The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

468. When Product-Market-Fit Isn’t Enough: The Hidden Forces Behind Brand Loyalty, Gravity, and Increasing Consumer Spend (Shamin Walsh)

Feb 3, 2025

Shamin Walsh, Managing Director at BAM Ventures, brings a wealth of experience as an attorney and early-stage investor. In their conversation, Walsh delves into the nuances of consumer brand loyalty beyond product-market fit, discussing investment metrics and shifting consumer spending behaviors. They highlight the struggle of mid-market apparel brands, the challenges of engaging consumers in tech, and the critical traits for founders in today’s market. Insights on navigating consumer packaged goods investments and the importance of cultural dynamics round out this engaging discussion.

44:56

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Episode guests

Shamin Walsh

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Episode notes

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Quick takeaways

The podcast highlights the importance of strong brand identity and emotional connection in fostering consumer loyalty and engagement.

It discusses the bifurcation in consumer spending, emphasizing the challenges mid-tier brands face as consumers gravitate towards essentials and luxury goods.

Deep dives

Shamim Walls' Journey to Venture Capital

Shamim Walls shares her unconventional path to venture capital, originally starting as an attorney and transitioning into investments. Her first significant investment was in Sweetgreen, a relationship that propelled her career as she witnessed the company evolve from inception to IPO. This experience connected her with various founders and led her to build a portfolio as an angel investor. Shamim ultimately joined BAM Ventures in 2017, merging her legal and investment expertise while focusing on early-stage consumer brands.

Intro

2min

Navigating Early-Stage Consumer Investments

6min

The Struggle of Mid-Market Apparel Brands

2min

Navigating Consumer Engagement in Tech

19min

Navigating Consumer Investment Strategies in Venture Capital

3min

Navigating Investments in Consumer Packaged Goods

3min

Navigating Challenges: Insights for Founders

12min

Shamin Walsh of BAM Ventures joins Nick to discuss When Product-Market-Fit Isn’t Enough: The Hidden Forces Behind Brand Loyalty, Gravity, and Increasing Consumer Spend. In this episode we cover:

Investment Metrics and Market Dynamics
Consumer Spend Bifurcation and Market Trends
Consumer Tech and Signal Identification
Thesis-Driven vs. Founder-Driven Investing
Brand Market Fit and Loyalty
Cross-Cultural Insights and Market Adaptation
Making Money in Consumer Investing
Founder Traits and Market Conditions

Guest Links:

The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

Want to keep up to date with The Full Ratchet? Follow us on social.

You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Are you a founder looking for your next investor? Visit our free tool VC-Rank and we’ll send a list of potential investors right to your inbox!

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