions in revenuePillar Performance, a premium athlete recovery brand built through specialty retailWhy brand and community are often the real moat in consumerThe challenges of measuring performance in retail vs onlineSubscription economics in wellness brandsThe role of athlete and celebrity ambassadors in brand buildingTrends Era is watching in 2026:Wellness optimization (protein, creatine, collagen)Biomarker tracking and personalized healthThe convergence of beauty and wellnessWhat Jeremy looks for in founders at the seed stageThe biggest Meta growth lever today: massive volumes of creative testingCapital planning mistakes founders still make in today’s fundraising marketIf you’re building a brand, investing in consumer, or thinking about global expansion, this episode is packed with useful lessons.

  10. 46

    Why Unit Economics Are the Real Signal of Product-Market Fit

    Revenue is not product-market fit. Unit economics are.Connor Ryan of Bridge joins In The Money to break down how they underwrite seed-stage consumer brands and why artificially manufactured revenue doesn’t impress them.We cover:Why unit economics are a higher bar for product-market fit than revenueHow founders can “manufacture” revenue and why that’s dangerousConsumer as a discrete math problem (inventory, CAC, forecasting, payback)Why Bridge prefers quant-driven founders with fingers on keyboardsDistribution moats vs product differentiationThe seed-stage capital gap in consumerOptionality > underwriting future Series B capitalSimple Mills & Caraway case studies:Psychographic unmet needMillennial aesthetic shiftOperational rigorWhy smaller TAMs can actually be more attractiveA differentiated distribution hack (Rainwalk Pet Insurance example)Consumer enablement tech and the attribution problemThe role of AI in consumer acquisition (and why it’s fleeting)How founders should run a fundraising process like an M&A bankerWhy early relationship-building with investors matters more than everCapital planning advice heading into 2026If you’re raising capital or underwriting consumer deals in 2026, this is required listening.

  11. 45

    From TV Weatherman to Consumer Founder

    What happens when a national TV weatherman decides most umbrellas are junk and builds a better one?Rick Reichmuth, Chief Meteorologist at FOX and Founder of Weatherman Umbrella, joins In The Money to break down how he turned credibility, distribution, and product obsession into a profitable consumer brand in one of the most overlooked categories in retail.This isn’t a vanity influencer story. It’s a case study in turning attention into distribution and distribution into a real business.We cover:From national television to founder: why Rick started WeathermanLeveraging credibility without turning the brand into a gimmickHow Weatherman landed major logos like the U.S. Open and PGA early onGetting into the room without paying Rolex-level sponsorship dollarsDonating in-kind vs cash sponsorships as a growth strategyDifferentiation in a crowded umbrella market:Wind resistanceDurability engineeringQuality materials at a fair pricePositioning: premium performance without luxury pricingThe LTV challenge of a low-frequency purchase productDriving repeat purchases in a category people “only buy once”Operational improvements that meaningfully moved EBITDARetail channel strategy and brand expansionIf you’re a creator thinking about launching a product, or a founder building in a non-sexy category, this episode will change how you think about distribution and product truth.

  12. 44

    Distribution Is the Moat, How Freestyle Diapers is Winning

    Freestyle pivoted twice before it found real velocity.Russ Wallace joins In The Money to break down how his seven-figure brand that wasn’t quite clicking transformed into one of the fastest-growing challenger diaper brands in mass retail, by letting go of a story that mattered to the founders and obsessing over what actually mattered to customers.We cover:The two major pivots that changed Freestyle’s trajectoryWhy the original bamboo sustainability story wasn’t enoughBuilding SkinShield: a performance-first diaper that outperforms incumbentsLetting go of founder ego to chase mass appealWhat retailers actually respond to (and why bamboo didn’t scale in mass)The 12–18 month retail sales cycle and surviving missed windowsLearning for three years before earning distributionWalmart as a five-year “at bat” that finally hitThe J-curve of retail profitabilityWhy over-delivering early matters more than near-term marginDriving velocity without clear attributionCommunity building IRL: mom walks, coffee pop-ups, authentic storytellingSpreadsheet > dashboard: why manual data entry keeps founders sharpTrade-down dynamics and pricing in a K-shaped economyThis episode isn’t about hacks. It’s about endurance, product obsession, and staying alive long enough to win.

  13. 43

    From Crickets to Customers: Creating a New Pet Food Market

    Chickens are now the third-most popular pet in America and almost no one in tech or venture is paying attention.Sean Warner, Co-Founder of Grubbly Farms, joins In The Money to break down how he built an 8-figure consumer business by leaning into one of the fastest-growing and most overlooked pet categories in the U.S.: backyard chickens.What started as an insect-protein experiment turned into a $4B+ niche market opportunity driven by habit, subscription, and education, not hype.We cover:Why pet chickens are one of the fastest-growing pet categories in the U.S.How Grubbly discovered the category through customer discovery (not a pitch deck)Why insect protein found product-market fit in pet chickens before dogs or catsThe economics of niche markets: higher willingness to pay, lower CAC volatilityCommunity as a moat: blending customer service, education, and product developmentSubscription dynamics and why Grubbly’s 12-month retention (~55%) is well above category averagesProduct expansion that actually works (and launches that were too early)If you care about real unit economics, category creation, and overlooked consumer opportunities, this episode is worth your time.

  14. 42

    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.

