Reclaiming Our Children’s Health: Why I Embrace the MAHA Vision
Perspectives by Martin Dolfi, Founder & CEO of Beliade Consumer Partners
Dear Friends,
Everywhere I look—as a father of three, as an investor in consumer health, and as a proud American—I see the same story: our children are getting sicker, weaker, and more disconnected from what makes life vibrant and real. Childhood obesity is at an all-time high. Anxiety, screen addiction, and chronic illness are becoming the norm. And much of what we feed our families is produced by a food system built for profit, not nourishment. That’s why I believe in the MAHA Vision: Make American Health Again. It’s not just a slogan—it’s a rallying cry. A blueprint for revitalizing our families, reshoring our supply chains, and rebuilding a future where our kids can thrive.
A few weeks ago, the White House released its Make Our Children Healthy Again (MAHA) Assessment. The findings were stunning—putting hard numbers behind what parents and pediatricians have whispered for years: our kids are in trouble. The reaction was swift and emotional. Headlines about surging childhood illness have sparked a wave of concern, even panic. I understand that response. The statistics are alarming. But I also see this as a turning point—a moment of clarity that gives us the chance to rally around something better.
This letter is meant to be thought-provoking and to offer a constructive perspective—grounded in data, examples, and personal conviction—on why I strongly agree with the report’s conclusions, and how confronting this crisis can unlock real benefits for American families and the companies that serve them. The challenges are massive—but so is the opportunity. What follows is a theme-by-theme look at the MAHA report’s findings—from diet and chemicals to screens and medicine—and why tackling these root causes today will lead to healthier kids, stronger families, and new businesses devoted to helping families lead healthier lives.
The Childhood Health Crisis: A Generation at Risk
America’s children are facing an unprecedented health crisis. The MAHA Assessment makes this plain in stark terms: over 40% of U.S. children have at least one chronic health condition. Think about that – nearly half of our ~73 million kids are grappling with issues like asthma, allergies, obesity, diabetes, developmental disorders or mental illness. These aren’t minor ailments; they’re conditions that can affect a child’s entire life trajectory. And the trends are moving in the wrong direction: study after study confirms that chronic ailments in kids have risen dramatically over the past few decades. This isn’t just a pediatric problem – it’s a national emergency.
The consequences extend far beyond the doctor’s office. When three-quarters of young Americans aren’t fit to serve in the military due to obesity, poor fitness, or mental health challenges, our national security is directly impacted. When today’s children are on track to be the first generation with shorter lifespans than their parents, our economic future and workforce are imperiled. Indeed, the report notes that 75% of 17–24 year-olds are ineligible for military service primarily for health reasons – a chilling indicator of how pervasive this problem has become. We now have, as one official put it, “the most obese, depressed, disabled, medicated population of young people in the history of the world”. No society can sustain that trajectory and expect to thrive.
It’s not for lack of spending or technology. The United States pours more money per capita into healthcare than any nation – over double what our peers spend – and yet we have worse outcomes by many measures. As the report starkly observes, despite these enormous investments, we rank last in life expectancy among high-income countries and suffer higher rates of obesity, heart disease, and diabetes. In short, today’s children are the sickest generation in American history in terms of chronic disease, and these preventable trends worsen each year, threatening our nation’s health, economy, and even military readiness. This is the backdrop against which the MAHA Commission did its work – and why its findings matter so much.
So what’s driving this crisis? The MAHA report identifies four key, interconnected forces behind the decline in children’s health: (1) the shift to ultra-processed, nutrient-poor diets; (2) the cumulative exposure to environmental chemicals; (3) the collapse of physical activity and the rise of chronic stress in a digital age; and (4) the overmedicalization of children – an overreliance on pharmaceutical interventions. None of these will surprise health-conscious parents, but seeing them laid out in a unified national strategy is powerful. After decades of fragmented, often ineffective approaches, the federal government is finally acknowledging that we must confront root causes, not just manage symptoms. That means rethinking how we grow and feed our kids, how we regulate toxins in their environment, how we balance screen time with play time, and how we deploy medicine in pediatrics. In the past, these topics were too often siloed – tackled in isolation or, worse, ignored due to political or industry pressures. Now we have a comprehensive diagnosis. And importantly, this is not just a policy problem or a parenting problem – it’s a generational challenge that every sector, including the private sector, must help solve.
