0. Why The Consumer VC

Summary

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Podcast Summary: Consumer VC – Episode 0: "Why The Consumer VC"

Host: Mike Gelb
Guest Host/Interviewer: Rob (Mike’s brother, founder & CEO of HeySummit)
Release Date: October 22, 2019

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Overview: Main Theme and Purpose

This introductory episode serves as a “meta” interview, offering listeners insight into the background, purpose, and intended audience of “Consumer VC”—a podcast dedicated to early-stage consumer (B2C) investing and venture capital. To shake up the format, host Mike Gelb is interviewed by his brother Rob, flipping the usual host-guest dynamic and providing candid answers about the show’s vision, personal motivations, and approach.

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Key Discussion Points and Insights

1. Genesis of the Podcast

• Entrepreneurial Curiosity:
  • Mike reflects on his longstanding interest in entrepreneurship, including his experience founding a private label Amazon business and his subsequent curiosity about “high growth B2C businesses and venture capital.”
    • “I realized that there wasn’t a podcast devoted to early-stage consumer... I thought this would be interesting to hear from investors—how they evaluate opportunities when there aren’t a lot of data points to go on—and help founders demystify the fundraising process.” (00:56)
• Podcast Gap Identified:
  • He notes a clear gap in available content: a podcast focusing solely on early-stage consumer investing, both for founders and investors.

2. Audience: Who is the Show For?

• Target Listeners:
  • Aspiring and current B2C founders seeking guidance on fundraising and how venture capital works.
  • Individuals interested in hearing directly from venture capitalists about assessing startups and spotting consumer trends.
  • Those in the ecosystem who want to “understand how venture capital actually works,” and anyone keen on “emerging consumer tech or trends.”
    • “My intention is this podcast might be relevant to those that are interested in hearing from venture capitalists... It could also be helpful if you’re currently trying to raise a round or have an idea for a B2C business.” (01:42)

3. Host’s Background and Credibility

• Not a VC Insider:
  • Mike candidly admits he’s not a professional venture capitalist, though he has experience from his university VC fund in due diligence on high-growth companies.
    • “No, I actually don’t come from a venture capitalist background... I was involved in my university’s VC fund where we got to conduct due diligence on a few emerging high growth companies. But apart from that, no, I don’t.” (02:24)
• Breaking In:
  • Despite not having insider credentials, Mike has succeeded in securing interviews by simply reaching out to VCs.
    • “I thought I would just start out by writing to them... I’ve gotten some great responses and have actually conducted quite a few interviews.” (02:46–02:53)

4. Goals and Hopes for the Podcast

• Educational Resource:
  • The central aim is making early-stage consumer investing more approachable and helping listeners stay ahead on consumer trends.
    • “I hope this podcast serves as an educational resource for those wanting to understand early-stage consumer investing and learn about emerging consumer trends.” (03:08)
• Guest-Focused Approach:
  • Mike emphasizes his intent to limit his own airtime, letting guests’ expertise and stories lead.
    • “The focus and the priority are our guests and their insights and experiences. So definitely pay close attention to that. Not so much myself.” (03:21)

5. Current State and What’s Next

• Season Progress:
  • Mike shares he’s already recorded eight episodes with ten more interviews lined up.
    • “So I currently have eight episodes recorded and have ten more interviews lined up in the coming weeks.” (03:46)
• Staying Connected:
  • Listeners can follow the show by subscribing on their podcast app, visiting the website (theconsumervc.com), joining the email list, or reaching out by email or social media (Twitter & Instagram: @ikegelb).
    • “I would love to hear from you and make this as collaborative as possible.” (04:00)

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Notable Quotes & Memorable Moments

• On Gratitude to Listeners:
  • “You have over a million podcasts to choose from and the fact you’re even considering this one... all I can say is that I’m chuffed. I really am.” – Mike (00:07)
• On the Hot Seat Dynamic:
  • Rob: “So I’m gonna be asking you some questions here and putting you in the hot seat for once.” (00:42)
• Mike’s Self-Awareness:
  • “I’m a bit of a talker and very much a rambler. And so what I’m worried about the most on this podcast is that you’re going to be hearing way too much from me.” (03:21)
• Brotherly Banter (Ending):
  • Rob: “Cool, Mike.”
    Mike: “All right.”
    Rob: “I’m excited for episode one.”
    Mike: “Thanks, Rob. Thanks so much for doing this. I appreciate it.”
    Rob: “No problem, Mike... See ya. Call mom.” (04:51–04:56)

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Timestamps for Major Segments

• [00:00]–[00:42]: Introduction; premise of the show; Rob as interviewer.
• [00:50]–[01:31]: Why start Consumer VC? Mike’s background and market gap.
• [01:31]–[02:12]: Intended audience and use cases.
• [02:12]–[02:37]: Host's background in VC (or lack thereof).
• [02:37]–[03:08]: How Mike lines up guests; positive surprises so far.
• [03:08]–[03:41]: Podcast goals; educational mission and guest-focus.
• [03:41]–[03:54]: Status update: number of episodes recorded and upcoming interviews.
• [04:00]–[04:50]: How to follow, reach out, and stay connected.
• [04:51]–[04:56]: Outro, sibling banter (“Call mom”).