  15. 41

    How Better Forecasting Became Branch's Best Funding Round

    Branch almost died in March 2020. A $4M B2B pipeline collapsed to $30K in ten days, and the company had to reinvent itself overnight.In this episode, Greg Hayes, co-founder of Branch, walks through one of the most consequential pivots in modern consumer: going from B2B office furniture to DTC at the height of COVID, and then rebuilding the company again into a multi-channel, profitable, capital-efficient business.This is a rare, deeply tactical conversation about what it actually takes to scale an asset-heavy consumer brand without blowing up the balance sheet.We cover:The near-death pivot from B2B to DTC, and why speed mattered more than perfectionHow COVID supply chain chaos forced real product quality disciplineChannel strategy across DTC, B2B, Amazon, and wholesale (West Elm)Why product line expansion + channel expansion unlocked continued growthThe hidden economics of furniture: tooling, MOQs, inventory, damage ratesHow Branch improved gross margins by ~35% in two yearsEngineering products into margin instead of being a price takerBundling, AOV expansion, and making furniture an LTV businessWhy capital efficiency beat raising $30–50M in growth capitalHow VC expectations for physical product companies have changed since 2021Why diversification across products and channels reduces existential riskThis is not a growth-hack episode. It’s a blueprint for building a real, durable consumer business in a hard category.If you’re a founder, operator, or investor navigating capital-intensive consumer, this episode is required listening.

  16. 40

    Velocity Over Vanity: How to Really Evaluate Food Brands

    Food is capital-intensive, margin-compressed, and brutally hard, so why do some investors still believe it’s one of the most underfunded opportunities in venture?Nate Cooper, founder of Barrel Ventures, joins In The Money to break down how he underwrites food and beverage businesses, from pre-revenue to Series A, and why velocity, habit, and lifetime value matter more than software-style margins.This episode is a clear-eyed look at food as a venture-backable asset class, what most founders misunderstand, and how to think about scale realistically in 2025–2026.We cover:Why food is one of the hardest, and most misunderstood, venture categoriesHabitual consumption and why LTV can outweigh lower marginsVelocity vs door count (and why door count is a vanity metric)What makes a food brand venture-scale vs just a “good business”How Barrel underwrites from pre-revenue through Series ACase studies:Ollipop and filling the soda → better-for-you gapNowadays and the decline of alcohol consumptionLoveCorn and loyal repeat purchase dynamicsTrends Nate is watching into 2026:Protein and functional ingredientsAlcohol alternatives and THC beveragesFuture-proofing ingredients (cocoa, fermentation, precision biology)This is not a hype conversation. It’s a grounded discussion about building real food businesses that survive, scale, and compound.

  17. 39

    The Hard Truth About Growth When the Wind Isn’t at Your Back

    Is growth a marketing problem or a market problem?Isaac Mertens, founder of Flux Footwear, joins In The Money for one of the most honest operator conversations of the year.Isaac has trained as a media buyer, worked at a top-tier agency, spent eight figures on paid media, and still says this plainly: great marketing can’t save you from a bad market and no agency is coming to rescue your business.This episode is a deep dive into founder accountability, profit-first thinking, and what actually moves the needle for mid-market DTC brands when growth stalls.We cover:Market vs marketing, and why even elite media buyers still struggleWhy founders must deeply understand paid media (even if they outsource it)The myth that switching agencies fixes growthWhy “ending flat” can be a win in today’s environmentHow Flux unlocked profit using cashback instead of discounts (BFCM breakdown)Why 50% off doesn’t always mean 50% margin lossPrice testing as an underrated profit leverWhy outside capital can quietly destroy revenue qualityThe hard truth about TAM, niche ceilings, and footwear economicsWhen growth capital actually makes sense, and when it doesn’tHow Isaac thinks about wholesale, retail, and the next phase of FluxThis is not a hype episode.It’s a real conversation about survival, profit, and building something durable in modern DTC.If you’re a founder, operator, or investor navigating flat growth, rising costs, and tougher markets — this episode will recalibrate your thinking.

  18. 38

    Capital, Category Creation & Where Smart Money Is Moving in Consumer

    How do you actually underwrite early-stage consumer when the data is thin, capital is tighter, and durability matters more than hype?Lori Cashman, Founding Partner at Visible Ventures, breaks down how she evaluates founders from Seed to Series A, and why founder-market fit, retention, and demographic tailwinds matter more than vanity metrics.This episode is a masterclass in investor judgment, capital allocation, and building consumer businesses that last.We cover:Balancing early data with intuition in consumer investingWhat founder-market fit really means and how to spot blind spots earlyWhy there’s no single “right” founder profile (and the one archetype Lori avoids)Retention vs acquisition in the earliest inningsThe demographic shifts shaping the next decade of consumer:Wealth transfer to women and Gen ZGen Z as the next engine of GDP growthHealth, longevity, financial literacy, and upward mobilityCase studies from the Visible portfolio (pet, beauty, devices, science-backed consumer)When to lean into growth vs preserve optionalityCoaching founders through downturns, fundraising delays, and channel pivotsWhy P&L fluency and cash-flow discipline are non-negotiable heading into 2026The compounding power of founder-led storytelling and communityIf you’re building, backing, or underwriting consumer brands, this episode sharpens your edge.

