Kirsten Green – Investing in Consumer Change – [Invest Like the Best, EP.301]

Kirsten Green – Investing in Consumer Change – [Invest Like the Best, EP.301]

My guest today is Kirsten Green, founder and managing partner at Forerunner Ventures. Kirsten launched Forerunner in 2012 and has built it into a leading consumer-focused venture firm with early investments in consumer brands like Dollar Shave Club, Bonobos, Faire, and Warby Parker. Our conversation is an exploration of consumer behavior and how to invest behind change in our society. We also discuss frameworks for identifying brands early, how to build deal flow, and the shift in power between buyers and sellers. Please enjoy my conversation with Kirsten Green.

 

For the full show notes, transcript, and links to mentioned content, check out the episode page here.

 

—–

 

This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you’re a professional equity investor and haven’t talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at canalyst.com

 

—–

 

Today’s episode is brought to you by Brex. Brex is the integrated financial platform trusted by the world’s most innovative entrepreneurs and fastest-growing companies. With Brex, you can move money fast for instant impact with high-limit corporate cards, payments, venture debt, and spend management software all in one place. Ready to accelerate your business? Learn more at brex.com/best.

 

—–

 

Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes

 

Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.

 

Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.

 

Follow us on Twitter: @patrick_oshag | @JoinColossus

 

Show Notes

[00:02:35] – [First question] – The insights gleaned from studying consumers in the modern era

[00:07:02] – Whether or not the shift in consumer behavior is similar to a platform shift like mobile

[00:09:58] – Which of her hypothesis going into the research was proven most wrong

[00:11:31] – The leading persona archetype that drives consumer spending 

[00:13:58] – Thoughts about her investing focus after doing all of this research 

[00:16:23] – How much the digital world is good and bad for community

[00:18:50] – Positive and negative impacts digital access has on children

[00:21:17] – The investing criteria that she and her firm have developed for founders and business models they find desirable 

[00:29:20] – An example of the middle of the spectrum between tailwinds and headwinds that may result in them passing on a business

[00:32:00] – The beachhead problem for entry points, encouraging good focus and entry point selection, and who’s done it well 

[00:35:33] – The history of the consumer of how they buy and sell and where the shifts in power have been 

[00:39:47] – Other interesting trends she’s seeing in the seller empowerment era

[00:43:35] – How different her investing models are for linear product businesses

[00:46:45] – Frameworks she’s developed for evaluating a brand early on 

[00:49:57] – The most defining moment in Forerunner’s history and the hardest lesson she’s had to learn 

[00:53:13] – Ways she’s fostered and mentored young investors at Forerunner 

[00:54:04] – What the most underappreciated thing is today about the consumer

[00:54:50] – User and customer development strategies that work well for early stage products

[00:56:26] – Three businesses young investors should study to educate themselves on great consumer businesses; Shoe Dog

[00:59:49] – Where they find the companies Forerunner tends to invest in, and how to build and effective deal flow pipeline 

[01:05:07] – The kindest thing anyone has ever done for her

Show More

Backward
Play
Forward
1x speed
  • 0.5
  • 1
  • 1.5
  • 2
Other episodes
Carl Kawaja – Dealing with Regime Change – [Invest Like the Best, EP.314]

Carl Kawaja – Dealing with Regime Change – [Invest Like the Best, EP.314]

My guest this week is Carl Kawaja. It’s the second time I’ve had Carl on the show and my first conversation with him is one I go back to often. Carl is a portfolio manager at Capital Group, where he’s quietly overseen a huge portfolio for...

52 downloads Invest Like the Best Jan 31, 2023
1h 12m
Daryl Morey – Systems Thinking in Sports – [Invest Like the Best, EP.313]

Daryl Morey – Systems Thinking in Sports – [Invest Like the Best, EP.313]

My guest this week is , who is President of basketball operations for the Philadelphia 76ers. Daryl is a computer science graduate but has become one of the NBA’s most successful General Managers during his time with the Houston Rockets and the...

