Social Currency with Sammi Cohen

If you’ve driven through Los Angeles, you’ve already met today’s guest. Jay Luchs is one of the most influential retail real estate brokers in LA; his “For Lease” signs are plastered across the city’s most valuable streets, from Rodeo Drive to Melrose. But behind those signs is a business built on relationships, taste, and a deep understanding of what actually makes a retail concept work. In this episode, Jay sits down with Sammi to break down how the business really works: how he wins listings in one of the most competitive markets in the country, what founders consistently misunderstand about signing their first lease, and why picking the wrong landlord can quietly kill a business. They also go deep on the future of retail in LA—from why food and coffee are now the backbone of any successful retail strip, to how brands like Erewhon can completely transform a street overnight, to why there’s actually less available space than people think.  Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Follow Jay Luchs on Instagram Learn more about Mercury for Personal and Business Here’s what Sammi covers with Jay: 00:00 Jay Luchs’ Social Currency 02:22 Real Estate Origin Story 06:40 Why Real Estate Is a Creative Business 09:27 How the “For Lease” Empire Works 12:05 Winning Listings in a Competitive Market 14:19 What Founders Get Wrong About Leases 15:25 How to Spot a Bad Landlord 17:00 Choosing the Right Retail Location 18:46 Why LA Has Less Retail Space Than You Think 21:15 What Makes a Retail Area Thrive 22:24 How Social Media Changed Real Estate 29:03 Inside a Decade-Long Development Project 32:00 Turning Retail Into a Destination 37:23 Building Relationships That Last 40:01 Jay’s Daily System for Clarity 41:21 Can Retail Rebuild Communities? 45:12 What Makes a Brick-and-Mortar Store Succeed Learn more about your ad choices. Visit megaphone.fm/adchoices

Shreya Murthy built one of the rare social apps people want to open—and then immediately close. It’s all going according to plan. Her company, Partiful, has quietly become the go-to way Gen Z and millennials plan parties, birthdays, dinners—and even weddings. But what’s more interesting is how it won: by rejecting everything Big Tech historically has optimized for. In this episode, Shreya sits down with Sammi to break down why she turned down the metaverse narrative, refused to pivot to virtual events during the pandemic, and built a product designed to get people off their phones… not glued to them. They also get into what happened when Apple launched a nearly identical invite app, why Partiful draws a hard line on user privacy, and how tiny features like “boops” and “crushes” are actually the secret to product-market fit. Plus: the real monetization plan, why Gen Z hates “cringe” design, and how one party invite helped spark a viral cultural moment. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Follow Partiful and find your next party Here’s what Sammi covers with Shreya: 00:00 Shreya Murthy’s Social Currency 00:50 The Problem With Social Media 02:22 From Palantir to Consumer Tech 08:22 The Idea That Sparked Partiful 10:04 Turning Parties Into a Product 11:05 Launching During the Pandemic 13:56 Resisting the Metaverse Pivot 15:40 Building for IRL Connection 16:00 Why Gen Z Loves Partiful 18:27 The “Least Cringe” Product Strategy 20:20 Consumer vs Corporate Use Cases 22:05 Why Partiful Protects User Data 24:57 Monetization Without Selling Data 29:27 How Partiful Makes Money Today 31:23 The Philosophy: Get Off Your Phone 32:00 Discovering Events IRL 33:17 Brick and Mortar? 34:38 Features Like Boops and Crushes 38:00 Apple’s Copycat Moment 41:00 Growth Despite Competition 42:00 The Viral Timothée Chalamet Event 47:00 What Winning Looks Like 50:16 Social Currency Corner and Touching Grass Learn more about your ad choices. Visit megaphone.fm/adchoices

