Chord Commerce CEO on Pivoting to Data

When he and I last spoke, in 2021, Bryan Mahoney had co-founded Chord, an ecommerce platform that separated the public frontend from the nuts-and-bolts backend. It was a “headless” structure that enabled merchants to connect with their preferred external providers rather than a one-size-fits-all solution.

The problem, Bryan says in retrospect, was a complicated setup that required replatforming. What merchants wanted instead was the platform’s component that consolidated data from the external providers, providing a holistic view across channels, customers, and more.

So he pivoted. In 2023 Chord became an ecommerce-focused data management company, no longer requiring customers to use its frontend layer.

In our recent conversation, Bryan shared the transition details and the importance of data for today’s brands. Our full audio is embedded below. The transcript is edited for clarity and length.

Eric Bandholz: Tell our listeners what you do.

Bryan Mahoney: I’m the co-founder and CEO of Chord Commerce. We help brands leverage their first-party data and digital channels to grow their businesses.

I co-launched the company in 2021. Before that I was chief operating officer at Glossier, the cosmetics brand.

We launched Chord as a “headless” ecommerce platform, one that separated the frontend presentation layer from the backend management tools. The problem was that it required merchants to maintain a lot of infrastructure. It proved to be too complicated. So we pivoted the company to what it is now, more of a data platform.

Bandholz: Why pivot the company rather than close it?

Mahoney: I’m addicted to commerce. I’m addicted to brand. The saving grace for Chord was that we were never only a headless commerce company. We knew early on that a headless platform would create a mountain of data issues from merchants connecting to multiple external solutions. Data would live on each of those platforms.

So we were a headless commerce and a data platform at the same time. But the companies that we met with kept pointing to the data component and asked if they could use it. We initially said they had to fully replatform, which was crazy.

I got tired of hearing no. And so, around 2023, we shifted from being dogmatic about headless to being platform-agnostic. Our customers no longer had to use our frontend. Shopify, Magento, whatever your public-facing provider, we can help solve the data problems.

And that really opened up the opportunity for us to work with more brands. Their data lived in different places. We got lucky because that’s when genAI systems burst onto the scene. It’s more important than ever to have your data in one place and accessible. Our market penetration has accelerated.

Bandholz: How does consolidated data benefit ecommerce companies?

Mahoney: You need a single source of truth to achieve your goals, such as a successful customer-acquisition campaign or a product launch.

You might use Google Analytics, Shopify, and Klaviyo. Perhaps you use Recharge for your subscriptions. Data on each of those providers could impact your acquisition messaging or your new product features. You need a holistic view of all of them to make informed decisions.

Bandholz: How do you standardize that data, once consolidated?

Mahoney: We’ve been working on it for years. Ours is purpose-built for commerce, an important distinction. There’s an awful lot of very good general-purpose data warehouses that are not opinionated about commerce. They don’t understand an ecommerce business the way that we do.

Bandholz: We’re launching a product at Beardbrand this month. We discussed in our team meeting this morning the best day to roll it out. Should we launch it after Memorial Day or before? A weekday or a weekend? Chord could have helped us, rather than relying on gut feel.

Mahoney: Yes, the key is to be data-informed. In your case, what happened in May in previous years? Is it a trend, or was there something else going on in the world at that time that may have affected the outcome? How have customer acquisition costs trended over the last month?

You can ask all these questions, but ultimately you’ve got to make the decision.

You can probe the data, which may be inconclusive, and decide to launch on Thursday. You then put your resources around that decision and remember the questions. A year from now or five months from now, when you launch another product, you can bring up that process.

I don’t ever want to propose a platform that removes the gut instinct of operators who know their brand, products, and customers better than we ever will.

But yes, we can provide the data to be better informed.

Bandholz: Are you pulling in data from similar companies to enable comparisons, such as repeat order rate versus an industry average?

Mahoney: Yes, we’re absolutely pulling in that information. We’ve been accumulating it for five years. Our customers can opt in to our own anonymized data co-op. We accumulate that data and provide benchmarks and industry standards.

But we never share personal information, and all of our tenants are completely isolated.

Bandholz: You don’t publish prices on your site, which tells me they may be higher than my company would pay. What sort of business will get the most from Chord?

Mahoney: We don’t have a pricing page up yet, though we do want our rates to be transparent. We charge a platform access fee to use our data connectors, the unification layer, and our core AI. It normally starts around $2,000 a month.

Our ideal customer is a company selling products online, D2C or retail, likely across multiple channels. The company wants its data in one place and to harness it via AI to drive growth. That can range from businesses with $10 million in annual GMV to those with $1 billion or more.

 Our customers get an awful lot of infrastructure. It’s a great value for the money.

Bandholz: Where can people check out Chord and reach out?

Mahoney: Chord.co. I am on LinkedIn, and I host a podcast called “Brilliant Commerce.”

Inside Beardbrand’s Expansion Plan

We’ve hit a plateau at Beardbrand, the direct-to-consumer business I launched 15 years ago. Our revenue is down from its peak. We’ve made mistakes. The beard care space has dried up.

We’ve moved from a blue ocean of growth and opportunity to a red one of fierce competition. If Beardbrand grows, a competitor loses, and vice versa.

In this episode, I’ll depart from my typical interview format and share our plans for moving Beardbrand forward. My goal is to help other merchants in similar circumstances.

My entire audio narrative is embedded below. The transcript is edited for clarity and length.

Growth Tactics

Our name, Beardbrand, might be a problem in a marketplace that isn’t growing. Yet we offer non-beard products, such as colognes, deodorant, and bar soap. We have a shampoo and conditioner, which we call a wash and a softener. We have hair styling products.