  19. 37

    Greg Davidson on Capital Discipline, Channel Strategy & Scaling Smarter

    How did two non-parents build one of the most design-forward, community-trusted baby brands in America and then blow the doors off retail with a 43-SKU Target launch?Greg Davidson, co-founder & CEO of Lalo, breaks down the entire playbook.This episode goes deep into consumer insight, design taste, category white space, SKU expansion, operational pain, retail rollout strategy, and the fundraising reality of a modern DTC/CPG brand. Greg is unusually transparent, especially about what worked, what didn’t, and what he’d do differently.We get into:Why Lalo’s original superpower was naivete and why it still mattersHow two guys with no kids built a category-defining aestheticDesigning baby products using zero baby-product inspirationThe “Mastige” positioning strategy: premium feel, mass-market appealWhy Lalo’s mood boards never include competitors; only furniture, art, architectureBuilding a connected product ecosystem (high chair → play kit → tableware → bathroom → whole home)The real risks of SKU expansion: AOV compression, working capital drag, margin complexityInnovation as marketing: why small functional tweaks can drive massive revenue spikesThe truth about retail: why Lalo skipped crawl/walk and went straight to sprintWhat it takes operationally to land (and survive) a 43-SKU Target rolloutFundraising reality: from $10K checks to major institutional roundsThe hidden cost: 25%+ of a founder’s mental bandwidth tied up in fundraisingIf you want to understand how modern consumer brands scale through product, design, community, and distribution, this is a masterclass.

  20. 36

    The New Consumer Landscape: Capital Cycles, Moats & Market Reality

    What actually makes a consumer brand break out and stay durable in a world where attention spans are collapsing and CAC is chaos?Shamin Walsh has spent a decade underwriting early-stage consumer bets at BAM Ventures. She’s backed companies like Honey and Pretty Litter before they became household names and she breaks down exactly what separates the winners from everyone else.This episode goes deep into how founders should think about product vs distribution, paid acquisition vs brand, fundraising sequencing, customer psychology, and why timing can make (or destroy) an outcome.In this episode:The biggest shift in founder–investor dynamics over the last decadeWhy the best founders are deep psychologists of their customersHow Honey and Pretty Litter cracked consumer behavior in totally different waysThe real definition of “solving a problem” in CPG (it’s not what people think)The pendulum swing back toward brand marketing and emotional resonanceWhen performance marketing matters and when it becomes a trapHow BAM evaluates pre-seed consumer companies without hard revenue thresholdsWhat’s actually changing in consumer behavior (nostalgia cycles, GLP-1 ripple effects, faster trend turnover)Why timing the market is impossible and what investors look for insteadThe truth about product innovation vs distribution: “If nobody sees it, it doesn’t matter.”If you want to understand the next decade of consumer, this conversation gives you the map.

  21. 35

    Bootstrapped, Profitable, and Growing, Bushbalm’s Playbook for Sustainable Success

    In this episode of In The Money, we sit down with David Gaylord, Co-Founder & CEO of Bushbalm, one of the fastest-growing skincare brands in North America and a case study in how disciplined, product-led consumer companies scale from zero to tens of millions.David breaks down the real economics behind building a modern beauty brand, from pricing and margins to channel contribution and how Bushbalm engineered a high-retention, high-LTV product ecosystem in one of the most competitive categories in consumer.We dive deep into:How Bushbalm identified a massive underserved problem and built a category around itThe real margin structure of creams, serums, and body-care productsHow the brand expanded from pure DTC into retail and professional channelsWhat contribution margin looks like across DTC, Amazon, pro, and retailCAC, LTV, attribution, and the creative strategies that actually workWhy subscription only explains part of their LTV and what really drives the restHow David thinks about scaling SKUs, line extensions, and operational complexityWhat coming from Shopify taught him about building a brand from scratchIf you're a founder, marketer, operator, or investor looking to understand how real consumer brands build durable revenue, this is one of the most tactical conversations of the year.

  22. 34

    Inside the Playbook: Financing DTC and CPG Brands Through Rosenthal’s Asset-Based Lending Lens

    In this episode of In The Money, we sit down with Andrew Barone at Rosenthal & Rosenthal, one of the leading privately held asset-based lenders. Andrew has financed hundreds of consumer and eCommerce brands through every stage of growth.We dive deep into the real financial mechanics behind consumer brands:inventory cycles, margin truth, receivables risk, retail payment terms, PO financing, seasonal cash crunches, and what actually happens when a brand runs out of runway.Whether you’re a founder, CFO, investor, or operator, this is a masterclass in non-dilutive capital, credit underwriting, and how to fund growth without blowing up your balance sheet.What We Cover:How asset-based lending really works for DTC & omnichannel brandsWhen to use inventory financing, PO financing, or receivables factoringHow lenders evaluate risk: margin structure, customer concentration, and operational maturityWhat causes working capital crises in consumer brandsThe biggest mistakes founders make with cash flow forecastingHow “real margins” differ from Shopify dashboardsWhy non-dilutive credit can outperform equity for certain brandsWhat lenders see in the market right now: demand, distress, consolidation

