2PM—Founder, Web Smith

DTC Growth Show

In this episode, we talk to Web Smith, Founder at 2PM, a bootstrapped media and publishing company that puts out two long form essays and three letters every week, maintains 12 databases, and hosts the 2PM polymathic community.

Mention Web Smith, and most in the DTC community will know exactly who you're talking about. Not in 2009, though. Back then, Web found himself unemployed—with a family of three. He wasn't discouraged. A couple hours into unemployment, and he was making his next move. Hunting for opportunity in the chaos. In the decade following, he'd move to Texas, take a role at Rogue Fitness, co-found Mizzen + Main, advise at fortune companies, and invest in a handful of other top DTC brands.

And yes, he also launched 2PM.

If you've read On Optimism and Big Ideas, you know there's five important lessons he leans on to get through tough times: optimism, dynamism, calmness, opportunity seeking, and finally, deep generalism. We dive into each of those.

With the current global pandemic, calmness is a lesson that sticks out. Web encourages founders and leaders to step back, "don't throw a way a whole business model because of a couple weeks." Many brands have rushed to discount their products either because of a crisis, or to clear inventory. Luxury brands should avoid it. There's good inspiration to model after in these times, and we talk about those brands who are doing well.

Look for opportunity. Web is big on arbitrage. In 2003, Alibaba used the SARS outbreak to shift towards ecommerce. That's when they launched their peer to peer marketplace, Taobao. Web talks about the similarities to what's happening now with COVID-19.

One category that is thriving now is fitness—companies like Peleton, Tonal, and Mirror. In addition to the added focus on exercising at home, there's also a longing for community, and the competitiveness that it brings out. There are important benefits that Web calls out.

There's some advice he has for brands during this time of uncertainty. He offers his words of encouragement for founders and operators who are navigating through the turmoil.

If you want to be on top of shifts and trends in the direct to consumer space, we encourage you to visit 2pml.com and signup for the executive membership—we highly recommend it.

We also recommend that you follow 2PM and Web Smith on twitter.

To learn more about the DTC Growth Show and #paid, visit hashtagpaid.com/dtc

Thank you for listening. This is the DTC Growth show.