From Alcohol to a Non-Alcoholic Empire | Bill Shufelt

Bill Shufelt, CEO and co-founder of Athletic Brewing Company, shares the remarkable journey from high-intensity finance to building the world’s leading non-alcoholic beer brand. In this conversation, Ken Rideout and Bill go deep on the real story behind Athletic: Bill’s personal struggle with alcohol, the moment sobriety changed everything, and the “missionary vs. mercenary” mindset that kept him committed to impact over exits.

Bill breaks down what it actually took to get Athletic off the ground—raising early capital through relentless rejection, building breweries from scratch to protect quality, and scaling through multiple economic cycles. They also touch on fitness, endurance, family support, and why younger generations are changing the future of drinking faster than most people realize.

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Thank you to our sponsors

Ketone-IQ: ⁠https://ketone.com/rideout Code “RIDEOUT”

Athletic Brewing: https://athleticbrewing.com Code "Rideout"

V14: ⁠https://v14.com/rideout⁠ Code “RIDEOUT”

Chapters

(00:00) Introduction and Guest Welcome

(00:19) The Journey of Athletic Brewing

(02:18) Missionaries vs. Mercenaries

(02:45) The Brewing Evolution

(06:43) Finance Career Beginnings

(08:55) Trading Desk Realities

(16:59) The Turning Point: Sobriety

(25:36) Discovering a New Path

(36:14) The Birth of Athletic Brewing

(46:05) Making the Leap

(47:55) Facing Rejection and Learning from Setbacks

(48:13) The Struggles of Early Capital Raising

(50:04) Unexpected Challenges and Small Wins

(51:47) Finding the Right Partner and Building the Team

(55:16) The Decision to Build Our Own Brewery

(01:02:01) Overcoming Economic and Logistical Hurdles

(01:18:31) The Importance of Passion and Community

(01:20:46) Marketing Wins and Lessons Learned

(01:25:14) The Journey of Growth and Future Plans

(01:33:38) Final Thoughts and Reflections

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