Seth Goldman built one of the most iconic beverage brands of the last two decades… only to watch it get discontinued by Coca-Cola. In this episode, Seth tells Sammi the full story: bootstrapping Honest Tea in the late ’90s when the category didn’t exist, educating consumers one sample at a time, and eventually partnering with Coca-Cola to scale what he believed could become a billion-dollar brand. Then came the gut punch: years after the acquisition, Coca-Cola made the decision to shut Honest Tea down. Instead of walking away, Seth did something few founders would do— he started over. He shares how he launched Just Ice Tea, rebuilt his supply chain using decades-old relationships, and scaled faster the second time around. Sammi and Seth also get into what it really takes to build a sustainable CPG brand, why most beverage startups fail, and the one mistake founders make before they even launch: focusing on branding before validating taste. Plus, Seth shares his long-term perspective from his work with Beyond Meat—and why he still believes the biggest consumer shifts take decades, not years. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Check out Just Ice Tea Here’s what Sammi covers with Seth:00:00 Seth Goldman’s Social Currency 00:50 Building Honest Tea Before The Market Existed 03:03 Creating Demand Through Sampling 05:00 Bootstrapping And Staying Scrappy 06:06 The Coca-Cola Investment Story 09:26 Inside The Coca-Cola Acquisition 10:48 Culture Clash With A Corporate Giant 11:00 The Day Honest Tea Was Discontinued 12:10 Why Seth Decided To Start Again 15:26 Why Beverage Is The Hardest Category 19:29 Launching Just Ice Tea Differently 20:53 The Mission Behind “Just Ice Tea” 23:17 What Makes The Product Different 25:00 From Eat The Change To Just Ice Tea 26:46 Betting Early On Beyond Meat 28:05 The Rise, Fall, And Rebuild Of Alt Meat 35:05 What It Takes To Build A CPG Brand 36:45 The Power Of Relationships And Karma 37:00 Would Seth Sell Again? 39:11 Seth’s Daily System For Clarity 40:03 The Future Of Food 41:18 The #1 Thing Founders Must Validate Learn more about your ad choices. Visit megaphone.fm/adchoices

Everyone has a podcast. So, where is the whitespace and what does it really take to break through?  Sammi sits down with Nayeema Raza, host of Smart Girl Dumb Questions and former The New York Times journalist, for a conversation on the modern media landscape, the podcast boom, and what they tell people who are thinking about starting a podcast. Sammi and Nayeema break down what it really takes to launch a podcast—and share exactly how much they’re making from theirs. Sammi and Nayeema also get into the bigger shift happening across media: why podcasting is becoming the new “TV” and why creators today need to think more like founders than talent. Plus, they unpack the rise of controversial content ecosystems like the “manosphere,” what it teaches about audience-building (even if you hate it), and where the line between journalism and creators is headed. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter Follow Nayeema and listen to Smart Girl Dumb Questions Here’s What Sammi Covers with Nayeema: 00:00 Have We “Made It” In Podcasting? 03:45 Social Vs. Podcast Growth 06:52 Why Everyone Has A Podcast 07:09 The Intimacy And Power Of Podcasting 08:00 The Rise Of The Manosphere 12:41 What Controversial Creators Get Right 17:12 “Is It A Scam?” Rapid-Fire 21:20 The Real Work Behind Podcasting 26:09 Is Podcasting Saturated? 28:38 Why Most Podcasts Fail 31:53 Is Podcasting Overhyped? 33:00 How Much Money Podcasts Actually Make 35:00 Building A Studio And Betting On Yourself 36:08 The Hidden ROI Of Podcasting 41:00 Journalism Vs. Creators 47:00 The Scariest Part Of Starting A Podcast 54:00 How To Break Through Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is a little different. Instead of a deep dive, Sammi turns the mic around and answers your questions—from career risks and leaving corporate to building a business, growing an audience, and figuring out what to keep private in a “build in public” world. She shares the unconventional bet that changed her career (starting on TikTok when people thought it was a “teen dancing app”), why she believes the best way to escape the corporate rat race is to test ideas on the side, and the fears that held her back longer than she wishes. Sammi also breaks down how to actually grow on social media (without burning out), what people don’t tell you about running a podcast, and the surprising lesson she learned after interviewing the founder of Juicero—and why every business story has more than one side. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Here’s what Sammi covers today: 00:00 A Different Kind of Episode 01:29 How to Escape Corporate 04:39 The Fear that Kept Sammi in Corporate Too Long 05:29 How to Grow on Instagram 07:23 What Nobody Tells You About Podcasting 09:23 A Found Story That Changed Sammi’s Perspective 10:49 What to Keep Private When Building In Public 12:00 The Question Sammi Can’t Answer Yet 12:36 Sammi’s Plan B 13:11 Is USC Worth It? 14:07 Dream Podcast Guests Learn more about your ad choices. Visit megaphone.fm/adchoices

