340: How Gabi Lewis dominated a $40 billion industry

The Foundr Podcast with Nathan Chan

Gabi Lewis, Co-Founder, The Magic Spoon

In this yummy episode, Gabi Lewis, Co-Founder of The Magic Spoon, sits down with Nathan Chan to discuss his journey from founding the revolutionary EXO protein snack made from crickets, to dominating the $40billion a year cereal industry.

Listen in as Lewis reveals how he managed to get Tim Ferris and Nas as angel-investors onboard for EXO snacks, his journey into the competitive world of cereal, and how Magic Spoon continues to stay ahead of the competition.

In this deep-dive interview, you’ll find out why Lewis swears by agencies, the opportunities in influencer marketing, and why product-fit is an absolute essential for any founder.

Lewis’ incredible journey from crickets to cereal is a not-to-be-missed lesson in entrepreneurship and the importance of saying “no”. Key Takeaways

• How Lewis started Exo Protein, selling cricket protein bars
• Recognizing the paleo food trend and targeting that market
• How Lewis got angel investors such as Tim Ferris and Nas
• His decision to sell the company and launch Magic Spoon cereal
• Why Magic Spoon is a direct-to-consumer product and the advantages of ecommerce
• The successful launch of Magic Spoon and the power of influencers
• Why product-market fit is the most important aspect of launching a business
• How Magic Spoon was affected by Covid and the evolution of hiring and scaling
• The decision to not sell Magic Spoon on Amazon, and the power of customer-brand loyalty
• Why Lewis believes that a high-quality product is the most important aspect of any business
• Lewis’ advice to others that as a founder, you should never be distracted, and why your job is to say “no”