Consumer Isn’t Dead, VC Just Got It Wrong ft. Michael Duda

About this episode

In this episode, Mike Gelb interviews Michael Duda about the current state of consumer investing and the misconceptions in venture capital.

Glimpse is the all-in-one, AI-powered deductions management platform for CPG brands—automating deduction capture, classification, disputes, and accounting. Recover more revenue while saving time – https://www.tryglimpse.com In this episode, Mike chats with Michael Duda , Founder and Managing Partner of Bullish , the consumer-focused investment firm behind brands like Peloton, Warby Parker, Harry’s, Hims, and more . Michael has spent over a decade backing consumer companies that quietly compound value while the rest of venture chases hype cycles. Michael breaks down why consumer has fallen out of favor in VC, why most people misunderstand power-law returns, and why an 8–12x outcome in consumer can still be a massive win. He also shares how Bullish evaluates founders, why product matters more than marketing, how celebrity brands actually work (and usually don’t), and where AI fits into consumer without turning every company into an “AI startup.” You’ll learn: ✅ Why consumer can generate power-law returns (if you invest early enough) ✅ The difference between moonshots and real venture outcomes ✅ Why most founders raise too much capital—and regret it ✅ How Bullish underwrites…

People in this episode

Host: Mike Gelb

Guest: Michael Duda

Topics covered

• consumer investing
• venture capital
• power-law returns
• founder evaluation
• AI in consumer brands
• celebrity brands
• capital raising

Keywords

• consumer brands
• venture capital
• investment strategies
• AI innovation
• founder evaluation
• celebrity involvement
• capital raising

Sponsors

Glimpse

Mentioned in this episode

Organizations: Bullish, Peloton, Warby Parker, Harry’s, Hims

Products: Glimpse

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