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Conclusion

Episode 0 of Consumer VC sets a welcoming tone for newcomers, clearly laying out the podcast’s mission to demystify early-stage consumer investing through candid conversations with VCs and startup founders. Mike’s humble, earnest approach—amplified by his brother’s playful interview—promises an accessible, engaging resource for B2C founders, investors, and trend-watchers alike.

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Transcript

[A]

Hello, everyone. I'm Mike and I'll be your host for this podcast, the Consumer vc, where each week I'll talk to venture capitalists that invest in early stage consumer or B2C businesses. I first want to thank you very much for even considering listening to this podcast. You have over a million podcasts to choose from and the fact that you're even considering this one, well, I mean, all I can say is that I'm chuffed. I really am. This is an interview style podcast and even though I'll be the one asking the questions for this episode, I have my brother Rob on the line to ask me questions about the podcast. To give you some context. Rob is a serial entrepreneur who is a founder and CEO of HeySummit, which helps you increase engagement conversions and revenue for your online summits. So, Rob, how are ya?

[B]

Hey, Mike. I'm good. So I'm gonna be asking you some questions here and putting you in the hot seat for once.

[A]

Yeah, yeah.

[B]

Okay, so I'm gonna start off with the first really hardball one. Why did you want to start this podcast?

[A]

You know, Rob, I've been interested in entrepreneurship for a long time and at one stage, as you know, I founded my own private label business selling products on Amazon. And when I went back to grad school, I became very interested in high growth B2C businesses that were emerging as well as venture capital. And I realized that there wasn't a podcast devoted to early stage consumer. And I thought this would be interesting to hear from investors, how they evaluate investment opportunities, what when there really aren't a lot of data points to go on and help founders demystify the fundraising process. So hopefully this podcast can be helpful.

[B]

Cool. Yeah, makes sense. So in terms of who do you think it's intended for? Can you like, tell me a bit about the audience for those listening?

[A]

Sure. So my intention is this podcast might be relevant to those that are interested hearing from venture capitalists on how they evaluate startups and, you know, look for early trends in consumer. It could also be helpful if you're currently trying to raise a round or have an idea for a B2C business and want to understand how venture capital actually works. Also, if you're interested in emerging consumer tech or trends that are happening.

[B]

So I mean, from your background, you know, you come from an entrepreneur side, you recently completed your mba. Do you actually come from the VC world?

[A]

No, I actually don't come from a venture capitalist background. I was involved my university's VC fund where we got to conduct due diligence on a few emerging high growth companies. But apart from that, no, I don't.

[B]

So without professional experience, not to be awkward, but how are you going to convince these people to talk to you?

[A]

That's a great question. You know, I thought I would just start out by writing to them.

[B]

And has it been working?

[A]

Yeah, you know, I've actually been very lucky. I've gotten some great responses and now I've conducted actually quite a few interviews with venture capitalists.

[B]

That's interesting, since your handwriting isn't that great. So what are you hoping to get out of these interviews?

[A]

Well, I hope this podcast serves as an educational resource for those wanting to understand early stage consumer investing and learn about emerging consumer trends.

[B]

So what are you worried about the most?

[A]

Well, as you know, Rob, I'm a bit of a talker and very much a rambler. And so what I'm worried about the most on this podcast is that you're going to be hearing way too much from me. The focus and the priority are our guests and their insights and experiences. So definitely pay close attention to that. Not so much myself.

[B]

And so how far are you along right now with the. With the season?

[A]

So I currently have eight episodes recorded and have 10 more interviews lined up in the coming weeks.

[B]

And so can you tell us how people can keep up to date with what's going on?

[A]

Absolutely. So you can of course subscribe to the show on whichever podcast app you are currently listening on. You can also go to theconsumervc.com, which will also have all our episodes. And on the site, you're also welcome to subscribe to our email list and send feedback if you should. So choose to subscribe. I'll be emailing you once a week with a new episode in terms of feedback and reaching out if you have a recommendation for a guest. A good question that you would love to hear our guests answer. Simply want to provide feedback on how the podcast could improve or you're currently working on a consumer startup. I would love to hear from you and make this as collaborative as possible. You can also DM me on Twitter ikegelb and Instagram ikegelb. Or if you'd prefer to straight email, you can email the ConsumerVCmail.com, whichever method of communication you would prefer.

[B]

Cool, Mike.

[A]

All right.

[B]

I'm excited for episode one.

[A]

Thanks, Rob. Thanks so much for doing this. I appreciate it. No problem, Mike.

[B]

See ya. Call mom.