A speaker from Precursor Ventures observes that several consumer-focused companies in their portfolio (consumer software and CPG) are among the best performers. They argue these companies often assume no guaranteed access to capital, which forces them to build businesses that can be profitable while still growing—creating a discipline that contributes to outperformance.
Mm. And I look in our portfolio, I look at some of our consumer, both consumer software and CPG companies. They're some of the best performing companies in our portfolio. And I think the irony is, for many of those companies, access to capital is not assumed. So you have to build a business that, if need be, can be profitable and still grow. And I think it enforces a unique discipline on those companies to both build real businesses, but not real businesses that are small, real businesses that end up being interesting. And so I'm not surprised that those companies outperform. They have it tougher.