So we are a men’s grooming company, much more than beard care.

Focus. We’ve done a lot of belt-tightening. We’re focusing on what works and what doesn’t. That’s why we’re leaning into Meta, our top customer acquisition channel. Meta is not a consistent home run, as ad performance is volatile and increasingly expensive.

Still, within Meta there are opportunities. We can introduce more of our product categories and continue what we’ve been doing, only better.

We’re evaluating partnerships with Meta content creators to reach new audiences. I hope to increase our Meta ad spend by three times.

Social media. We’ve historically done well with organic social media, yet we’re struggling with it now. Engaging other content creators, notably on YouTube and TikTok, will likely be far more effective. Plus, we hope to learn from those creators and implement their ideas into our ad strategy.

For several weeks, we’ve sent samples to many TikTok creators through the platform’s affiliate network, paying commissions when due. It’s the early days, yet we’re already seeing success, which we hope will snowball.

YouTube’s affiliate program is less robust, though we’re much more experienced on YouTube than TikTok.

We have a great collaboration with Jeremy Siers. He’s a content creator focused on male-oriented brands and products, such as guns, knives, barbecue, and whiskey. And he has a great beard.

Product development. We’re focusing on products that are doing well now rather than launching new ones. Yet we still see new product opportunities.

One of those is a beard trimmer, a high-end, premium, $300 pass-this-on-to-your-grandkids kind of trimmer with a timeless style. The Apple of beard trimmers.

We’ve not produced mechanical products. A trimmer could cost upwards of $100,000 to develop and launch, not including marketing costs. Is there really a market for a $300 ultra-premium heirloom beard trimmer? Maybe.

But at this point, we need to move past our struggles and focus on small, incremental wins.

Packaging. Here’s a mistake. We altered our packaging and manufacturing to satisfy Target before it committed to us. We now have a lot of 4-ounce aluminum containers, up from our traditional 1-ounce version, to occupy more Target shelf space. Plus we cut three popular fragrances.

Then Target dropped us.

We’re going to stay with the aluminum packaging, as it stands out in the marketplace. But the cost of aluminum is rising, mostly due to tariffs. An aluminum bottle costs four times as much as glass.

We still offer the traditional glass-and-plastic option as our value option on Amazon.

Cross-border selling. We launched on OpenBorder a few weeks ago. It will help us get products into European countries with fewer regulatory requirements than if we did it ourselves. The growth will likely be incremental, perhaps another 10% to 20% of revenue.

It could lead to our own Europe-based warehouse, but we’re a long way from that. Nonetheless, OpenBorder enable us to reach new consumers.

Amazon is super tough, super competitive. Fees are going up. Success is getting harder, but we’re not giving up. We’re going to lean into higher-priced ads to acquire more customers.

We’ve been on Amazon for roughly three years. As long as it makes money, we’ll keep doing it. But, looking forward, a business where we trip over a dime to pick up a penny is not for me.

What We’re Avoiding

Barbershops. We have a barbershop here in Austin, Texas, that offers customers phenomenal experiences. Yet I have no desire to expand. It would be cool to have 50 barbershops across major metropolitan areas. It would also be capital-intensive.

Wholesale. We work with retailers (especially brick-and-mortar) that want to sell our products. Mostly it’s pharmacies, barber shops, and salons.

Would I consider returning to Target or adding Walmart if they approached us? Potentially. But it would take a lot of work to ramp up for a mass retailer. We’ll stick with the smaller independents for now.

Google Search ads. We’ve not advertised on Google Search for two years now. We don’t miss it.

YouTube advertising. There’s potential with YouTube ads. We had success with advertising there years ago. But for now we’re going to optimize our organic content to engage and convert prospects.

I’m a bit burned out on YouTube after posting videos there for 15 years. I’ve said everything I want to say. Perhaps we can work with other creators, such as Isaac Medeiros with Mini Katana. He could handle the strategy and editing. We would produce the raw content.

Reach Out

See what we’re up to at Beardbrand.com. There’s a great  D2C community on X. My channel there is @bandholz. Reach out with ideas, successes, failures. We’ll grow together.

Surviving D2C’s Boom and Bust

Chris Wichert is an investment banker turned direct-to-consumer entrepreneur.

His luxury shoe brand, Koio, launched in 2015 and quickly scaled. Then the pandemic hit. By late 2022, he says, the D2C hype and funding had collapsed.

He slashed costs, stabilized cash flow, and successfully exited the company. In our recent conversation, he shared his story of boom, bust, and survival.

Our entire audio is embedded below. The transcript is edited for clarity and length.

Eric Bandholz: Give us the rundown.

Chris Wichert: I co-founded Koio, a luxury footwear brand, in 2015. We exited the brand six months ago, and I helped with the transition. I’m now advising other consumer brands on how to reach profitability and stay there.

I’m from Germany. I started my career in investment banking, then moved to the U.S. for my Wharton MBA, where I met my Koio co-founder.

I live in Brooklyn, New York.

Bandholz: Did Wharton help with the launch?

Wichert: Not directly, but the Wharton School connections were conversation starters for raising money. We moved to New York after graduating.

Our first financing round, about $1.5 million, came 12 months after our launch. The money got us started, but it also set us up for the wrong path. Building a luxury D2C brand with a high average order value requires patience. You have to keep investing to eventually see the compounding effect after five, six, seven years.

We ended up raising close to $20 million over a decade. It was a mix of venture capitalists, family offices like the Winklevosses, and other D2C entrepreneurs.

We used the money initially to fund inventory and build our team. Our first hire was for operations. Our second was for marketing.