As an investor who has spent years supporting consumer businesses aimed at healthier living, I find this report deeply validating. It’s heartbreaking to read about the extent of the crisis, but it’s also energizing: the MAHA report is effectively a national call to action. It says, in essence, that we know the factors making our kids sick – and thus we have a roadmap to reverse these trends. In the sections below, I’ll delve into each of the report’s major themes. I’ll also share why each of these areas resonates with Beliade’s long-term investment strategy. Our firm, after all, was founded on the conviction that supporting healthier families is not just good ethics, but good economics. The world is waking up to problems we’ve been working to address for years – and that alignment between public interest and private innovation is full of promise.
Ultra-Processed Foods: From Convenience to Crisis
Perhaps the most immediate and visible driver of the childhood health crisis is what’s on our plates. American kids today are largely eating foods that barely resemble real, whole food. The MAHA Assessment forcefully highlights that over the past 50 years we’ve undergone a dramatic dietary shift – from home-cooked meals and simple ingredients to an overwhelming reliance on ultra-processed foods (UPFs). These are the packaged snacks, sugary drinks, fast foods, and ready-to-eat meals engineered for convenience, low cost, and long shelf life – often at the expense of nutrition. The statistics are startling: today, over two-thirds of the calories consumed by American children come from ultra-processed grains, sugars, and fats. In other words, the majority of what our kids eat is industrially manufactured, high in added sugars and chemical additives, and low in essential nutrients.
It’s no coincidence that childhood obesity has skyrocketed in tandem with this dietary shift. More than 1 in 5 U.S. children over age 6 is now obese – a 270% increase since the 1970s. Related conditions like type 2 diabetes, once virtually unheard of in kids, have become far too common (teen pre-diabetes now affects over 1 in 4 adolescents, having more than doubled in the last 20 years). These conditions set children up for a lifetime of health struggles – and they are largely preventable with better nutrition and lifestyle. The MAHA report doesn’t mince words: it ties ultra-processed foods directly to the explosion in childhood obesity and metabolic diseases, as well as to behavioral issues. Emerging research suggests that diets high in refined sugars and food additives may even contribute to conditions like ADHD and mood disorders in some children. Any parent who has witnessed the classic sugar-induced hyperactivity or mood crash in their kid can intuit the link. Now science and policy are catching up to what common sense told us: diet matters profoundly for children’s health – and our modern food system has veered off course.
How did we get here? Part of the story is an amazing tale of American innovation – the rise of convenience foods that saved busy families time in the kitchen. Fast food and packaged snacks are, in many ways, a distinctly American invention, and they delivered short-term benefits: cheap calories, easy access, long shelf stability. But as the report points out, those benefits came with hidden costs. Over decades, policies and market forces tilted the playing field toward processed food. Agricultural subsidies made commodity ingredients (corn, soy, sugar) ultra-cheap, fueling a boom in sodas and snacks. A handful of corporations consolidated control over food production and distribution, focusing on products that maximize profit – often the highly processed, hyper-palatable items that fly off shelves. Today, just four companies control 80% of the meat market and similarly outsized players dominate packaged foods. Our local farms, meanwhile, got squeezed: only 16 cents of every dollar Americans spend on food goes to the farmers who actually grow it, while 84 cents goes to processors, distributors, and marketers of added-value products. The system rewards scale and shelf stability, not nutrition. And even well-intentioned government programs inadvertently reinforced the wrong incentives. For instance, the report highlights that our largest nutrition assistance program, SNAP, allows benefits to be spent on virtually any grocery item – including soda and junk food – with the result that children in SNAP households consume significantly more sugary drinks and processed snacks than their peers. The outcome has been described bluntly: taxpayer dollars have effectively subsidized a junk food diet for our most vulnerable kids.
