Before becoming managing partner at Gen Z-focused venture firm Animal Capital early this year, Marshall Sandman had been advising celebrities, reality TV stars and social media creators, such as chef Jake Cohen, about what he calls building the “equity component of their business.” That work, which he has kept up on the side, includes educating them about investing, using convertible securities or what questions to ask when speaking to venture capital firms. 

“Social media stardom has a shelf life. That can be six months, a year, five to seven years. It’s rarely longer than that,” Sandman, who is based in New York, said in an interview. “I tried to build a framework and playbook for these celebrities.”