Don’t Raise VC Money Until You Hear This | Mike Gelb with Shamin Walsh | Consumer VC

This episode is brought to you by Highbeam.


Highbeam is the all-in-one banking and cash management platform built for consumer brands – https://www.highbeam.co/capital?partn… 


Join host Mike Gelb as he chats with Shamin Walsh, Managing Director at BAM Ventures — the early-stage VC firm behind Thrive Market, Honey, and Cotopaxi.


Shamin breaks down how BAM spots winning startups early, why fund size shapes strategy, and what it really takes to build sticky consumer brands — without chasing unicorn hype.


From AI buzz to price discipline and founder fit, this episode is packed with practical insights for anyone building or backing a consumer company.


🕒 Timestamps
00:00 What Makes AI Actually Valuable
01:22 Intro – Who is Shamin Walsh & BAM Ventures?
03:44 Why She Joined BAM & What Makes the Firm Different
07:00 Is Consumer Still Sexy? (Hint: Yes, If You Do It Right)
10:07 Power Law Returns in CPG & Brand Exits
13:21 Why Fund Size Dictates Strategy
16:10 Balancing Brand, Commerce Infra & Consumer Tech
17:30 What BAM Looks for in Founders
20:15 Case Study: How Thrive Market Nailed Consumer Behavior
23:15 The Danger of False Signals in Consumer Startups
26:00 How BAM Thinks About Reserves & Follow-Ons
28:20 Staying Price Disciplined (Even in the 2021 Hype Cycle)
30:00 Why Founders Pick BAM Over Bigger Funds
32:00 Capital Efficiency ≠ Always Bootstrapping
35:09 Fundraising Strategy & How to Navigate Future Rounds
37:00 What Early Traction Signals Actually Matter
39:10 How BAM Measures Stickiness vs. Trendiness
44:00 Could a New Social Platform Still Win?
46:00 BAM’s View on AI: Not a Strategy, Just a Tool
48:00 ⚡ Rapid Fire Round: Trends, Products, Books
52:00 Why “The Little Prince” Still Inspires Shamin
📬 Subscribe to The Consumer VC newsletter for startup trends:
https://www.theconsumervc.com/ 
🎧 Listen on:
Spotify → https://open.spotify.com/show/4Hjm74Z… 
Apple Podcasts → https://podcasts.apple.com/gb/podcast… 
Youtube →https://www.youtube.com/@consumervc


Follow Mike:
Twitter / Instagram / TikTok → @mikegelb / @consumervc