Bountifull Podcast

Three Startups, One Big Pivot and the Power of Changing Your Mind

Bountifull Podcast

Show Notes

“Find things that you’re passionate about and go and work on those.” In this episode, Michael Fox shares the story behind Fable and the journey that brought him to the world of mushrooms, food innovation, and purpose-driven business. We talk about entrepreneurship, the lessons he’s learnt across his three startups, failure, changing your mind as you learn, and how life experiences can quietly reshape what you care about and the work you want to do. We also talk about burnout, family, nature, gratitude, and what he values now.

Episode highlights Michael’s upbringing across small mining towns in Australia and the entrepreneurial instinct that showed up early

The lessons he’s learnt across three startups and how each business shaped the next

Failure, burnout, and what it takes to start again

How his father’s cancer diagnosis changed the way he thought about food, health, and the wider food system

Why changing your mind as you learn can be a strength

The story behind Fable and why mushrooms became the foundation of the business

What makes shiitake mushrooms so interesting from a flavour, nutrition, and processing perspective

The difference between mushrooms and mycelium, and why that matters

Michael’s thoughts on fibre, vitamin D, protein, and the health potential of mushrooms

Raising money again and building with more discipline the second time around

Family life, nature, gratitude, and what matters most to him now

Chapters 00:01:56 Michael introduces Fable and explains the company’s mushroom-based product 00:02:49 Growing up in Australia and early entrepreneurial instincts 00:05:17 What a bountiful life means to Michael 00:05:40 Advice for his 25-year-old self 00:06:10 Why passion for the product matters in business 00:07:01 His three startups and lessons from building consumer businesses 00:08:33 The original idea behind Shoes of Prey and what it taught him 00:13:27 Burnout, stress, and perspective during difficult seasons 00:15:43 How food, health, ethics, and the environment reshaped his thinking 00:18:02 Changing your mind as you learn 00:19:07 Why trying to convert people did not work, and what does 00:24:29 Why mushrooms 00:28:00 Shiitake stems, supply chains, and how Fable thinks about production 00:31:45 Mycelium vs mushrooms 00:36:13 Fibre, protein, calories, and vitamin D 00:40:16 Mushroom foraging tours and the Zac Efron Netflix feature 00:42:43 Fable’s restaurant and meal kit partnerships 00:44:11 Building a business that feels more aligned 00:45:39 Product-market fit, raising less capital, and building differently 00:48:05 Raising money and starting again after failure 00:52:40 Moving from the Sunshine Coast to Brooklyn 00:55:28 Nature, city life, and staying connected to what matters

Guest bio Michael Fox is the co-founder of Fable, a food company creating mushroom-based products designed to help people eat less meat. Before starting Fable, he built earlier consumer businesses including Shoes of Prey and Sneaking Duck. In this conversation, he shares what those experiences taught him about entrepreneurship, customers, product-market fit, and starting again. Michael grew up in Australia, studied at the University of Queensland, and now lives in Brooklyn, where he moved to help grow Fable in the US market. https://www.fablefood.co/ linkedin.com/in/michaelfox1

About the Bountifull Podcast The Bountifull Podcast explores what it means to live a bountiful life through conversations on personal growth, happiness, emotional wellbeing, resilience, health, creativity, and meaningful work. Hosted by Sian Simpson, each episode features interesting people from diverse backgrounds sharing real stories, practical insights, and life lessons to help us live with more joy, purpose, and connection.

https://bountifullworld.com/

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