We learned quickly that selling a $300 shoe requires a strong brand and credibility. It takes a lot of investment in media outreach, pop-up stores, and retail. Our sales increased when people saw our shoes in person, tried them on, and felt the leather. So we went into retail and digital early on as a dual strategy.

We experienced great growth for the first five years. Our biggest raise, $10 million, came in 2019. But the pandemic wiped out our retail business. We had five stores at the time. Plus, our use case was gone. Our shoes were dress sneakers for dates and nice occasions.

By late 2022, early 2023, the D2C hype and funding had collapsed. Valuations plummeted.

That forced us to make big changes. We were losing roughly $3 million per year with no growth. The company was way too complex and costly. Our SKUs had expanded from men’s dress sneakers into boots, loafers, and slip-ons, for men and women.

We interviewed around 100 customers. We learned that the product expansion was detrimental to the brand. Our messaging was unclear.

We went back to the core items. Then we cut 70% of our New York team, which was painful. We closed the office and transitioned to remote only. We also closed unprofitable dropship accounts and stores. Then we rehired certain remote roles internationally.

Over the ensuing 12-18 months, we reached break-even profitability.

By then, neither my co-founder nor I wanted to keep running the business. We had an obligation to our investors and remaining employees to end the company in the best possible way.

So, I reached out to many people in D2C, especially footwear and apparel brands, to explore an exit or merger. That process was cumbersome.

It took almost two years, but we got a competitive process underway and spoke with several interested parties. We found a trustworthy acquirer who owns several brands and closed the deal with him in August of last year.

The transition lasted just six months. My co-founder and I remain shareholders. We believe in the company and wanted to ensure operational and brand consistency.

We also wanted to integrate our employees into the workflow.

Bandholz: You’ve pivoted to an advisory role.

Wichert: I’ve built a great network of consumer-brand entrepreneurs over the years. I love the industry and want to share my knowledge and experience.

I’m now working with founders across different consumer categories, such as skincare, footwear, eyewear, watches, you name it.

Bandholz: How can people reach out?

Wichert: Learn more about our shoe company at Koio.co. I’m on LinkedIn and X.

Cyberscammers are bypassing banks’ security with illicit tools sold on Telegram

<div data-chronoton-summary="

  • A growing black market: Scammers are buying tools advertised on Telegram that trick banks’ facial recognition checks, letting them access accounts using photos, deepfakes, or virtual cameras instead of live video.
  • The stakes are enormous: Crypto scams stole an estimated $17 billion in 2025 alone, and virtual-camera attacks were 25 times more common in 2024 than the year before.
  • Banks are aware, but holes remain: Major institutions like Binance, BBVA, and Revolut acknowledge the problem but won’t confirm its scale. Experts warn that the most successful attacks may never be detected at all.
  • Regulators are scrambling to keep up: New laws in Thailand and warnings from US financial regulators signal growing pressure on the industry, but researchers say determined scammers will keep adapting.

” data-chronoton-post-id=”1135898″ data-chronoton-expand-collapse=”1″ data-chronoton-analytics-enabled=”1″>

From inside a money-laundering center in Cambodia, an employee opens a popular Vietnamese banking app on his phone. The app asks him to upload a photo associated with the account, so he clicks on a picture of a 30-something Asian man.

Next, the app requests to open the camera for a video “liveness” check. The scammer holds up a static image of a woman bearing no resemblance to the man who owns the account. After a 90-second wait—as the app tells him to readjust the face inside the frame—he’s in. 

The exploit he’s demonstrating, in a video shared with me by a cyberscam researcher named Hieu Minh Ngo, is possible thanks to one of a growing range of illicit hacking services, readily available for purchase on Telegram, that are designed to break “Know Your Customer” (KYC) facial scans.

These banking and crypto safeguards are supposed to confirm that an account belongs to a real person, and that the user’s face matches the identity documents that were provided to open the account. But scammers are bypassing them in order to open mule accounts and launder money. Rather than using a live phone camera feed for a liveness check, the hacks typically deploy a tool known as a virtual camera. Users can replace the video stream with other videos or photos—depicting a real or deepfake person or even an object.

As financial institutions enact enhanced security measures aimed at stopping cyberscammers, these workarounds are the latest round in the cat-and-mouse game between criminal operators and the financial services industry.

Over the course of a two-month investigation earlier this year, MIT Technology Review identified 22 Chinese-, Vietnamese-, and English-language public Telegram channels and groups advertising bypass kits and stolen biometric data. The software kits use a variety of methods to compromise phone operating systems and banking applications, claiming to enable users to get around the compliance checks imposed by financial institutions ranging from major crypto exchanges such as Binance to name-brand banks like Spain’s BBVA. 

“Specializing in bank services—handling dirty money,” reads the since-deleted Telegram bio of the program used by the Cambodian launderer, complete with a thumbs-up emoji. “Secure. Professional. High quality.” Some of the channels and groups had thousands of subscribers or members, and many posted bullet points listing their services (“All kinds of KYC verification services”; “It’s all smooth and seamless”) alongside videos purporting to show successful hacks. 

Telegram says that after reviewing the accounts, it removed them for violating its terms of service. But such online marketplaces proliferate easily, and multiple channels and groups advertising similar tools remain active.

Banks and butchers

The rise in KYC bypasses has occurred alongside an expansion of a global industry in “pig-butchering” cyberscams. Crypto platforms and banks around the world are facing increasing scrutiny over the flow of illegally obtained money, including profits from such scams, through their platforms. This has prompted tightened banking regulations in countries such as Vietnam and Thailand, where governments have increased customer verification and fraud monitoring requirements and are pushing for stronger anti-money-laundering safeguards in the crypto industry.