Reid Hoffman has spent decades shaping how we work, from building LinkedIn to investing in some of the most important tech companies of the last generation. Now, he’s focused on what might be the biggest shift yet: artificial intelligence. In this episode, Reid breaks down why most people are thinking about AI wrong. Instead of replacing humans, he argues that AI is a “humanity elevator”—a tool that expands agency, unlocks new opportunities, and fundamentally reshapes how we work, learn, and make decisions. Sammi and Reid also get into the real fears: job displacement, misinformation, and biosecurity risks—and what people can actually do about it. Reid shares practical advice for anyone worried about falling behind, including the three AI skills that matter most right now, how to use AI to pivot your career, and why “just start using it” is the most important step. Plus: Reid’s take on digital twins, why creators won’t be replaced anytime soon and the reason he believes AI is not an existential risk. This episode was recorded on 2/12/2026. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter Check out Reid’s book SuperagencyHere’s what Sammi covers with Reid: 00:00 Reid Hoffman’s Social Currency 01:35 Why AI Expands Human Agency 05:08 The Real Risks of AI 08:11 What To Do If AI Threatens Your Job 11:21 Reid’s Daily AI Workflow 18:25 AI in Healthcare and Drug Discovery 21:05 Digital Twins and the Future of Creators 24:56 Reid’s Hottest AI Take 26:00 The Rise of AI Agents and Moltbot 27:00 Skills You Need to Stay Ahead Learn more about your ad choices. Visit megaphone.fm/adchoices

e.l.f. Beauty started as the makeup brand retailers thought was too cheap to trust: one-dollar products, white-label formulas, and no major retail partner willing to take the bet. Today, it’s one of the most culturally agile companies in consumer products, and one of the few beauty brands that consistently moves at internet speed. Today, Sammi unpacks how e.l.f. built that machine: from landing early credibility through magazine editors before influencer marketing even existed, to using TikTok before legacy beauty brands understood what the platform could do. She breaks down how CEO Tarang Amin helped transform the company by improving product quality while keeping prices low, aligning every employee around stock ownership, and building a culture that rewards speed. Then she gets into the campaigns that made e.l.f. impossible to ignore: the three-week Super Bowl ad starring Jennifer Coolidge, the provocative “So Many Dicks” Wall Street takeover, the backlash from a partnership misstep, and why the brand’s newest Melissa McCarthy campaign shows how precisely they read culture before they spend against it. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Here’s what Sammi covers today: 0:00 - Intro: How e.l.f. Became a Cultural Powerhouse 1:00 - The Origin Story: $1 Makeup Nobody Wanted to Carry 2:40 - Tarang Amin's CEO Playbook & Giving Equity to Everyone 4:00 - Marketing Move #1: Early Adoption of TikTok 4:40 - Marketing Move #2: The Jennifer Coolidge Super Bowl Ad 6:20 - Marketing Move #3: "So Many Dicks" Wall Street Takeover 7:20 - Marketing Move #4: The Matt Rife Misstep & What It Revealed 8:40 - Marketing Move #5: Melisa – The Telenovela Super Bowl Campaign 9:20 - The Takeaway: Moving at the Speed of Culture 10:40 - Outro Learn more about your ad choices. Visit megaphone.fm/adchoices