  23. 33

    From Fads to Foundations: Amanda Schutzbank on the New Era of Consumer Investing

    In this episode, I sit down with Amanda Schutzbank, Co-Founder and General Partner at Willow Growth Partners, one of the most thesis-driven and disciplined early-stage consumer funds in the market. Willow specializes in backing health, wellness, and essential-category brands in the $2m–5m revenue range, often before they’re household names. Their portfolio includes hits like Coterie, Goodles, Bubble, Parallel, and others that have since become category leaders.Amanda breaks down:How consumer investing has shifted from peak 2020–2021 froth to today’s slow, selective, fundamentals-first environment.What a “truly great asset” looks like: strong margins, authentic emotional resonance, real product differentiation, and the seeds of a platform brand.Why community is the ultimate moat, from micro-influencers to insider Facebook groups to immersive IRL experiences.The difference between venture-backable brands and “great but non-VC” lifestyle businesses and how founders should think about which path they’re really on.How Willow evaluates founders: clear vision, ruthless execution, decisiveness, and the ability to hire an A-team early.The consumer trends she’s most excited about: Gen Alpha, longevity, GLP-1 impacts, next-gen science-based VMS, and the next wave of cultural-led brands.Why Amazon, TikTok Shop, and AI-enabled lean teams are changing early-stage consumer building forever.What founders should prioritize heading into 2026 and why timeless fundamentals still separate enduring brands from “flash-in-the-pan” plays.She closes with a call-to-action: Willow just closed its second fund and is actively looking for high-margin, high-repeat, health & wellness-aligned consumer brands raising their first institutional round.

  24. 32

    From Frozen Bread to Fresh Profits: The Wildgrain Playbook for Lean, Durable Growth

    How Wildgrain Built a Profitable, High 8-Figure Food Brand With Just 18 EmployeesIn this episode, I sit down with Ismail Salhi, co-founder & CEO of Wildgrain, one of the most impressive subscription food businesses of the last decade; profitable, high eight figures in revenue, and run by a shockingly lean team.Ismail breaks down how Wildgrain escaped the classic DTC plateaus at $3M, $10M, and $30M+ by combining:- Subscription economics that smooth CAC volatility- Channel-by-channel marketing arbitrage (some channels only work two months a year)- Constant 1–2% improvements in AOV, COGS, retention, and pricing- Aggressive product innovation (e.g., gluten-free launch = massive CAC unlock)- A tech-first mindset; building internal tools for forecasting, CX, merchandising, shipping, and more- A ruthlessly lean team (just 18 people + automation + AI everywhere)If you’re building a CPG or subscription brand or want a masterclass in resourceful, operationally excellent, AI-enabled eCommerce this one is a must-watch.

  25. 31

    Focus, Moats, and the New Consumer Playbook with Drew Skolnik of KarpReilly

    The consumer investing landscape has shifted and few people have a better view of that evolution than Drew Skolnik, Partner at KarpReilly, one of the most respected growth equity investors in consumer, retail, and CPG.In this episode, Drew breaks down how capital discipline, focus, and brand fundamentals have become the new edge in consumer investing.We cover:How investor expectations have changed since the 2021 boomWhy sustainable growth now beats blitzscalingThe “hand-to-mouth tax” founders pay for undercapitalizationHow KarpReilly evaluates brands between $20M–$100M in revenueCase studies like Boxycharm, Spindrift, and Made InWhy protein is a durable macro trend and what GLP-1 drugs mean for food and beverageThe rising role of AI in portfolio operations and marketingDrew also shares what he looks for in founders, the importance of execution as a moat, and why the best businesses are often built in tough environments.

  26. 30

    From Red Antler to Habitat: Building the Next Generation of Consumer Venture

    What happens when one of the most iconic brand-building agencies in the world spins out its own venture capital business?In this episode, I sit down with Daniel Faierman, Partner at Habitat Partners, the venture firm incubated out of Red Antler, the brand and creative powerhouse behind breakout names like Allbirds, Hims, and Casper.We talk about how Habitat approaches investing at the intersection of brand, behavior, and capital, what they’ve learned from years of shaping cultural category leaders, and why today’s best early-stage consumer bets often blur the line between product and narrative.Key topics we cover:How Red Antler’s DNA shaped Habitat’s investment philosophyThe shift from brand-led to insight-led investingWhat early signals make a founder or concept stand out in 2025Why “brand is distribution” is no longer just a slogan, it’s a moatWhere the next wave of breakout consumer companies will come from🎧 Tune in for a masterclass on how brand-first investing is evolving for the next decade.

  27. 29

    Every Point of Profit Cuts into Health: Kevin Lee on Scaling Immi Without Compromise

    Kevin Lee, co-founder of Immi, joins In The Money to talk about how he and his co-founder took one of the world’s most iconic comfort foods, instant ramen, and rebuilt it for modern consumers.From tech to CPG, Kevin shares what surprised him about running a food brand, how Immi evolved from “healthy ramen” to a taste-first protein brand, and what he’s learned about navigating product innovation, retail expansion, and celebrity partnerships.We go deep on:How Immi pivoted its brand identity to feel authentic and founder-ledWhy food brands must “live long enough to catch a trend”What most founders misunderstand about food margins and channel mixHow Immi raised from top VCs and landed investors like Naomi Osaka and UsherWhy diversification beyond China was their biggest operational winIf you’re building in food, CPG, or modern consumer goods, this episode is a masterclass in brand building, discipline, and timing.