Reversing this will require realignment on many fronts – from farm policy to school cafeterias. Encouragingly, leaders are taking note. “We must do more to improve the health of our kids and families, and [agriculture] is at the heart of the solution,” says the U.S. Agriculture Secretary, who emphasizes that American farmers produce some of the world’s healthiest food – we just need to get more of that whole, nutritious food onto our children’s plates. That means fresh fruits and vegetables, high-quality proteins, whole grains – foods our great-grandparents would recognize. It also means cracking down on some of the worst contributors: for example, the FDA just announced plans to phase out petroleum-based artificial food dyes in favor of natural alternatives. (Every parent who has cringed reading colors like “Red #40” on a candy wrapper can applaud that move.) The MAHA report’s influence is clear here: it identified synthetic food additives and aggressive food marketing as culprits in child health issues, and regulators are responding with overdue action.
As an investor focused on consumer health, I find this shift heartening because it validates the path we’ve been on. At Beliade Consumer Partners, we have long supported food and beverage brands that buck the ultra-processed trend – companies using real ingredients, minimal processing, and transparent sourcing to provide convenient foods without the unhealthy trade-offs. We’ve backed natural snack makers who prove you can satisfy kids’ taste buds with organic ingredients instead of chemicals. We’ve invested in ventures connecting local farms to family dinner tables, shortening the supply chain and boosting food freshness and quality. We’ve championed startups that reinvent beloved staples – from ice cream to chips – in clean-label, allergen-friendly, wholesome ways. Ten years ago, these kinds of “clean food” companies were niche challengers; today, they are scaling rapidly as consumer demand shifts toward health and authenticity. The MAHA report essentially says the entire country needs to follow that lead. It’s calling for an American food renaissance: one that retains our strengths of abundance and innovation but refocuses on nourishment over mere calories.
For investors, this represents a tremendous opportunity. Imagine the impact if even a fraction of the $113 billion SNAP budget or the vast school lunch programs tilt toward healthier options – the market for truly nutritious food could explode in the coming years. Brands built on whole foods, organic produce, plant-based nutrition, and probiotic-rich alternatives are positioned to thrive with policy tailwinds behind them. And importantly, these mission-driven brands are resonating with consumers. It’s not just regulators – moms and dads themselves have been driving this shift, reading labels more carefully and seeking out better choices. We’re seeing it in our portfolio performance: companies that deliver clean ingredients, functional wellness benefits, and honest storytelling are no longer a niche – they’re becoming the new mainstream. In short, the market is rewarding health, and now public policy is catching up to reinforce that trend. As someone who has bet on better food for years, I’m more optimistic than ever that we are at the dawn of a healthier era for the American diet. The convenience revolution of the 20th century made food abundant – the health revolution of the 21st will make food nourishing again.
The Cumulative Load of Chemicals in Our Environment: Invisible Threats
If diet is the most visible input to children’s health, environmental chemicals are the more hidden menace. Here, too, the MAHA report sounds an alarm that has been growing louder in scientific circles: we have filled our children’s world with synthetic chemicals, often without fully understanding their long-term safety. From the plastics in baby bottles, to the pesticides on produce, to the flame retardants in furniture – modern kids are exposed to thousands of man-made substances that simply didn’t exist a few generations ago. The assessment emphasizes this cumulative exposure. It asks us to consider the total chemical load a child carries in their body from conception through adolescence – a burden linked to everything from neurodevelopmental delays to hormonal imbalances. Even in low doses, and especially in combination, these chemicals may pose risks that our current regulatory system struggles to detect.
The report gives some striking examples. Children today are born pre-polluted: studies have found dozens of industrial chemicals in newborns’ cord blood. As they grow, kids ingest and inhale a complex brew: heavy metals like lead and arsenic (in water, soil, and even some foods), pesticide residues on fruits and veggies, phthalates and BPA from plastics and can linings, flame retardants from household dust, and the now-infamous PFAS “forever chemicals” in nonstick pans, food packaging, and drinking water. Any one of these in isolation might be below a safety threshold, but the concern is their combined, chronic effect on a developing child’s body. Children are not mini-adults; they are uniquely vulnerable because their bodies and brains are still developing and because they consume more per body weight (think of how much milk, water, and air an active kid goes through each day). As the report notes, certain chemicals can have endocrine-disrupting effects – meaning they interfere with hormones even at low doses – or neurotoxic effects that may contribute to learning and behavioral issues. It’s extremely difficult to conclusively prove causation in each case, but the correlations are worrisome. For instance, some research links early pesticide exposure to higher autism rates, or heavy metal exposure to lower IQ and attention problems. We do know that conditions like childhood cancers have risen (incidence up ~40% since the 1970s) and while better diagnosis plays a role, environmental factors are a prime suspect in this increase.
