Sourcery America's New Consumer: CPG, Sports, Four-Wall | Jason Fiedler, Left Lane Capital
Molly O'Shea interviews Jason Fiedler, Managing Partner at Left Lane Capital, a $2B+ venture fund focused on consumer and internet businesses.
They discuss his unique investment strategies focused on consumer goods, sports, and the evolving retail landscape, diving into specific subcategories and his portfolio companies. Jason shares insights on the importance of NPS Delta, the application of software frameworks to consumer investing, his Sims City vision, pearls & strings system, and the rapid growth of his firm. He emphasizes the significance of sourcing deals through a rigorous process, keeping track of 'crazy' ideas, and the big opportunity for innovative beverage brands in a changing market.
The discussion also touches on the risks of fast growth and the future trends in consumer behavior.
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Check out Left Lane Capital: https://www.leftlane.com/
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Sponsor: Archer
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COMPANIES MENTIONED:
Investment Companies:
Left Lane Capital: https://www.leftlanecap.com/
Insight Partners: https://www.insightpartners.com/
Left Lane Capital Portfolio Companies:
Blank Street: https://www.blankstreet.com/
Kings League: https://kingsleague.pro/
Olipop: https://drinkolipop.com/
Holy (German beverage): https://drinkholyfood.com/
League One Volleyball: https://www.l1volleyball.com/
Jason's Personal Investments:
Farmer's Dog: https://www.thefarmersdog.com/
Figs: https://www.wearfigs.com/
Major Companies Referenced:
Coca-Cola: https://www.coca-cola.com/
Pepsi: https://www.pepsi.com/
Monster Energy: https://www.monsterenergy.com/
Starbucks: https://www.starbucks.com/
McDonald's: https://www.mcdonalds.com/
Driscoll's: https://www.driscolls.com/
TCBY: https://www.tcby.com/
All Birds: https://www.allbirds.com/
Liquid Death: https://liquiddeath.com/
Rao's: https://www.raos.com/
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TIMESTAMPS:
(00:00) Preview and Intro
(01:50) Inspiration from Starbucks and Investment Strategy
(04:07) Subcategories of Interest
(05:14) Applying Frameworks from Software to Consumer
(06:56) LTV to CAC and LTV to CapEx
(08:43) The Sims Framework
(10:35) NPS Delta(11:51) Growth and Current Stats
(14:50) Sponsor: Archer
(15:33) Number of Investments and Board Seats
(16:15) Sourcing Deals and Thematic Approach
(19:18) Identifying Breakout Companies
(20:41) The App Store Influence
(21:29) Risks of Rapid Growth
(23:08) Olipop Investment
(25:24) The Holy Investment and Powder-Based Beverages
(29:25) Conviction on Sports Investments
(31:51) Crazy Ideas and Future Investment Areas
(34:10) The Next Big Trends
(37:08) Outro and Next Steps
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