  28. 28

    From Overlevered to Profitable: How &Collar Turned Debt into Discipline

    In this episode of In The Money, we sit down with Ben Perkins, Founder of &Collar, the fast-growing direct-to-consumer menswear brand known for reinventing the classic white dress shirt.Ben shares how &Collar went from being overlevered and on the brink, with $10M in revenue and $2M in debt, to becoming a profitable, eight-figure business growing double digits year-over-year. He talks candidly about:- The painful lessons of taking expensive MCA debt and refinancing through an SBA-backed bank loan- How he drove accountability by assigning every employee a personal P&L- The discipline of cutting Meta spend by 35% and still growing revenue- Unlocking new growth through wholesale and Amazon while holding the DTC line- Building a “rule of 40” business, growth plus profit, instead of chasing unicorn outcomes- The art of focusing on your “white shirt” equivalent and scaling the product that truly drives profitBen’s story is a masterclass in turning around a consumer brand, from financial literacy to capital discipline to smart channel expansion. If you run a $5–25M consumer brand and are looking to build something durable and profitable, this one’s for you.

  29. 27

    Global eCommerce After De Minimis: Passport CEO on Tariffs and the Future of Cross-Border Brands

    In this episode, I sit down with Alex Yancher, Co-founder and CEO of Passport Global, the logistics platform powering cross-border commerce for some of the world’s fastest-growing brands.Alex breaks down the new rules of international eCommerce as the U.S. ends the de minimis exemption and tariffs rise globally. He explains how brands can turn geopolitical risk into strategic advantage through localized operations, better contribution modeling, and thoughtful channel expansion.You’ll learn:🌎 What the end of the de minimis exemption means for global DTC brands📦 Why U.S. brands must rethink fulfillment, tariffs, and landed cost modeling📊 The “laddering” framework to scale from 1% to 30% of sales internationally💰 How to think about P&L resilience and contribution margin in a volatile trade worldWhether you’re a founder, operator, or investor, this episode is a masterclass in navigating global eCommerce in 2025.

  30. 26

    From $0 to Mid–Eight Figures: Vital Plus and the Discipline Behind Explosive Growth

    In this episode, I sit down with Cam Mehr, Founder of Vital Plus, one of the fastest-scaling wellness hardware brands redefining the cold plunge category.Cam shares how he built an eight-figure eCommerce business with no outside capital and a lean team, proving that focus, efficiency, and operational discipline can beat headcount and hype.We cover:⚙️ How to run an ultra-lean DTC company that punches above its weight📊 Why reporting is a low-value task and what to do instead💡 How deep founder-level understanding of every function creates “alpha” in operations📈 The mechanics behind scaling cold plunge products globally, across four regions🌏 What Australian founders get right about entering the U.S. market🤖 How AI literacy is now a must-have in every new hireCam also explains his philosophy of “engineering the P&L,” reinvesting every operational efficiency back into growth and why staying small and obsessed with your category can be a superpower in consumer wellness.

  31. 25

    Building Beyond Basics: Brian Berger on Scaling Mack Weldon in the New DTC Era

    Brian Berger, Founder and CEO of Mack Weldon, joins the podcast to share the story of building one of the most recognized DTC menswear brands.In this episode, Brian dives into:- The early days of Mack Weldon and the insight that sparked its launch.- How the brand evolved from basics into a full men’s lifestyle platform.- The shift from DTC performance marketing arbitrage to brand storytelling and omnichannel expansion.- What it takes to scale profitably in today’s environment and the mistakes to avoid.- How consumer preferences have changed since the early DTC boom.- The biggest wins and challenges he’s seen while steering Mack Weldon through a decade of growth.If you’re interested in DTC strategy, omnichannel retail, and the future of consumer brands, this episode is packed with lessons from one of the most seasoned operators in the space.

  32. 24

    Cracking the Ecommerce Equation, Jay Wright on Scaling DTC Brands Without the Black Box

    In this episode, I sit down with Jay Wright, Founder of Ecommerce Equation, to talk about scaling eCommerce brands in today’s environment. Jay shares insights from managing over half a billion dollars in annual ad spend and coaching thousands of brands.We dive into:- Why Meta’s evolving AI-driven ad platform is still the #1 channel for growth.- How creative and avatar diversification have become the new levers for scale.- Lessons from brands that went from mid-seven figures to nine-figure exits.- Why ads only solve “ad problems”, and the bigger challenges often lie in conversion, unit economics, cashflow, and infrastructure.- How Ecommerce Equation helps brands break through plateaus with clear playbooks and financial discipline.Jay also shares benchmarks from his community, including how 266 brands hit their first six-figure months and how the average member achieved 8 weeks’ worth of revenue in just one Black Friday weekend.

  33. 23

    Inside True Beauty Ventures: What It Really Takes to Raise Capital in Beauty Wellness

    In this episode, I sit down with Caroline Weintraub of True Beauty Ventures, one of the most respected specialist investors in the beauty and wellness space. Caroline breaks down what she and her team look for when evaluating early-stage brands; from their “Five P’s” framework (Positioning, Product, People, Performance, Partnership) to the importance of strong omni-channel distribution and true differentiation in crowded categories.We dive into:- What milestones matter most before raising capital (2–5M revenue, Sephora/Ulta placement, retention & margins).- Why patented tech and expert-led brands (like K18 and Dew) are standing out.- How TBV’s portfolio flywheel creates advantages in retail, data, and partnerships.- Caroline’s perspective on the tight fundraising environment, and why bootstrapping early can lead to better outcomes for founders.- The convergence of beauty and wellness and where she sees opportunity next.- Why affiliate marketing is outperforming traditional influencer campaigns today.If you’re a founder in beauty, wellness, or consumer, this conversation is packed with practical insights on fundraising, positioning, and scaling with the right partners.