Chainalysis, a US blockchain analysis firm, estimates that around $17 billion was stolen in 2025 in crypto scams and fraud, up from $13 billion in 2024. The United Nations Office on Drugs and Crime, meanwhile, warned in a recent report that the expansion of Asian scam syndicates in Africa and the Pacific has helped the industry “dramatically scale up profits.”

That combination of factors—more scrutiny, but also more revenue—has vaulted KYC bypasses to the center of the online marketplace for cyberscam and casino money launderers. Although estimates vary, cybersecurity researchers say these kinds of attacks are rising: The biometrics verification company iProov estimated that virtual-camera attacks were more than 25 times as common worldwide 2024 than in 2023, while Sumsub, a company providing KYC services, reported that “sophisticated” or multi-step fraud attempts, including virtual-camera bypasses, almost tripled last year among its clients. 

Three financial institutions that were named as targets on such Telegram channels—the world’s largest crypto exchange, Binance, as well as BBVA and UK-based Revolut—told me they’re aware of such bypasses and emphasize that they’re an industry-wide challenge. A spokesperson from Binance said it has “observed attempts of this nature to circumvent our controls,” adding that “we have successfully prevented such attacks and remain confident in our systems.”  BBVA and Revolut also declined to comment on whether their safeguards had been breached.

It’s difficult to estimate success rates, because companies may not be aware of bypasses—or report them—until later. “What’s important is what we don’t see,” Artem Popov, Sumsub’s head of fraud prevention products, told me, referring to attacks that go undetected. “There’s always part of the story where it might be completely hidden from our eyes, and from the eyes of any company in the industry, using any type of KYC provider.”

How criminals navigate a compliance maze 

Advertisements for the exploits appear simple enough, but on the back end, building a successful bypass is complex and often involves multiple methods. Some channels offer to jailbreak a physical phone so that scammers can trigger the use of a virtual camera (VCam) instead of the built-in one whenever they’d like. Other hacks inject code known as a “hooking framework” into a financial institution’s app that triggers the VCam to open. Either way, VCams can be used to dupe KYC safeguards with images or videos that replace genuine, live video of the account’s owner.

Sergiy Yakymchuk, CEO of Talsec, a cybersecurity company that primarily serves financial institutions, reviewed details from the Telegram channels identified by MIT Technology Review and says they are consistent with successful tactics used against his banking and crypto clients. His team received help requests from banks and exchanges for roughly 30 VCam-based hacks over the past year, up from fewer than 10 in 2023. 

Increasingly, hackers compromise both the phone itself and the code of the financial institutions’ apps before feeding the virtual camera a mix of stolen biometrics and deepfakes, Yakymchuk says.

“Some time ago, it was enough to decompile the app of a bank and distribute this on Telegram, and that was everything you needed,” he says. “Now it’s not enough, because you have KYC—and more and more things are needed.”

For money launderers, KYC bypasses have “become essential for everything right now—because scam compounds need to move money,” says Ngo, the researcher who shared the demo video. A convicted former hacker who became a cybersecurity advisor for the Vietnamese government, Ngo now runs an anti-scam nonprofit and helps law enforcement investigate money laundering. 

He describes how the process works in the case of pig-butchering scams: Funds originating with victims are received into bank accounts controlled or rented by a money-laundering network, known colloquially as “water houses.” Money launderers use KYC bypasses to access the accounts and quickly redistribute the profits before converting them into digital assets—typically in the form of the stablecoin Tether, a type of cryptocurrency that is pegged to the US dollar.

These transactions often happen in seconds, under tightly orchestrated management. “They know, very clearly, the flow of how the banks verify or authenticate accounts,” Ngo says. 

A cat-and-mouse game 

The growth of cyberscam money laundering has led to heightened scrutiny of financial institutions. In 2023, Binance pleaded guilty in US federal courts to operating without anti-money-laundering safeguards. Donald Trump pardoned former Binance CEO Chaopeng Zhao last October.

Recent analysis from the International Consortium of Investigative Journalists found that after Zhao’s guilty plea, more than $400 million continued to move to Binance from Huione Group, a Cambodia-based firm that the US sanctioned after the Treasury Department deemed it a “critical node” for money laundering in pig-butchering scams.

Binance says it has “state-of-the-art security systems” that prevented billions in fraud losses and that the company processed more than 71,000 law enforcement requests in 2025.

But John Griffin, a finance and blockchain expert at the University of Texas at Austin, does not think the exchanges are sufficiently secure. “Even though they have all this press about ‘Oh, yes, we’ve changed this and that’—well, the proof is in the pudding. The criminals are still using your exchange,” Griffin told me of the industry at large. “So there must be holes.” (Binance says it “objects to the dubious findings” of Griffin’s work tracking the flow of criminal profits across exchanges like Binance, Huobi, OKX, and Tokenlon, calling it “misleading at best and, at worst, wildly inaccurate.”)

Binance also pointed out that some purported bypass services are themselves scams, casting doubt on whether successful bypasses are as widespread as the Telegram marketplace may suggest. Engaging with such services “exposes individuals to significant security risks,” a spokesperson said. “Even where access appears to be granted, accounts are often already restricted by internal detection and compliance controls, rendering them nonfunctional for trading or withdrawals.”

Regulators around the world are trying to catch up. In Thailand, where citizens’ bank accounts regularly serve as money mules for cyberscams based in neighboring Myanmar and Cambodia, new legislation has enhanced KYC monitoring, limited daily transactions, and strengthened oversight bodies’ ability to suspend accounts. The US money-laundering regulator, the Financial Crimes Enforcement Network, issued a warning against KYC deepfakes and the use of VCams in late 2024, encouraging platforms to track broader transaction patterns to identify money laundering.