Crucially, the MAHA Commission has framed chemical exposure as a solvable problem. It’s refreshing to see a pro-growth, pro-innovation administration also championing environmental health protections – a reminder that these are not partisan issues but common-sense ones. The report calls for strengthening regulations to identify and reduce harmful exposures, and for more research into the thousands of compounds on the market that we know too little about. In fact, positive steps are already underway: the EPA is moving to establish the first-ever national drinking water standards for certain PFAS chemicals, and considering regulatory limits on several more. The FDA, as mentioned, is targeting food additives like artificial dyes. There’s talk of revisiting the GRAS (“generally recognized as safe”) loophole that has allowed numerous food additives to bypass rigorous testing. And beyond government, we’re seeing momentum from the private sector too – big retailers phasing out things like BPA or phthalates due to consumer pressure, and innovative startups creating cleaner, bio-based alternatives to toxic materials.
For Beliade and our portfolio, this focus on chemical safety is music to our ears. We have always believed that transparency and purity in consumer products are differentiators. Our investment strategy has long prioritized companies that eliminate questionable chemicals from their products and supply chains – not because regulations forced them to, but because it’s better for the customer. Now it appears the wider world is catching up. Consider the clean personal care and beauty movement: a decade ago, “paraben-free” or “phthalate-free” skincare was a niche for wellness enthusiasts; today, it’s a fast-growing segment as mainstream consumers wake up to the fact that what you put on your body (lotion, shampoo, makeup) ends up in your body. Several of our portfolio companies in the beauty space have led with this ethos, using natural ingredients and disclosing every component – winning over consumers who are tired of needing a chemistry degree to decipher labels. Similarly, in personal care and apparel, we’ve supported brands using non-toxic, sustainable materials to reduce families’ daily exposure to harmful substances. These entrepreneurs often faced skepticism that safer products could match the performance or price of traditional ones – but they’ve proven that you don’t need to poison kids to make effective products.
What’s gratifying now is seeing policy potentially give these pioneers a boost. If the FDA and EPA begin clamping down on the worst offenders – like removing certain artificial dyes, limiting heavy metals in baby food, or banning toxic pesticides – it will close the gap between the market leaders who proactively went clean and the laggards who didn’t. In other words, brands that built trust through safety and transparency will have a competitive advantage as regulations catch up. And importantly, consumers are increasingly educated on these issues. The MAHA report itself, by drawing attention to things like PFAS in breast milk or lead in school water fountains, will likely spur a new wave of parental concern – and rightly so. Parents armed with knowledge demand safer products, and they reward companies that deliver. We’ve seen this dynamic time and again. Now, with the highest levels of government prioritizing children’s environmental health, I foresee a virtuous cycle: clear standards, informed consumers, and innovative companies working together to detoxify kids’ daily lives. That’s not anti-business – in fact, it opens the door to new business opportunities in green chemistry, clean tech, and product innovation. As investors, backing the companies that make healthy living easier is not just altruism; it’s aligning with the future of consumer demand. And as a parent of three young kids, I can’t help but be excited that my country might finally ensure that “child-safe” truly means safe enough for our precious children.
Sedentary Lifestyles in a Digital Age: Restoring Balance and Play
The third major pillar of the MAHA Assessment addresses a less tangible but equally impactful shift: the way our children move, play, and engage with the world. Over just a couple of generations, childhood in America has been transformed. Kids today are far more sedentary and screen-focused than any before them, and it’s taking a toll on both their physical and mental well-being. The report paints a vivid picture of this “crisis of childhood behavior in the digital age.” In short, we’ve gone from an era when kids spent afternoons riding bikes and playing tag in the neighborhood to an era where the average American child is largely sitting indoors, glued to glowing screens.