  34. 22

    From Doris Dev to Canopy: Building Beauty’s Most Innovative Hardware Brand

    In this episode, I sit down with Justin Seidenfeld, Co-founder and CEO of Canopy, the beauty-meets-wellness hardware brand redefining humidifiers, shower filters, and home rituals.Justin shares his unique journey from agency operator at Doris Dev, where he worked with breakout brands like Magic Spoon and Pattern, to going all in on Canopy. We cover:- Lessons from his early career at Quirky and Gravity, and why many high-growth consumer startups don’t make it to the big exit- Why Canopy was incubated inside Doris Dev and the aha moment that reframed humidifiers from “sick-day appliances” to skin-health beauty devices- The importance of capital efficiency, and how raising only angel/strategic funding (not big institutional rounds) shaped Canopy’s DNA- How the brand is navigating omnichannel growth with Sephora, Target, and DTC, plus the hidden complexity of driving sell-through at retail- The role of product innovation in expanding the platform into shower heads, tub filters, and aroma diffusion- What Justin believes founders often get wrong about product innovation and how to build holistically for long-term defensibility- His biggest wins of the past 12 months, and why the next phase of growth is all about retail expansion + new products

  35. 21

    From Dang Foods to Sherwood Partners: Lessons in Building, Falling, and Restructuring Consumer Brands

    In this episode, I sit down with Andrew Kitirattragarn, Founder of Dang Foods and now a restructuring expert at Sherwood Partners. Andrew’s story is a rare one: he built a beloved, nationally distributed snack brand that raised over $12M in venture funding, scaled into thousands of retail doors - and ultimately didn’t deliver the big exit he had hoped for.We dive deep into:The rise and fall of Dang Foods, and the hard lessons learned from scaling a CPG brandWhy raising venture capital can sometimes push founders into unsustainable growth pathsThe emotional and financial realities of winding down a consumer businessHow those experiences led Andrew to Sherwood Partners, where he now helps distressed brands restructure or find new paths forwardThe warning signs founders should watch for in their own businesses, and what to do before it’s too lateThis conversation is equal parts founder therapy and hard-nosed playbook for surviving in consumer. If you’re building a DTC or CPG brand, you won’t want to miss Andrew’s candid perspective.

  36. 20

    Inside the Process of Raising from a Consumer Brand Fund

    In this episode, I sit down with Mollye Santulli, Investor at Springdale Ventures, an early-stage VC firm focused on backing the next generation of consumer brands. Springdale reviews nearly 1,000 deals a year and invests in just 5–10, making Mollye’s perspective invaluable for founders navigating the fundraising landscape.We cover:- How Springdale filters opportunities, from first pitch deck to investment decision- The founder traits and proof points that matter most at the seed stage- Why community, repeat behavior, and authentic brand love are crucial signals for investors- What separates brands that make it from Seed to Series A in today’s tighter capital environment- The role of celebrity/influencer-led brands and retail-first launches- Consumer trends Mollye is most excited about, including Gen Z entering parenthood and the rise of superfan-driven brand communities- Her advice for founders: focus on capital efficiency, know your levers, and choose your investors as carefully as they choose youIf you’re a consumer brand founder or operator, this conversation is packed with tactical insights on what VCs really look for and how to scale in 2025.

  37. 19

    Tactics to Get Unstuck as a Mid-7-Figure Brand

    In this episode, Brad Plock of WRK Marketing shares the frameworks and playbooks he uses to help brands get unstuck and scale sustainably. We talk about:Why a “good” ROAS in 2025 depends on margins, contribution dollars, and payback windowsHow to diagnose a mid-seven-figure brand that’s plateaued, from MER vs. CAC splits to repeat revenue driversCreative frameworks that actually move the needle like persona-led landers and raw UGC review adsThe surprising power of retention campaigns on Meta to double repeat revenueWhere AI adds leverage in ad creative, landing page congruency, and ops; and where humans still matter mostReal-world examples: growing an internal brand from $0 to $1.5M in six months, and helping clients leap from $150K to $700K/monthIf you’re operating a DTC or CPG brand, this episode is packed with practical tactics, financial discipline, and a few hard truths about what really works in eCommerce today.

  38. 18

    Navigating Fashionization and Deprescriptionization in Health and Wellness

    Allie Egan, founder and CEO of Veracity, is rethinking what the future of consumer health looks like.In this episode, we dive into:Why Veracity pivoted from at-home hormone testing to building its hero product, Metabolism Ignite, and what that shift taught Allie about consumer adoption in healthHow she sees the “fashionization of supplements”, making wellness products not just about function, but also about identity, design, and cultural resonanceWhy Allie believes the future of health is “deprescriptionization”, helping people reduce long-term dependence on medicationThe evolving weight management landscape in the age of GLP-1s and where Veracity fits inHer advice for founders building brands at the intersection of science, trust, and consumer demandIf you’re curious about how consumer health is being reshaped by science, design, and shifting behaviors, this episode is for you.

