So who wins in the world of micro brands? Social networks that are truly social (as opposed to news oriented) and enable lifestyle discovery are perfect for this world, and nobody does this better than Instagram. But I do think there are opportunities for platforms such as Pinterest among others to facilitate the discovery of micro brands. And the issue of data privacy may mixup the landscape. On the seller side, the winners are clearly designers (who can rapidly develop brands and iterate design at the top of the funnel), companies like Shopify (that integrate with social networks and empower anyone to be a merchant), key suppliers to micro brands like Lumi (that develop distinguishing packaging and support the just-in-time needs to micro brands, in which I am an investor), and streamlined fulfillment services like Shipwire among others (that manage all the logistics of fulfillment). As for VCs, I wonder if they’re even needed. While I’ve invested as an angel in a few modern larger brands like Warby Parker, Roman, Primary, and Outdoor Voices over the years, some of these new micro brands I’ve heard about haven’t raised any capital at all.