Sara Foster & Phil Schwarz: Why Celebrity Brands Keep Failing l Trailblazers Podcast Episode 55

In this episode, we sit down with Sara Foster and Phil Schwarz, co-founders of Oversubscribed Ventures, alongside GP Erin Foster. We discuss how celebrity, media, and traditional venture capital are coming together to build a different model for investing in consumer companies.

Sara brings a background in entertainment, brand building, and consumer influence, while Phil brings decades of experience across technology, marketing, and venture capital, including serving as CMO of Tinder and Partner at Corazon Capital. Together, they break down why they started Oversubscribed Ventures, how they evaluate and support companies, and why millions of followers no longer guarantee that a product will sell.

We also discuss how AI could change the value of college degrees and entry-level jobs, what founders should expect from celebrity investors, how reputation travels through venture capital, and why they see major opportunities in consumer products and women’s health.

If you're interested in venture capital, entrepreneurship, consumer investing, celebrity brands, AI, startups, or the creator economy, this episode is for you.

This episode is supported by Sydecar, HEX, Wispr Flow, Granola, Beehiiv, Kalshi

Sydecar: https://sydecar.io/partners/trailblazers

beehiiv: https://www.beehiiv.com/splash?utm_campaign=trailblazers-2026-Partnership&utm_medium=podcast&utm_source=trailblazers&utm_term=podcast-1&stripe_campaign_code=TRAILBLAZERS30 (or use code “trailblazers30” for 30% OFF)

*beehiiv has a major announcement coming July 16 - can't say more, but you won't want to miss it. RSVP here: https://www.beehiiv.com/summer-release-2026

Granola: http://granola.ai/trailblazers

*Granola is the official notetaker of Trailblazers. Check out the episode show notes here: https://notes.granola.ai/t/8dccb81c-ac02-48e1-afb3-b6a7d8ff9160-00b881l8

Kalshi: http://Kalshi.com/r/trailblazers

Wispr Flow: https://ref.wisprflow.ai/trailblazers

HEX: http://hex.ai/trailblazers

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Trailblazers is your favorite tech + VC podcast, hosted by Erica Wenger (GP at Park Rangers Capital). Each week we sit down with founders, operators, and investors who’ve found conventional success in unconventional ways. New episodes every Tuesday.

Enjoy!

Timestamps:

• 00:00 - Intro
• 6:04 - Does a College Degree Still Matter?
• 9:24 - How Failure Led Sara to Bumble
• 12:05 - Why Authenticity Builds a Stronger Audience
• 19:00 - How Sara & Phil Started Working Together
• 22:14 - From Celebrity Partnerships to Startup Investing
• 27:30 - Why Celebrity Endorsements Are Failing
• 29:02 - Building Oversubscribed Ventures
• 35:08 - How They Choose and Support Their Investments
• 41:38 - Reputation, Founders & Managing Other People’s Money
• 45:57 - The Reality of Being Famous on Social Media
• 51:06 - Why They’re Betting on Women’s Health & Consumer Products