When her father died of a heart attack, Julie Smolyansky became the youngest female CEO of a publicly traded company. Then, she helped turn kefir from a niche probiotic drink into a mainstream wellness product found in major retailers across the country. Today, Julie tells Sammi how she scaled an unfamiliar category by teaching consumers what kefir even was before they were ready to buy it, why family businesses can become some of the hardest companies to lead, and how a public company changes when legacy, control, and outside pressure collide. She also opens up about the recent takeover fight involving Danone, what she believes was at stake for Lifeway, and why category leadership matters more than ever as GLP-1 trends reshape how food companies position protein, digestion, and health. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter Follow Julie’s story here Here’s what Sammi covers with Julie: :00:00 - Cold Open 01:00 - Introduction 02:20 - From Soviet Refugees to American Entrepreneurs 05:00 - The Lightbulb Moment: Discovering Kefir in Germany 08:20 - Building the Brand from the Basement Up 10:40 - Taking Lifeway Public in 1988 14:00 - Kefir vs. Yogurt: Understanding the Category 19:40 - Joining the Family Business 24:00 - Becoming CEO at 27 After Her Father's Death 29:20 - The Early Years of Leadership 32:00 - Marketing on a Zero Budget: Social Media as a Secret Weapon 37:00 - Scaling from Niche to Mainstream 40:40 - Entering the Cultural Zeitgeist (Wordle, Jeopardy) 43:40 - The Danone Takeover Attempt 48:00 - The Future: GLP-1s, Protein, and Food as Medicine 51:40 - Social Currency Corner: Would Lifeway Ever Do a Super Bowl Ad? 53:20 - Listener Question: Advice for Educating Consumers on New Categories 55:40 - ClosingHere's what Sammi covers with Julie: Learn more about your ad choices. Visit megaphone.fm/adchoices

Months into interviewing founders for this podcast, Sammi noticed something surprising: the most successful women were often practicing the same habits, but almost none of them were the things people usually talk about in founder profiles. Today, Sammi breaks down six patterns she has seen repeatedly across standout founders. The examples come directly from conversations with founders like Amy Liu (Tower 28), Maria Davidson (Kojo), Julia Hartz (Eventbrite), Babba Rivera (Ceremonia), Dianna Cohen (nm) Jenn Hyman (Rent the Runway), and others who built category-defining companies under very different circumstances—but often with strikingly similar instincts. Sammi also shares where she is still actively learning these lessons herself: leaving Amazon, building her own media business, overcommitting early, tying performance too closely to outcomes, and learning in real time what sustainable ambition actually looks like.  Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter Here are the full episodes Sammi mentions today: Amy Liu, CEO of Tower 28  Maria Davidson, Founder of Kojo Julia Hartz, CEO of Eventbrite  Babba Rivera, CEO of Ceremonia  Dianna Cohen, CEO of Crown Affair  Jenn Hyman, CEO of Rent the Runway Here’s what Sammi covers today: 00:00 The Founder Strategies Nobody Says Out Loud 01:19 Why Great Founders Build Networks Early 03:22 Launching Before You Feel Ready 05:00 Your Calendar Like a Financial Document 06:38 Self-Advocacy and Defending Your Vision 08:20 Hiring For Your Weaknesses 09:20 Separating Identity from Outcomes 11:15 One Habit to Start this Month Learn more about your ad choices. Visit megaphone.fm/adchoices

