Consumer Investing Struggled Even in the Boom Times. 2023 Was Worse. Can AI Save It?

Consumer startups have struggled to raise funds since the venture downturn began in 2022, and 2023 was a debacle.

As of November, VCs had only invested $130 million in direct-to-consumer companies for the year, down a startling 97% since the 2021 peak of $5 billion, with other consumer-facing sectors faring only a little better. With the implosion of SmileDirectClub and languishing stocks for public companies like Warby Parker and Allbirds, direct-to-consumer companies have been especially hard hit. READ MORE