For scammers, any new security or reporting requirements will make bypasses harder, but “it’s not going to stop them,” Ngo says. “It’s just a matter of time.”

EcomFuel Founder on 2026 Industry Trends

For years EcomFuel has surveyed its community of ecommerce merchants about their growth, margins, tactics, and more. The company released this year’s findings last week.

Founder Andrew Youderian recaps the report in this episode, addressing the state of ecommerce among 300 participating businesses.

Our entire audio is embedded below. The transcript is edited for length and clarity.

Eric Bandholz: Give us a rundown of what you do.

Andrew Youderian: I run a company and community called eComFuel. My background is in starting and operating ecommerce businesses. We have an online message board, online forum, events, reviews, and research.

Our “2026 Ecommerce Trends Report” is based on responses from 300 store owners — mostly seven, eight, and nine-figure brands — who answered 50 questions.

We ask about traffic, margins, Amazon, warehousing, AI, business models, tariffs, and more. We don’t track the number of merchants who have exited the industry. People join and leave our community every month for various reasons. When asked, some say they’re closing their business. It peaked 12 to 18 months ago. I’m a little more optimistic about ecommerce for the next couple of years.

Going forward, successful brands will likely be smaller with loyal customers. They will make interesting products. They won’t grow as fast, but they’ll be much stickier and more durable in the long term.

The number of respondents in our report who manufacture products increased by 50% over the past three years. All other models were either flat or down. Respondents who resell products are largely unchanged. Private label sellers were down significantly. Drop shipping was down 50%. Merchants are adjusting to a new reality.

In 2017, about 20% of respondents’ total revenue came from Amazon. It subsequently spiked to about 28%. It’s now back to 20%, despite 63% selling on that marketplace.

I respect how Amazon built out its infrastructure for the long term. They’re not going anywhere, but the types of products they sell will likely be either very low-end or very high-end. They’ve lost the middle tier.

Bandholz: Have you tracked AI’s financial impact?

Youderian: For the trends report, we asked, “Have you meaningfully incorporated AI into your business?” Seventy-two percent of respondents said yes. The top four use cases were, in order, copywriting, images, analytics, and coding.

Certainly some merchants have dialed in AI and are seeing strong benefits. But most are still in the investment stage.

For example, EcomFuel has heavily invested in AI over the last year. We’ve built proprietary AI tools. But we’ve not seen great ROI from those efforts. That seems to be what’s happening for most ecommerce companies.

One of the most surprising findings in this year’s survey was the ages of AI adopters. Roughly 90% of respondents under 30 are using AI. But folks in their 30s are investing less than those in the 40- to 54-year-old cohort. Anecdotally, we’re seeing merchants build impressive in-house operational tools, and most are 40 or older.

Bandholz: Where can people join your community or reach out?

Youderian: Our site is eCommerceFuel.com. I’m on LinkedIn and X. I also host “The eComFuel Podcast.”

My Ideal Second Business

Molson Hart is the founder of Viahart, a D2C toy brand, and Edison, a legal technology company. He says every entrepreneur should own two businesses, where one offers more opportunities to scale, is more profitable, or diversifies risk.

I’m all in on Beardbrand, my own D2C brand launched in 2014. Molson is a two-time guest on the podcast. His comment got me thinking about an attractive second company, one that would enhance my life without creating stress and headaches.

So in this episode I’ll depart from my typical guest interviews and, instead, describe my ideal business.

My entire audio narrative is embedded below. The transcript is edited for length and clarity.

My optimal business is an ecommerce brand that sells easy-to-ship products. The items are likely small and, importantly, consumable. Once acquired, a customer would buy two or three times. The products would emphasize both value and prestige, with gross margins that at least cover acquisition ads on Meta.

Lastly, the products appeal to a large enough market to differentiate, niche down, and target the right audience.

So what are those?

Sean Frank is CEO of Ridge, the D2C wallet provider, and a veteran of this podcast. One could argue Ridge’s wallets are consumable: Release new versions, and they become fashion items, enticing repeat buyers.

Yet to me, consumables are what go in or on my body, what I eat or apply every day, such as food, supplements, and personal care goods. For ideas, I would walk into a grocery store, a Walmart, or a Target and just look around. What are folks buying? Which brands are old and stuffy, ripe for disruption?

Examples

Native has moved beyond deodorant, its original product. Moiz Ali, a former guest on this show, launched the deodorant-only brand in 2015 and reached $100 million in annual revenue within a couple of years. Native now sells multiple consumables: skincare, hand soap, toothpaste, and hair products.

Harry’s launched in 2012 as a D2C shaving goods provider, an affordable alternative to dominant players such as Gillette and Schick. The company was wildly successful.

Native and Harry’s focused on staples that consumers use daily.

Seven Sundays launched in 2011 at a Minneapolis farmers’ market. The founders, having realized that most cereal manufacturers used glyphosate-treated wheat and high-fructose corn syrup, offered a cleaner, healthier granola at a higher price point. It’s now a Certified B, ecommerce powerhouse.

Goodles sells a product every parent can appreciate: healthy macaroni and cheese for kids. The brand launched in 2020 with nutritious selections in bright, colorful packaging and fun product names, such as Shella Good and Twist My Parm. It’s another upstart challenging a dominant brand (Kraft) in a big market.

Opportunities

So the opportunities for me lie in creating new products in sizeable markets dominated by stale, out-of-touch providers.

I would differentiate those products in one of three ways.

First is better quality — superior ingredients or components. Parents who prioritize nutrition are unlikely to buy Kraft Mac and Cheese, but they would consider Goodles, even at a higher price. That’s one way to distinguish.