Laura Meyer has spent nearly a decade helping brands navigate Amazon, TikTok Shop, retail media, and now the next major shift in commerce: AI-driven shopping. Today, Sammi is partnering with Laura’s strategic commerce agency Envision Horizons to help brands get— and keep— attention in the changing world of online shopping. Laura explains why consumers are facing what she calls an “invisible tax on attention,” where prices rise because brands have to spend more on advertising just to stay visible in increasingly crowded digital platforms. She breaks down how rising customer acquisition costs are reshaping pricing, product quality, and platform strategy, and why even legacy brands are being forced to rethink where they spend every marketing dollar. Then the conversation turns to what may be the biggest shift ahead: consumers using AI before they buy. Laura shares new survey data showing that half of consumers switch brands after seeing recommendations from ChatGPT, why legacy brands are suddenly more vulnerable than they realize, and how platforms like Amazon, TikTok, and Shopify could each be affected differently as AI becomes the new shopping gatekeeper. She also explains why TikTok Shop remains a winners-and-losers platform, why she’s bearish on live shopping despite industry hype, and why logistics may still determine who wins the next era of commerce. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter Download the free report Laura references in this episode — "The New Blind Spot: Why AI Is Sending Your Customers to Competitors" — including the full consumer survey results and AI Readiness Checklist Want to know how your brand shows up when consumers ask ChatGPT? Book a free AI Readiness Audit Follow Laura Meyer on LinkedIn and learn more about Envision HorizonsHere’s what Sammi covers with Laura: 00:00 Laura Meyer’s Social Currency 02:31 Laura’s Background and Launching Envision Horizons 09:07 The Changing Online Landscape 11:28 Retail Media Explained 12:36 How AI is Changing Brand Discovery 16:00 What Happens when AI Ads Arrive 23:50 TikTok Shop vs Amazon Economics 29:44 Why Amazon Still Wins Fulfillment 35:00 New AI Consumer Survey Findings 40:23 Why UX May Matter Less in Agentic Commerce 46:37 What Brands Should Ask Agencies 52:00 Laura’s POV on Live Shopping Learn more about your ad choices. Visit megaphone.fm/adchoices

Julian Reis has built businesses across hedge funds, beauty clinics, China e-commerce, creator monetization, and now TikTok Shop infrastructure, but the throughline is the same: spotting where consumer behavior is headed before most people do. In this episode, Julian tells Sammi how he went from trading at JPMorgan Chase to founding Skin Laundry, pricing mistakes that almost hurt the business, and the lessons that came from building a beauty concept globally. Then he explains why moving to Shanghai in 2018 changed everything: watching creators sell inside China’s super-app ecosystem convinced him that American retail was years behind and that social commerce would eventually reshape how Americans shop. Julian breaks down how his company SuperOrdinary scaled from zero to 350 employees in China, helped brands like Drunk Elephant and Olaplex grow in Asia, and why TikTok Shop is creating a new kind of retail where creators function more like digital storefronts than influencers. He also shares why affiliate data matters more than follower counts, what kinds of products actually work on TikTok, why he believes creators may eventually IPO themselves, and how micro dramas could become the next major content-to-commerce engine. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter Learn More about SuperOrdinary Here’s what Sammi covers with Julian:00:00 Julian Reis’ Social Currency04:07 The Finance Chapter11:18 Why Skin Laundry Almost Failed19:37 Moving to Shanghai23:19 Building Brands in China31:00 Why China’s KOL Economy Changed Everything34:49 TikTok Shop’s Massive U.S. Opportunity39:00 What Brands Need To Win TikTok45:14 Fanfix, Micro Dramas, and Creator Monetization51:43 Could Creators Become Public Companies? 53:03 Social Currency Corner54:31 The Future of AI Twins and Creator IP Learn more about your ad choices. Visit megaphone.fm/adchoices

Before TikTok Shop, before influencers sold products through livestreams, QVC had already perfected the live shopping formula: charismatic hosts, product storytelling, and frictionless buying through a screen. Today, Sammi unpacks how the company that built the category became trapped protecting the wrong business. QVC saw digital change coming, but instead of building for where consumer attention was moving, it spent billions doubling down on legacy retail through acquisitions like Zulily and HSN just as cable television was collapsing. Now, with $6.6 billion in debt, restructuring talks underway, and TikTok becoming one of its last major growth bets, QVC has become a case study in what happens when a company masters a format but loses control of the platform that made it powerful. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Here’s what Sammi covers today: 00:00 How QVC Became a Cash Flow Machine 03:15 The First Big Wrong Turn 03:33 Why Zulily Failed04:33 The HSN Bet 05:17 Doubling Down on a Shrinking Market 06:37 Rebrands, Layoffs, and Decline 08:06 Why QVC Turned to TikTok 09:18 The Debt Problem 10:19 The Capital Allocation Lesson 11:05 The Big Lesson From the Billion-Dollar Crisis Learn more about your ad choices. Visit megaphone.fm/adchoices