71 downloads Invest Like the Best Jan 24, 2023
1h 3m
Miles Grimshaw – The DNA of Software Companies – [Invest Like the Best, EP.312]

Miles Grimshaw – The DNA of Software Companies – [Invest Like the Best, EP.312]

My guest today is . Miles is in his early thirties and is a General Partner at Benchmark. His experience and success belie his age. He was an early investor in Segment, Benchling, and Airtable, all before they had 30 employees. I have learned a ton...

135 downloads Invest Like the Best Jan 17, 2023
1h 10m
John Fio – Creating Magic for Consumers – [Invest Like the Best, EP.311]

John Fio – Creating Magic for Consumers – [Invest Like the Best, EP.311]

My guest today is . John is a product inventor and entrepreneur who, in the space of a few years, has bootstrapped four products; Gravity Blanket, Moon Pod, Moon Pals, and Birthdate Candles which have collectively sold hundreds of millions of dollars...

115 downloads Invest Like the Best Jan 10, 2023
1h 21m
Amjad Masad – The Future of Software Creation – [Invest Like the Best, EP.310]

Amjad Masad – The Future of Software Creation – [Invest Like the Best, EP.310]

My guest today is . Amjad is the founder and CEO of Replit, whose mission is to bring the next billion software creators online. Replit has built a browser-based coding environment that makes coding more fun, collaborative, and approachable. We...

158 downloads Invest Like the Best Jan 03, 2023
1h
Rebecca Lynn – Finding Your Customers – [Invest Like the Best, EP.309]

Rebecca Lynn – Finding Your Customers – [Invest Like the Best, EP.309]

My guest this week is . Rebecca co-founded early-stage investor Canvas Ventures in 2013 and is regularly featured as one of the best VCs in the market. She has deep positioning and go-to-market experience, which she honed during her time at Procter...

164 downloads Invest Like the Best Dec 27, 2022
51m
Michael Mauboussin – Sharpening Investor & Executive Toolkits – [Invest Like the Best, EP.308]

Michael Mauboussin – Sharpening Investor & Executive Toolkits – [Invest Like the Best, EP.308]

My guest this week is . Many of you will know Michael and his work well. He’s Head of Consilient Research at Counterpoint Global, one of the sharpest investment minds I know, and a frequent guest on this show. In this discussion, we go deep into his...

168 downloads Invest Like the Best Dec 20, 2022
1h 6m
Jeremiah Lowin: Explaining the New AI Paradigm – [Invest Like the Best, EP.307]

Jeremiah Lowin: Explaining the New AI Paradigm – [Invest Like the Best, EP.307]

My guest this week is . Jeremiah has been on the podcast a number of times over the years. He’s one of my oldest friends who has been a sounding board for me throughout my career. Today he is the founder and CEO of Prefect, which helps companies...

140 downloads Invest Like the Best Dec 13, 2022
1h
Bill Lenehan: Investing in Commercial Real Estate – [Invest Like the Best, EP.306]

Bill Lenehan: Investing in Commercial Real Estate – [Invest Like the Best, EP.306]

My guest today is Bill Lenehan. Bill is the CEO of Four Corners Property Trust, a listed REIT and one of the leading owners of restaurant real estate in the US. Their portfolio is made up of 982 properties across 47 states. Real estate is something...

168 downloads Invest Like the Best Dec 06, 2022
1h 16m
Suggested Stories

Who would have guessed laws required companies to request...

DisinterestedSep 25, 2022
0 mins read

The question of whether abortion should be legal has been...

DanielJun 26, 2022
4 mins read

Four-time major winner Brooks Koepka has also left the PG...

sportislife15Jun 26, 2022
0 mins read

The subsidisation of unreliable “renewable” power is why ...

DisinterestedJun 19, 2022
0 mins read

LIV Golf is off to a good start, whatever the PGA Tour an...

sportislife15Jun 11, 2022
4 mins read

All governments eventually lose power, but the Liberal Pa...

DanielMay 29, 2022
4 mins read