Web Smith: The Direct-to-Consumer Space on North Star Podcast
Here from Web Smith, Founder of 2PM Newsletter on Northstar Podcast hosted by David Perell.
Listen to the whole episode here:
Check out David Perell's notes:
Web Smith is the Founder of 2PM and focuses on investing/advising digitally vertical native brands. Prior to this, he spent most of his time at the crux of digital media and eCommerce. Most recently working for Uncrate and then Gear Patrol (Hearst Magazines). He co-founded Mizzen+Main in 2012.
- Lots of advertising is about creating a common knowledge.
- People like to make statements with their purchases. People wear Yeezys to get a reaction.
- The biggest successes we see have to do with community building. Look at crossfit.
- Writing is hard. If you stop doing it you're hurting yourself.
On Organic Ads
- Requires capital, resources, and people.
- Switching from paid acquisition to a content company requires starting from the beginning.
- People who dont work for the company represent the bulk of the experience
- AirBnB = the quality of the host, Uber = the quality of the driver.
On Middle America and Death of Middle Class Retail
- America is polarizing
- Retail is adjusting to meet demand of rich getting richer, poor getting poorer.
- Middle class retail is dying
- Middle class retail needs to make the decision to go upmarket or downmarket FAST. — Look at Walmart going up market with the acquisition of JET.
- The most important part about Supreme and their brand is the line standing outside.
- Many folks get lost in what the resell values are vs how they built what they have.
- Great brands exclude people
- Early brands want to find what that is for their brand in order to sustain growth.
- Growing up with a chip on your shoulder is not always the best
- Getting a lot done and being mad at the world isnt ideal.
- If you can get a lot done and not be mad at the world, thats better.