Doug Evans didn’t just build a juicer… he built one of Silicon Valley’s most debated startups. As the founder of Juicero, Doug raised more than $100 million to bring cold-pressed juice into people’s homes, only to watch the company crumble after a viral Bloomberg article questioned whether the machine was even necessary. In this episode, Doug tells Sammi his side of the story.  He shares what Juicero was actually trying to solve, the power of a takedown piece, and the surprising role geography played in the company’s fate. He opens up about stepping down as CEO, the shock of watching the company shut down with capital still in the bank, and the fallout that followed. Doug sets the record straight and shares what never made it into the takedown pieces.  Then comes the reinvention. Doug shares how he retreated to the Mojave Desert, wrote a national bestselling book on sprouting, and launched a new direct-to-consumer company built around countertop food production.  Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Follow Doug and The Sprouting Company Here’s what Sammi covers today with Doug: 00:00 Doug Evans’ Social Currency 02:55 The “Genetically Cursed” Mindset Shift 04:23 Building Organic Avenue Before Juice Was Cool 09:37 Why Juicero Had to Exist 14:52 The Bloomberg Squeeze Story 17:53 The Media Pile-On and Fallout 25:34 Lessons on Leadership and Investor Alignment 27:38 Going Reclusive After Juicero 33:51 Mojave Desert Reinvention 37:37 The Science Behind Sprouts 41:15 Writing The Sprout Book 46:23 Pitching Sprouts on Shark Tank 51:45 From Trauma to Confidence 56:39 Making Sprouting Mainstream 01:12:12 Social Currency Corner Learn more about your ad choices. Visit megaphone.fm/adchoices

You can now get a discount on your Botox or Brow lift at… Erewhon? The latest partnership between Erewhon and med spa startup Ject isn’t just a publicity stunt. It’s a bigger signal: medical aesthetics has gone fully mainstream. In this episode, Sammi unpacks how Botox went from cosmetic approval by the U.S. Food and Drug Administration just 14 years ago to a $17B industry with more than 10,000 med spas across the U.S. She breaks down the forces behind the boom like loosened regulations, cash-pay margins, social media normalization, and why private equity is racing to roll up the space. But when the product is commoditized, what’s the real moat? Sammi’s takeaway: the brand is not the competitive advantage, it’s something else hiding in plain sight.  Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Here’s what Sammi covers today: 00:00 Grocery Store Botox  01:15 How Med Spas Took Off  02:04 Insane Growth By The Numbers  02:55 Regulatory Changes  03:36 Social Media’s Impact on the Landscape 04:28 Private Equity Moves In  05:43 The Rollup Playbook  06:48 HIV Outbreaks, Safety And Oversight Risks  08:24 The Real Differentiator  10:55 Who Wins Next Decade  11:11 How to Show Social Currency Some Love Learn more about your ad choices. Visit megaphone.fm/adchoices

Jesse Draper has heard it all: “nepo baby,” “charity fund,” “too niche”—and she turned every jab into fuel. After getting laughed out of rooms while raising her first fund, Jesse built Halogen Ventures into one of the earliest venture capital funds explicitly focused on backing female founders, now with 85+ portfolio companies and multiple unicorns. In this episode, Jesse breaks down how she actually evaluates startups when they’re early (and sometimes barely making their first dollar), the metrics she thinks founders overhype, and the green flags that make her lean in, like radical transparency and founders who are obsessed enough to “check QuickBooks” mid-question. She also tells the wild story of why she’ll never invest off Zoom again, how social media has changed consumer investing, and what the DEI rollback is starting to look like inside venture. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Jesse’s epic interview with Elon MuskFollow Jesse’s work at Halogen Ventures Here’s what Sammi covers with Jesse 00:00 Jesse Draper’s Social Currency 00:50 Meet Jesse Draper 03:00 The Reality of Being Fourth Generation VC 06:13 The Valley Girl Show and the Elon Musk Interview 16:36 From Entertainment to Entrepreneurship 18:25 Getting Laughed Out of Pitches and Championing Female Founders 25:36 Crazy Pitch Stories 27:25 The Wild Con Artist Story 30:29 Never Invest Based on Zoom Meetings 34:03 The Viral “Investing In Women Is Not a F*cking Charity” Essay 37:16 Data That Investing in Women Works 38:09 What Founders Should Know About Conversations with VCs  41:43 Red Flags and Green Flags 46:44 How Social Media Has Changed VCs 53:00 Future of Equity in VC 59:12 Investing in Alabama 01:07:56 Social Currency Corner 01:09:57 How to Show Social Currency Some Love Learn more about your ad choices. Visit megaphone.fm/adchoices