Another way is innovative packaging. Many entrepreneurs overlook this opportunity. Go again to Walmart, Target, and even trade shows. How are products presented and packaged? I’ve seen incredible packaging designs over the years. I once saw packaging for a cosmetic cream where users twisted a bottle cap and pumped the cream into a built-in bowl at the top, to then mix it before applying to their face.

The third way is branding. It’s often easier to launch a brand named after the products it sells or the audience it targets. But doing that can restrict the company later, when the market shifts. Vacation.inc avoids that trap. Founded in 2021, the brand sells sunscreen but can easily pivot to other products and services should the market evolve.

Cool Products

It rarely makes sense to exactly replicate what another entrepreneur has started. Don’t listen to a successful owner on a podcast like this and think, “That guest is killing it. I’m going to do the exact same thing.”

Often the owner has not proven the business over the long term, and regardless, copying her merely carves up that audience. Instead, learn from successful brands such as Vacation, Inc., and apply their tactics to an entirely different market.

Have some fun. Make your own cool products.

How Vessi Sells Waterproof Shoes

Ray Hua is the director of ecommerce at Vessi, a Canada-based direct-to-consumer seller of waterproof sneakers. The brand launched in 2017 after its founders developed and patented breathable fabric that repels water. Ray joined the company in 2021.

In our recent conversation, he shared the challenges of targeting the right audience, cross-border selling, diversifying, and more.

Our entire audio is embedded below. The transcript is edited for length and clarity.

Eric Bandholz: Give us a quick rundown of who you are and what you do.

Ray Hua: I’m the director of ecommerce at Vessi, a direct-to-consumer waterproof sneaker brand. I oversee strategies for site experiences, performance, merchandising, and lifecycle marketing. It’s been with the company for about five years.

Vessie launched nine years ago. Our founders developed and patented a lightweight, waterproof, and breathable fabric called Dyma-tex. People assume waterproof means it is not breathable. But our product is comfortable and looks like a regular sneaker.

During the pandemic, we gifted our product to healthcare workers. We received a lot of positive feedback from other communities, so we collaborated with niche networks to offer our products at a discount.

We’ve hired a lot of paid influencers in categories where folks are on their feet all day. We have tiers of influencers. Some have dedicated landing pages; others are for getting our name out.

We invest heavily in Meta for customer acquisition. We’re looking to diversify into Google and TikTok Shop. We’ve advertised on TikTok and even Reddit. Both drove a lot of traffic, but the quality was not very high. We couldn’t easily attribute revenue coming from those channels.

Bandholz: Vessi now sells apparel.

Hua: It’s more of an experiment in response to feedback in our customer surveys. Many mentioned expanding into apparel, socks, and accessories. They like our technology and want items that are fashionable and functional.

So we’re testing those categories for additional revenue. It hasn’t been smooth. We developed apparel that performed poorly and diverted resources from our footwear line.

Still, it was a good experiment and demonstrated the steep learning curve for a category we are not familiar with.

Bandholz: Vessi has warehouses in Canada and the U.S. Do you market differently to consumers in those countries?

Hua: Yes, we use different ads for each market. People in Canada know our brand. Our messaging to them is typically announcements about dropping new colors or limited editions.

We’re not as prominent in the U.S. Our ads there introduce the brand and explain the product’s benefits. Seattle is probably our best region in the U.S. It’s close to Vancouver and gets a lot of rain. We’re also strong in Florida, however, which is both sunny and rainy.

Bandholz: Does AI influence your marketing efforts?

Hua: We’re using AI tools mostly for operations. For example, we use AI to identify influencers aligned with our interests.

We’ve dabbled in AI to produce ad copy. We haven’t gone into AI-generated images or videos, mainly because we have strict brand guidelines.

Bandholz: Where can people find you, support you, buy your products?

Hua: Check out our products at Vessi.com. I’m on LinkedIn.

From Teacher to Fashion Brand Founder

In 2019 Nasrin Jafari was a middle school teacher in New York City. She had no ecommerce experience but was drawn to creating and building, which led her to sew and sell face masks during Covid.

Fast forward to 2026, and Mixed, her direct-to-consumer fashion brand, designs and produces female apparel and accessories. Referring to the company’s launch, she told me, “I had no idea how to make clothes.”

She does now, impressively, with multiple manufacturers, a thriving community, staff, and eager customers. She shared her story in our recent conversation.

Our entire audio is embedded below. The transcript is edited for length and clarity.

Eric Bandholz: What do you do?

Nasrin Jafari: I’m the founder and designer of Mixed, a fashion brand based in Brooklyn. Before Mixed, I was a middle school history and English teacher with no background in ecommerce. During the pandemic, I began sewing face masks by hand and posting them on Instagram. That was the first physical product I had sold. That experiment evolved into a full apparel brand.

It all began with Instagram posts, not Etsy or marketplaces. I didn’t understand Meta ads or ecommerce marketing. I’ve learned those pieces as the business grew.

Creativity has always been part of my life. I painted and took art electives growing up, and I was a competitive dancer in high school. Yet I’ve always been drawn to business and building things. In college, those interests merged into a desire to build something meaningful. I thought that might be as a school teacher.

In many ways, building a brand is similar to teaching. You’re creating a vision, culture, and community around shared values. Mixed reflects my identity — I’m Japanese, Iranian, and American. The brand name captures that blend of influences and the balance between creativity and operating a business.

Bandholz: Fashion seems highly competitive.

Jafari: I started the business out of curiosity. I had no idea what I was getting into. Would I choose to go into apparel again? Probably not, although there’s a side of it I love.