The data are frankly astonishing. On average, U.S. teenagers now spend nearly 9 hours per day on screens for entertainment (outside of schoolwork). Even younger children rack up serious screen time via tablets, TVs, and phones. At the same time, over 70% of children – and 85% of teens – fail to meet the recommended 60 minutes of daily physical activity. Think about that: the vast majority of our youth are not getting even an hour of moderate exercise a day. It’s no wonder that their fitness levels have declined; one global study noted significant drops in youth aerobic fitness over recent decades, correlating with this more sedentary lifestyle. And it’s not just about exercise – kids are also sleeping less (nearly 80% of high schoolers don’t get 8 hours of sleep a night, up from 69% in 2009) and experiencing more stress and loneliness. Social media and smartphones, while offering new forms of connection, have also introduced new stressors. In 2024, a staggering 73% of 16–24 year-olds reported feeling lonely, and 15% of young men in that age group said they had no close friendships – a fivefold increase since 1990. This is in the most “connected” era in history! Clearly, something has gone wrong in the way technology and modern life are interacting with our basic human needs.
The consequences are showing up tragically in mental health statistics. The MAHA report highlights that persistent feelings of sadness and hopelessness among high school students have surged from 28% to 42% in the decade from 2011 to 2021. Worse, rates of serious mental distress are highest among teen girls; over 1 in 4 teenage girls in 2022 experienced a major depressive episode, and teen suicide attempts have risen alarmingly. There are of course many factors in the mental health crisis, but experts increasingly link it to the decline of face-to-face social interactions, the pressures of social media, chronic sleep deprivation, and lack of physical activity. One striking finding: teens who use social media more than 3 hours a day double their risk of anxiety and depression, with each additional hour increasing depression risk by 13%. We’re essentially conducting a nationwide experiment on our children by immersing them in a digital environment during their formative years – and the early results indicate we’ve made some mistakes.
The good news is that children are remarkably resilient, and small changes can yield big benefits. The MAHA Commission urges a cultural course-correction: we need to help our kids rediscover movement, outdoor play, and in-person community. It means everything from ensuring schools have robust physical education and recess (and not cutting them for more screen-based academics), to designing neighborhoods that are safe for kids to bike and play outside, to guiding parents on setting healthy limits for screen time. It also means grappling with the reality that our digital products (social media platforms, video games, streaming content) are designed to capture attention and can be harmful when overused. Policymakers are starting to discuss guardrails – for instance, requiring platforms to have stricter parental controls or curbing addictive app features for minors. But while policy can support, much of this change will come from culture and choices at home and in the market. And here, I see a tremendous opportunity for innovators and entrepreneurs to step up.
We at Beliade have always believed that a healthy lifestyle encompasses not just what you eat, but how you live and play. That’s why our definition of “consumer health” investments goes beyond food and personal care to include sectors like fitness, recreation, and experiential wellness. We’ve backed companies that make physical activity fun, accessible, and appealing – effectively competing with screens for kids’ attention. For example, one of our portfolio companies creates immersive group dance workouts that feel more like a party than exercise, building social connection and fitness at once. Another is an outdoor gear and apparel brand that specifically aims to get American families outside together – whether it’s hiking, camping or just exploring local parks – by providing affordable, stylish, and sustainably made equipment. These businesses recognize that to “unplug” kids, you have to offer an enticing alternative. You can’t just tell a teen to drop the phone; you need to provide something as engaging as the phone. Fortunately, there’s nothing more engaging for a human (especially a young one) than real life adventure, play, and camaraderie. We’ve seen sports, outdoor activities, and hobby communities transform young lives – building confidence, reducing anxiety, and instilling lifelong healthy habits.
Beyond physical activity, we’re interested in the broader ecosystem of mental and emotional wellness for youth. This ranges from startups developing mindfulness and stress-reduction programs tailored for kids, to educational toys that encourage creativity off-screen, to platforms connecting parents with resources on navigating the digital world. One trend we find encouraging is the resurgence of interest in things like board games, crafts, and outdoor education – sometimes retro is revolutionary. Even major tech companies are recognizing they must integrate wellness (for example, apps that remind users to take breaks or sleep). The bottom line is, helping children find balance in a tech-saturated world is both a societal imperative and a promising area for innovation. Families are actively seeking solutions – be it a device that limits internet at bedtime or a local kids’ nature camp – and they’re willing to pay for what works. Entrepreneurs who understand this and design products or services that facilitate healthier habits can find a very receptive market.
