VC Playbook Has Changed. Here’s What Founders Must Do ft. Ezra Galston

Glimpse is the all-in-one, AI-powered deductions management platform for CPG brands—automating deduction capture, classification, disputes, and accounting. Recover more revenue while saving time –https://www.tryglimpse.comWhat does it take to build a truly durable consumer brand in today’s volatile venture environment?In this episode, Mike sits down with Ezra Galston, Founding Partner of Starting Line, to unpack the shifting dynamics in consumer, marketplaces, and venture capital. Ezra shares why the Midwest VC ecosystem looks different from the coasts, what’s changing in consumer investing post-2021, and how founders can position themselves to raise smarter—not just bigger.Here’s what you’ll learn:✅ Why consumer investing still matters (even if VC sentiment has cooled)✅ The difference between “good” growth and “unsustainable” growth✅ How geography shapes venture outcomes (and why Chicago is unique)✅ Why Ezra believes today’s founders must optimize for efficiency over hype✅ The traps consumer founders fall into when chasing scale too early✅ What LPs really want from consumer-focused funds right now✅ How Starting Line is approaching the next generation of consumer brands✅ Why resilience and margin discipline are the new non-negotiables👉 If you’re a founder, investor, or operator navigating consumer markets in 2025, this episode is packed with insights you won’t want to miss.Timestamps00:00 Intro01:10 Why Consumer Still Matters in Venture05:00 Growth vs. Unsustainable Growth09:20 The Midwest VC Lens vs. The Coasts14:00 Lessons from Building Starting Line18:30 Why Scale Too Early Destroys Consumer Startups23:00 LP Expectations in a Reset Market27:00 Ezra’s View on the Future of Consumer Brands32:00 Optimizing for Efficiency in Fundraising38:00 Why Margins Are the New Moat42:00 Advice for Founders Raising in 202547:00 Ezra’s Recommended Books & Resources📬 Subscribe for more founder stories & venture insights:👉 The Consumer VC Newsletter - https://www.theconsumervc.com/Follow Mike Gelb: Twitter / IG / TikTok → @mikegelb / @consumervc

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