I learned by doing. Inventory is really tricky. I was afraid of overordering inventory and ending up with dead stock. That’s why we launched a pre-order model. We now do a lot of pre-orders, which helps our cash flow, but I didn’t start it for that reason. It was because I was out of stock. Then I realized that the model is great for business.

Another thing is returns, which are a big part of online apparel. We have to acquire customers in a way that accounts for returns. I didn’t understand that initially. Again, it comes down to learning by doing.

Bandholz: You design your apparel. Where is it manufactured?

Jafari: I was looking for factories during Covid. Many of them had excess capacity. I found a factory in India whose owner was based here in New York. So that was an in-person element to build trust and a relationship. He was willing to work with us with no minimum order quantities.

His cost was higher than, say, Los Angeles-based manufacturers, but we still maintained a 75% margin. Our average order is about $228.

We’ve since scaled and can order larger quantities. We’ve added factories with lower costs.

I found the India factory by googling. After that, it was recommendations from friends in the industry, which I prefer. They worked with them, vetted them, and liked them.

Bandholz: What is your production and design process?

Jafari: I had no idea how to make clothes. I literally went to JoAnn Fabrics and tried to follow the pattern. I realized quickly I wasn’t good at it, and it was going to take time. I had connected with a home sewer on Instagram. She seemed to love our brand but had not worked in a commercial capacity. I asked her to make our initial samples. She was thrilled. She made the initial samples, one of which remains our best-selling product.

Now I’m at a point where the factory does a lot of that. I send sketches with very minimal specs, and they can figure it out.

Selling true bespoke garments requires a dedicated designer, either in-house or outsourced. But factories with extensive garment experience can usually handle simpler items.

I design on an iPad with a stylus using Procreate.

Bandholz: I’ve seen your new-arrival ads on Instagram and Facebook. You seem to have a blueprint that is working.

Jafari: Yes, all our advertising has been on Meta. No Google or TikTok.

We have a couple of ad formats. It’s like a flywheel, as we continue to scale. We find the models, then shoot the videos in-house. Then we edit in the Philippines, and create and upload new ads to Meta.

My first successful ad came from an outing with a girlfriend. I was wearing one of my jumpsuits. I asked her to shoot me with a couple of angles, nothing fancy. It showed my outfit in an urban setting. The ad worked. We repeated the concept.

Bandholz: Are you handling your own fulfillment?

Jafari: Yes. Part of the initial rationale was returns, and part was our low volume. Plus, our pre-order model meant we were receiving inventory constantly. Getting it to an outsourced fulfillment provider added an extra step and delayed delivery to our customer.

Bandholz: How do you ensure your products resonate with would-be customers?

Jafari: When we design a piece, I’m always thinking about the customer — who she is, what she wants, and what we’ve already given her. The goal is to create what she needs next. My personal taste influences the brand, but I try not to be overly subjective about design decisions. Ultimately, customer response and sales tell us what works.

We also gather feedback from our community. We host discussions in our Circle community platform where customers comment on fabric designs, share preferences, and discuss products. That feedback, along with replies to my weekly newsletter and in-person events, provides valuable qualitative insight.

Our target customer is a 35- to 65-year-old woman who values creativity, independence, and self-expression— and wants clothing to reflect that.

Bandholz: Where can people buy your clothes, support you, follow you?

Jafari: Our site is MixedByNasrin.com. I’m on LinkedIn.

Ecomm Cowboy Talks AI and Underdogs

Chris Hall is an ecommerce entrepreneur turned media operator. His new “Ecomm Cowboy” show broadcasts live Monday through Friday on X and YouTube. The mission, he says, is twofold: deliver daily news to sellers and offer companionship to those working alone.

Chris first appeared on the podcast in 2023 as the marketing head of a D2C brand. In this our latest conversation, he addresses his goals for Ecomm Cowboy, production challenges, and, yes, the power of AI tools for one-person brands.

Our entire audio is embedded below. The transcript is edited for length and clarity.

Eric Bandholz: Who are you and what do you do?

Chris Hall: I’m the founder of Ecomm Cowboy, a startup media company broadcasting live Monday through Friday on X and YouTube. We talk about the current and future state of ecommerce so operators can survive and thrive. I launched the show about a month ago.

I stumbled into ecommerce in 2014. I created one of the first subscription coffee brands on the internet.

After that, I worked for a marketing agency and then with Bruce Bolt, the D2C athletic glove company.

Bandholz: What are your goals for Ecomm Cowboy?

Hall: I’ve contemplated the concept for years, with two missions.

First, ecommerce owners are on the bleeding edge of the ever-changing internet. We cover the top news stories, retail developments, direct-to-consumer topics, artificial intelligence — anything related to selling online.

Second, working from a laptop at home is common in the ecommerce industry, but it’s intensely lonely. For many, it’s a dreadful experience. So I hope Ecomm Cowboy is also a place where people can have a companion of sorts and interact.

Bandholz: A daily show with guests is a lot of work.

Hall: Yes, it is. We usually have one guest, but sometimes it’s two. Each show runs an hour. I hope to extend it eventually to two hours.

I prepare for three to four hours each day, covering everything that’s happened, who’s appearing, and what to discuss. Plus events occur in real time that alter the plan.

After each show,  there’s editing, cutting, and posting to make the most of the content. So it’s a lot of energy and time, but I love it.

I thrive on the pressure. There’s much to do every day before noon Central time, when the show goes live.

It brings me back to my time playing football at the University of Texas, where every practice I had to be ready to battle,  mentally and physically. A part of me still welcomes the challenge. I wake up excited every day because of it.

Bandholz: What’s the state of ecommerce?

Hall: AI tools are jaw-dropping. Six months ago, we were laughing at them, but no more. AI can now perform tasks such as ad creation, empowering what I call a one-person brand.