  39. 17

    Building of a Digitally-Native Omnichannel CPG Hold Co

    Josh Williams is the co-founder and CEO of Very Great, the company behind design-led consumer brands like W&P, Wild One, and Courant. In this episode, we dive into how Josh has built and scaled a portfolio of category-defining brands without chasing unsustainable growth. He shares the Very Great playbook for identifying white space, building timeless products, and staying disciplined in an era of hype-driven consumer brands.We cover:How Very Great balances creativity with operational disciplineThe decision-making process for launching or acquiring brandsWhy category focus and design DNA are at the core of their strategyLessons from scaling brands in different price points and retail channelsJosh’s outlook on consumer product innovation in 2025Whether you’re a founder, investor, or brand builder, this conversation is packed with insights on building enduring consumer brands in a fast-changing market.

  40. 16

    Building Both a Living Product Moat and Brand Equity

    In this episode, I chat with Josh Armstrong, Founder of We The Wild, the plant care brand taking root across Target, independent retail, across both the US and Australia.Josh shares how the company built a product moat around living microbes, why he believes in mental availability over marketing hacks, and what he’s learned scaling from zero to a high-growth, omni-channel brand.We cover:How getting kicked out of Home Depot for customer research led to real product-market fitWhy distinctiveness, not virality, drives brand equityThe surprising complexity of eCommerce vs. retailHow merchandising and education became a growth engineThe discipline it takes to grow profitably in CPGThis is a candid look at what it takes to build something meaningful and defensible in consumer goods.

  41. 15

    Why Better Product, Not Better Marketing, Wins in CPG

    What happens when you actually listen to 1,000+ customers before scaling a brand?In this episode, Black Wolf Co-Founder Sam Lewkowict shares how he turned direct customer insight into one of the most operationally disciplined and product-focused men’s grooming brands in the space.We cover:- Why better product, not better marketing, is the CPG moat- The real reason they launched grooming devices (and what didn’t work)- How DTC, Amazon, and retail actually work together- Why sending emails that link to Amazon isn’t crazy (it’s smart)- What AI will change for CPG operators, and what it won’tSam is sharp, honest, and refreshingly clear on what it takes to build a sustainable brand in 2025.🎧 If you care about margin, distribution, and product-first growth don’t miss this one.

  42. 14

    Cutting Down to Find Product-Market-Fit and Doubling Down on Winners

    In this episode, I sit down with Hudson Davis-Ross, co-founder of Plant People, to unpack how the brand went from a COVID-era collapse to one of the fastest-growing wellness companies in the mushroom supplement space.We talk about:How SKU rationalization and focus on one breakout product (WonderDay mushroom gummies) sparked a turnaroundWhy mushroom-based wellness is set to go mainstream—unlike CBDThe omni-channel strategy driving growth across Whole Foods, Amazon, and DTCHow they’re balancing science, branding, and accessibility to win both power users and casual wellness consumersHudson shares hard-won lessons on capital efficiency, channel strategy, and how to build a durable wellness brand without chasing hype. If you’re building in CPG or wellness, this one’s a must-listen.

  43. 13

    From DTC Drift to Focused, Profitable Growth with Italian Sneakers, Brand DNA, and Doing Less, Better.

    Chris Wichert, co-founder of Koio, joins the show to share the full story behind Koio’s transformation — from overextended DTC brand to lean, focused luxury business.In this episode, we cover:🧵 How Koio doubled down on Made-in-Italy quality (despite pressure to offshore)📉 Why they slashed SKUs and shut stores to regain margin and focus🤝 The economics behind their Rose Anvil and La Marzocco collabs📦 How Koio restructured its team and marketing to run lean and profitable👟 What they're launching next — and how they’re staying disciplined on growthIf you're navigating a reset or exploring what brand longevity really looks like in 2025, this one’s for you.

  44. 12

    Leveraging Fandom and Community to Avoid the Meta Hamster-Wheel

    What if you built a breakout apparel brand without relying on Meta ads?Connor Hitchcock did just that with Homefield, a cult-loved collegiate brand now licensed with over 200 schools and doing 8-figures in revenue.In this episode, we dig into:- Why only 5% of their revenue goes to Meta and how word-of-mouth does the rest- How recreating tailgates in college bars became their marketing moat- The surprising ROI of selling $220 bundle boxes (yes, they crushed)- What licensing economics really look like in college sports- Why running Homefield is basically sports gambling with inventoryIf you care about brand, community, and doing things that don’t scale—this one’s for you.

  45. 11

    Navigating Investors Seed to Growth, Credit to Equity in CPG

    This week on In The Money, I sat down with Asher Hochberg, Partner at Rootspring Ventures and former GP at CircleUp, to break down the state of early-stage investing and brand building in 2025.💥 What’s changed?• No more vibe rounds. Investors are trading buzz for margin discipline.• Being “cool” isn’t enough. Brands need a reason to exist and a loyal repeat customer.• Growth equity is back—but with teeth. PE-backed strategics want EBITDA, not just traction.• Storytelling ≠ Instagram ads. Narrative now means LTV, retention, and product moat.⚖️ We talked about how smart founders are navigating:The risk/growth balance in a tighter capital marketWhen to scale retail vs. when to say noWhat investors are actually looking for at seed and Series B🧠 Favorite line from Asher:"Strong brands used to get funded on buzz. Now, they get funded on retention."

