How did Elizabeth Stein grow Purely Elizabeth for 17 years and still own most of it when she sold?
Elizabeth Stein started Purely Elizabeth with $5,000 of her own savings in 2009, self-funded for eight years, and by Forbes' estimate still owned about two-thirds of the company when Ferrero agreed to buy it in 2026. This letter explains in plain language what outside money really costs a founder, why money taken later costs far less of the business, and how an owner can pay for growth from margin, a loan, or her own cash instead.
Why did Alex Cooper shut down her drink line the same week her company was valued at $500 million?
Alex Cooper's Unwell ended production on its Nestlé-made drink line in August 2026, one day after investors valued the rest of the company at $500 million. Nobody involved has said why, and the beverage division's numbers were never made public, so this letter works from what is known: Unwell was profitable and self-funded, which means the podcast business paid for the drinks out of its own pocket. It explains why a product business and an audience business collect money in opposite orders, and how to find out which of your own offers is funding the rest.
Why Was Everlane Evicted the Same Year It Sold for $100 Million?
Everlane sold to Shein in 2026 for a fraction of its 2020 valuation, after new ownership borrowed heavily to reposition the brand upmarket instead of protecting the customer trust that built it. This piece breaks down the financial mechanism behind that decision, gross margin, debt, and the cost of chasing a new customer, and what it means for any founder deciding who to court and who controls the money in her business.