Sean Frank of Ridge, the wallet maker, calls it Ecommerce 4.0. It’s an opportunity for underdogs. One person, harnessing today’s tools, can do what took an entire team five years ago.

A good example is Kive, an AI tool that generates product specs directly within the image. A recent guest, Bart Szaniewski from Dad Gang, a D2C hat seller, described the tool. He uses the images on his Instagram feed.

Bandholz: If you can’t communicate in today’s world, you will be left behind.

Hall: That’s fair. The most adept operators are communicating (in ways I have yet to take advantage of) using AI tools that produce a voice, a video, a copywriting style.

I see two routes going forward. There’s the anti-AI bet. The best way to be anti-AI and build trust is to be live and in person. Be an actual human who’s making mistakes and producing something good enough that people will come back.

The second route is to stay at the forefront of AI technology and become expert on the tools and methods. If you can win visitors in a way that doesn’t deceive them, there’s a way to enrich yourself.

On a recent show, we touched on an app called DramaBox. It produces AI-generated TikTok-style mini dramas. Each episode is literally one minute long. I’m told the business is booming from selling access to the shows. Viewers download the app, pay, and then consume the content.

To me, it’s horrible for humanity, although I use an AI-powered video maker from ByteDance called Seedance 2.0. A number of popular videos use Seedance, such as Ethan Hunt from Mission Impossible.

Many observers say Hollywood is obsolete, a step behind. I don’t know about that. But what I do know is that the capabilities are better than ever.

And now it’s up to us. How can we use the tools to improve what we talk about or solve a problem for them?

Bandholz: Where can listeners watch your show, follow you, or get in touch?

Hall: The show “Ecomm Cowboy” on X and YouTube. I’m also on X or LinkedIn.

Dispatch from Davos: hot air, big egos and cold flexes

This story first appeared in The Debrief, our subscriber-only newsletter about the biggest news in tech by Mat Honan, Editor in Chief. Subscribe to read the next edition as soon as it lands.

It’s supposed to be frigid in Davos this time of year. Part of the charm is seeing the world’s elite tromp through the streets in respectable suits and snow boots. But this year it’s positively balmy, with highs in the mid 30s, or a little over 1°C. The current conditions when I flew out of New York were colder, and definitely snowier. I’m told this is due to something called a föhn, a dry warm wind that’s been blowing across the Alps. 

I’m no meteorologist, but it’s true that there is a lot of hot air here. 

On Wednesday, President Donald Trump arrived in Davos to address the assembly, and held forth for more than 90 minutes, weaving his way through remarks about the economy, Greenland, windmills, Switzerland, Rolexes, Venezuela, and drug prices. It was a talk lousy with gripes, grievances and outright falsehoods. 

One small example: Trump made a big deal of claiming that China, despite being the world leader in manufacturing windmill componentry, doesn’t actually use them for energy generation itself. In fact, it is the world leader in generation, as well. 

I did not get to watch this spectacle from the room itself. Sad! 

By the time I got to the Congress Hall where the address was taking place, there was already a massive scrum of people jostling to get in. 

I had just wrapped up moderating a panel on “the intelligent co-worker,” ie: AI agents in the workplace. I was really excited for this one as the speakers represented a diverse cross-section of the AI ecosystem. Christoph Schweizer, CEO of BCG had the macro strategic view; Enrique Lores, HP CEO, could speak to both hardware and large enterprises, Workera CEO Kian Katanforoosh has the inside view on workforce training and transformation, Manjul Shah CEO of Hippocratic AI addressed working in the high stakes field of healthcare, and Kate Kallot CEO of Amini AI gave perspective on the global south and Africa in particular. 

Interestingly, most of the panel shied away from using the term co-worker, and some even rejected the term agent. But the view they painted was definitely one of humans working alongside AI and augmenting what’s possible. Shah, for example, talked about having agents call 16,000 people in Texas during a heat wave to perform a health and safety check. It was a great discussion. You can watch the whole thing here

But by the time it let out, the push of people outside the Congress Hall was already too thick for me to get in. In fact I couldn’t even get into a nearby overflow room. I did make it into a third overflow room, but getting in meant navigating my way through a mass of people, so jammed in tight together that it reminded me of being at a Turnstile concert. 

The speech blew way past its allotted time, and I had to step out early to get to yet another discussion. Walking through the halls while Trump spoke was a truly surreal experience. He had truly captured the attention of the gathered global elite. I don’t think I saw a single person not starting at a laptop, or phone or iPad, all watching the same video. 

Trump is speaking again on Thursday in a previously unscheduled address to announce his Board of Peace. As is (I heard) Elon Musk. So it’s shaping up to be another big day for elite attention capture. 

I should say, though, there are elites, and then there are elites. And there are all sorts of ways of sorting out who is who. Your badge color is one of them. I have a white participant badge, because I was moderating panels. This gets you in pretty much anywhere and therefore is its own sort of status symbol. Where you are staying is another. I’m in Klosters, a neighboring town that’s a 40 minute train ride away from the Congress Centre. Not so elite. 

There are more subtle ways of status sorting, too. Yesterday I learned that when people ask if this is your first time at Davos, it’s sometimes meant as a way of trying to figure out how important you are. If you’re any kind of big deal, you’ve probably been coming for years. 

But the best one I’ve yet encountered happened when I made small talk with the woman sitting next to me as I changed back into my snow boots. It turned out that, like me, she lived in California–at least part time. “But I don’t think I’ll stay there much longer,” she said, “due to the new tax law.” This was just an ice cold flex. 

Because California’s newly proposed tax legislation? It only targets billionaires. 

Welcome to Davos.