Starbucks didn’t lose to a cooler coffee chain. It lost to itself. Today, Sammi unpacks how one of the most dominant brands in modern retail engineered its own slide and what new CEO Brian Niccol is doing to fix it. From nixing pickup-only stores and cutting a quarter of the menu to investing $150K per location and betting on traffic before margins, Starbucks is attempting something rare: looking backwards to move forward. Sammi breaks down the latest numbers showing U.S. traffic rising for the first time in nearly two years, the massive menu and bakery overhaul, the revamped Rewards program, and the viral Bearista cups that reveal a deeper cultural strategy. Then, she shares what entrepreneurs can take away from the Starbucks turnaround — and why this comeback proves that even iconic brands don’t need reinvention, they need ruthless clarity about who they are and the discipline to execute on it. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Here’s what Sammi covers today: 00:00 The “Third Place” Promise — and the Self-Sabotage 01:30 From 17 Stores to a $78B Empire 02:33 When the App Took Over 03:28 Strikes, Boycotts & Inflation 04:42 The Cooler, Cheaper Competition 05:27 The Chipotle Fixer Enters 06:36 Traffic Is Finally Up 07:39 Cut the Menu, Then Rebuild It 08:58 Viral Merch and the Gen Z Play 09:54 The Founder Rule: Subtract First 11:12 How to Show Social Currency Some Love Learn more about your ad choices. Visit megaphone.fm/adchoices

Gregg Renfrew didn’t just build a beauty brand; she helped create an entire category. Long before “clean beauty” became a marketing buzzword, Gregg was lobbying Congress, reformulating products, and turning a mission-driven idea into Beautycounter, a billion-dollar company acquired by private equity. But the story didn’t end with the sale. Months after the $1B deal closed, Gregg was pushed out of the company she founded. What followed was a cascade of leadership changes, falling sales, and one of the most dramatic founder reversals in modern consumer business. In this episode, Gregg tells Sammi the full story—what founders misunderstand about selling, how investor dynamics really work behind the scenes, and what it feels like to watch your life’s work unravel from the outside. Then she shares the unexpected next chapter: the 48-hour scramble to buy the company out of foreclosure, the painful shutdown year that followed, and the decision to rebuild under a new name, Counter. Plus, Gregg opens up about walking away from private equity (for now), what she’s learned about resilience and second chances, and why starting over after a very public fall can become the most powerful chapter of all. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Follow Counter 00:00 Gregg Renfrew’s Social Currency 00:57 The Beautycounter Origin Story 02:32 Early Entrepreneurial Lessons 04:19 Inside Martha Stewart Living 08:22 Getting Fired and Starting Again 11:04 Why Clean Beauty Mattered 14:58 Building the First Products 18:56 Lobbying for Industry Reform 21:02 The Problem With “Clean” 27:24 The Sales Model Explained 35:25 Community, Women, and Work 38:35 The $1B Deal 39:31 Why Founders Sell 41:04 Investor Power Dynamics 44:15 Private Equity Reality Check 46:04 Post-Sale Fallout 47:32 Getting Pushed Out 48:52 Watching the Decline 50:28 The Brief Return 53:09 Buying It Back 55:55 The Shutdown Year 58:18 Rebuilding as Counter 01:00:51 Advice for Starting Over 01:04:42 No More Private Equity 01:10:08 Industry Shakeups 01:12:12 Social Currency Corner Learn more about your ad choices. Visit megaphone.fm/adchoices

