Tim Doyle

And so we would see less Nikes and more Hockers.

Oh, yeah.

And that has proven to be right, I think.

But obviously, if you're going to try and exploit that thesis with a portfolio, then I thought I was very clever because I could kind of run portfolio theory underneath that and kind of trade the growth of the different brands against each other as they had like different arcs of growth.

Problem is it creates a huge executional challenge.

um you've got to run multiple different brands and and like every one of those brands will have competitors and so to be honest i think we would be still doing that and and still running a portfolio and still trying to run it the way we were if juniper hadn't been such an enormous success because if it hadn't been the two problems with the way we approach the portfolio is one if there's power law distributions in the portfolio then everything gets sucked into the one and so actually the other ones don't matter which is kind of that's a problem yeah and then the second problem is

It was a portfolio with one giant correlated risk associated with it, which was the cost of digital advertising.

And so it was actually a bad portfolio construction to begin with.

And we should have, if we really committed to it, we should have probably done some like more retail focused brands.

Should have done an iced coffee brand.

Maybe, right?

Like maybe.

I think, yeah, I actually think

If we had stuck to the portfolio, we should have stuck to the portfolio rather than what we ended up doing was building one technology platform and then multiple brands through the same distribution channels on top of one portfolio, which is just correlated.

And so iced coffee and pet food and telehealth might have been the right combo.

Yeah.

Uh, well, yeah, I mentioned the sex toy brand.

One of the launch tactics we ran for the sex toy brand was, uh, a, I mean, I think we called it a dildo regret program, which was like, if you had a sex toy that you didn't like, we could, you could send it to us.

We would recycle it and we would send you a voucher for a normal, like the brand was called normal.

Uh, one of our, one of our sex toys.