  46. 10

    Building a Career in CPG as Founder, Investor, Executive, Acquirer with Matt Jung

    In this week’s In the Money podcast, we chat with Matt Jung, CEO of Goodonya, about his multifaceted career in the CPG world—from his early days as a founder to his role as an investor, executive, and now acquirer. 🛠️💼💡 Highlights:From Founder to Executive: Matt shares what it was like founding multiple brands before taking on leadership roles at CPG startups.The Power of Investment & Acquisition: What Matt looks for in a brand to buy, and how he’s successfully navigated brand acquisitions.Rebranding Success: Goodonya grew 125% YOY without paid ads—Matt breaks down the organic growth strategy that’s working for the brand.

  47. 9

    Crawl, Walk, Run of CPG Growth with Anna Whiteman

    We sat down with Anna Whiteman of Coefficient Capital to unpack how institutional investors are thinking in 2025.Key takeaways:Venture funding starts a clock. Founders underestimate how quickly VCs need to return capital. Ask yourself: does your model actually require venture dollars?Operate from strength, not scarcity. Don’t raise to feel safe — raise when you have retention, gross margin, and a clear ROI path for growth spend.Retail success ≠ scale fast. Nail product-market fit in DTC first. Then test retail in small doors before national rollouts. “Hero SKU. Double facings. Iterate fast.”Discipline wins. The best brands today balance growth and profitability from day one — and are more fundable because of it.Anna also teased that TikTok Shop has now surpassed Sephora in GMV. Yes, you read that right.

  48. 8

    Brands, Creators, Agencies, and AI with Shwinnabego

    In this wide-ranging conversation, Ashwin shares hot takes on the real economics of agencies vs. eCommerce brands. He argues that software is ultimately the best way to build wealth, while agencies offer better cash flow and brands offer scale but require much more upfront capital and risk.Ashwin walks through his "learn one, do one, teach one" philosophy—where the agency is where he learns, the brand is where he executes, and content is where he shares. He discusses the importance of audience differentiation over product differentiation using examples like Rhone vs. 10,000 in the athletic shorts market.On AI, he details how he uses ChatGPT daily for strategic insights—compressing 36 hours of customer research into 1 hour. He emphasizes pushing AI harder through iterative prompting, not just accepting first outputs.Thanks to sponsors: Move Supply Chain - https://movesupplychain.com/homepage/mt/ Numeral - https://numeralhq.com/Parker - https://www.getparker.com/

  49. 7

    The Power of Brand Focus and Niche Markets with Rob Fraser

    From Socks to Scale: How Outway Doubled Revenue and Cracked U.S. GrowthRob Fraser, founder of Outway, joined In the Money to break down how a $20 sock brand became a fast-growing eight-figure business. Key takeaways:AOV & LTV Optimization: Though socks are a low-price product, Outway lifts average order value through multi-pair purchases and creative upsells (like $10 mystery pairs). LTV is strong — ~50% of sales come from repeat buyers, with many returning within 30 days.Focus Beats Expansion: After dabbling in other categories (underwear, sunglasses), Rob doubled down on socks — a $10B market in North America alone — choosing to deepen penetration through omnichannel rather than dilute focus.IRL Learning Advantage: Outway scaled in Canada by selling socks face-to-face at cycling events and expos. These in-person interactions helped shape positioning, merchandising, and website design — including how to manage decision fatigue with a 600+ SKU catalog.Omnichannel Playbook: Outway now sells DTC, Amazon, wholesale, and through a thriving private-label arm. Each channel serves a different strategic purpose, with DTC offering the widest catalog and exclusive drops.U.S. Breakthrough: After years of slow traction, Outway’s U.S. growth is finally clicking — up 10% MoM recently. The unlock? Clearer positioning, better Meta creative, and an unemotional data-led approach to growth.Marketing That Doesn’t Show Up in Northbeam: Outway gives away hundreds of thousands of socks through event sponsorships and brand collabs (e.g., TED, Disney). Though hard to attribute, Rob says these initiatives pay off in long-term awareness and word of mouth.Biggest Win: Hiring a fractional head of growth who helped reorganize creative, ad strategy, and conversion flow — resulting in 90% YoY growth on a sizable eight-figure base.Thanks to sponsors:More Staffing - ⁠https://morestaffing.co/mt/⁠Numeral - ⁠https://numeralhq.com/⁠Parker - ⁠https://www.getparker.com/

  50. 6

    Why Product Focus Wins In the Long Run with Connor Wilson

    Connor Wilson, Co-Founder and CEO of Thursday Boot, joins us to share how the brand grew from a lean DTC startup into a long-lasting, multi-category business. He digs into what it takes to scale with pricing discipline, own your manufacturing, expand into retail the right way, and keep product at the center—no matter how complex things get. A must-listen for anyone building a brand with conviction, not shortcuts.Thanks to sponsors:More Staffing - ⁠⁠https://morestaffing.co/mt/⁠⁠Numeral - ⁠⁠https://numeralhq.com/⁠⁠Parker - ⁠⁠https://www.getparker.com/⁠

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ABOUT THIS SHOW

A podcast about the real economics of ecommerce, DTC, and CPG. Hosted by Fan Bi, In The Money features honest convos with the people building, growing, and investing in modern consumer brands.

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In The Money: eCommerce, DTC, and CPG

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