When the most legendary makeup artist in the world, Pat McGrath, finally launched her own beauty brand, her hero product sold out in minutes.  Within three years, Pat McGrath Labs was valued at $1 billion. Today, it’s in bankruptcy court. Today, Sammi dives into the dramatic rise and unraveling of Pat McGrath Labs. Valued at roughly 25 times revenue, the brand was suddenly operating under hypergrowth expectations that clashed with its luxury positioning and deliberately controlled expansion. As sales slowed, distribution widened, and investor pressure intensified, what began as a cash flow squeeze spiraled into something much bigger. Sammi breaks down the aggressive private equity deal that set the tone, the strategic tension between artistry and scale, and the $17.5 million bridge loan that ballooned into a $43 million claim—ultimately triggering a last-minute Chapter 11 filing to stop a forced auction. It’s a case study in valuation psychology, capital structure, and what happens when the wrong money meets the right founder at exactly the wrong time. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  00:00 The Rise of Pat McGrath Labs  02:51 The Billion Dollar Valuation Problem  04:17 The Sales Strategy Challenges 08:00 The Predatory Loan  08:59 The Bankruptcy Filing  10:26 Lessons and Cautionary Tale 13:10 Pat McGrath’s Personal Liability 15:29 Takeaways From Pat McGrath Labs  16:22 How to Show Social Currency Some Love  Learn more about your ad choices. Visit megaphone.fm/adchoices

AI is no longer a future trend—it’s already reshaping how countless people work. And few people are closer to that shift than Aparna Chennapragada, Chief Product Officer for AI experiences at Microsoft. In this conversation, Aparna pulls back the curtain on how AI is actually being built into everyday work. She shares her bold two-year prediction for how work will change, tips for using AI to ace your next big meeting, and what Gen Z expects from the tools they use every day. They also get honest about the bets that didn’t work, how to prioritize when everything feels urgent, and the leadership lessons Aparna has learned scaling innovation inside one of the world’s largest companies. Plus: why prompting may be the most important new career skill—and what that means for managers, creators, and anyone trying to stay relevant in the AI era. 00:00 Aparna Chennapragada’s Social Currency  02:23 Bold Predictions for AI in the Next Two Years  03:48 How Microsoft's AI Strategy Has Evolved 06:39 AI Hacks For Your Next Meeting 11:39 Empathy in AI Design  13:50 How to Prioritize When Everything Feels Urgent  17:27 The Right Way to Think About Customer Feedback  19:39 Gen Z's Influence on Design  22:47 Workshopping Cohesiveness and Interoperability  25:46 Staying Focused in a Noisy AI World  29:28 Mastering the Skill of Prompting  34:11 AI in Education and Parenting  35:24 Leadership Principles in AI Development  38:33 How to Have Difficult Conversations With Your Team 40:24 Innovating at the Speed of Tryst  42:35 The Future of AI in Media  45:37 Hot Takes on AI 47:10 Social Currency Corner  50:09 Advice for New Product Managers  51:37 How to Show Social Currency Some Love Learn more about your ad choices. Visit megaphone.fm/adchoices

Aldi is quietly becoming the fastest-growing grocery train, without flashy stores, massive advertising budgets, or endless product choice. In this episode, Sammi breaks down how the company’s deliberately simple model (limited assortment, extreme cost discipline, productivity obsession, and private-label strategy) has allowed it to grow rapidly while competitors struggle with rising prices and complexity. Drawing on her own experience training to be an Aldi District Manager, Sammi explains the one rule that has cemented Aldi’s position leading the pack. At the center of Aldi’s strategy is a single internal question that guides nearly every choice. Understanding that principle helps explain not just Aldi’s growth, but why the model continues to hold together as it scales. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Here’s what Sammi covers today: 00:00 Aldi’s Social Currency 02:15 Aldi’s origin story 03:12 The kidnapping 04:05 Trader Joe’s and the Aldi split 06:40 How Aldi scaled 08:34 Ruthless efficiency 10:15 Private label products 10:59 Sammi’s Aldi days 12:35 Aldi’s customer psychology strategy 14:28 The single internal rule that explains Aldi’s success 16:04 How to show Social Currency some love Learn more about your ad choices. Visit megaphone.fm/adchoices