From an investment perspective, the alignment with MAHA’s goals here is clear: a population that values physical activity and mental well-being will drive growth in sectors like fitness, sports apparel, outdoor recreation, wellness travel, meditation and counseling services, and even “unplugged” entertainment (watch how interest in things like escape rooms, live action games, and DIY kits has grown as people seek tactile experiences). We’re already seeing this in our portfolio’s performance – companies that enable active, social lifestyles have strong tailwinds. And now, with policymakers and educators beginning to advocate for the same outcomes, I anticipate even more support for businesses that get kids moving and reduce harmful screen exposure. This could mean grants for community sports programs, or insurance incentives for wellness programs, or simply a cultural narrative that celebrates the kid who climbs trees as much as the one who codes in Silicon Valley. In the 1990s, the rallying cry was “No Child Left Behind” academically; today, it might be “No Child Left Inside” – a push to reconnect children with the real world around them. The MAHA report has put this issue on the national stage. It’s up to all of us – parents, teachers, businesses – to answer the call and make childhood about exploration and growth, not just Wi-Fi and algorithms. I’m optimistic we can, because I’ve seen the spark in young people’s eyes when they discover the joy of physical play or the pride of mastering a real-world skill. That spark is priceless – and it’s the foundation of a healthier generation.
Overmedicalization: Rebalancing the Way We Care for Kids
The final theme of the MAHA Assessment touches a sensitive but crucial area: how we use medicine and medical interventions in children. Our nation is rightly proud of its medical breakthroughs – from life-saving vaccines to advanced therapies for once-deadly diseases. But paradoxically, despite these breakthroughs (or maybe partly because of them), we’ve slid into a pattern of overmedicalization – a tendency to throw pills and procedures at problems that might be better solved by addressing root causes or prevention. The report argues that American children are highly medicated – and it’s not solving the underlying issues. In some cases, it may even be creating new problems.
Let’s unpack that. When faced with rising rates of chronic conditions in kids, the health system’s reflex has often been to increase prescriptions. If more children are struggling with emotional regulation or attention, prescriptions for ADHD stimulants and antidepressants surge. If asthma and allergies are up, long-term medication regimens become common. If we see more behavioral issues, powerful antipsychotic drugs might be used off-label. Of course, medication can be absolutely necessary and beneficial for many children – this is not about rejecting medicine writ large. But the data suggests we’ve gone beyond what is judicious. For example, stimulant prescriptions for ADHD in U.S. kids increased 250% from 2006 to 2016 – a staggering rise – even though long-term studies indicate these drugs did not improve academic or life outcomes in the average child over time. Antidepressant use in teens skyrocketed 1,400% between 1987 and 2014, yet teen depression only worsened, suggesting that simply medicating the symptoms isn’t stemming the tide (and these medications can come with significant side effects in young people). Perhaps most striking, prescriptions of antipsychotic drugs for children (often to manage aggressive behavior or extreme ADHD symptoms) jumped 800% from the early 1990s to 2009, and most of those prescriptions were for uses not approved by the FDA in children – essentially an enormous uncontrolled experiment on our kids. Meanwhile, we’ve been dosing children with antibiotics to the point where one analysis found over one-third of pediatric antibiotic prescriptions are unnecessary. That’s millions of excess antibiotic courses, which not only can disrupt a child’s developing gut microbiome (potentially affecting immunity and even neurodevelopment) but also fuel the rise of antibiotic-resistant bugs. Early antibiotic exposure has been linked to higher risks of asthma, eczema, celiac disease, obesity, and yes, ADHD later in childhood – possibly because those drugs alter critical early biological balances.
These numbers aren’t about finger-pointing or vilifying any parents or doctors – everyone has been doing their best in a system that often incentivizes quick fixes and treating symptoms. If a child is struggling, of course we want to help them immediately – and medication can bring short-term relief. But the MAHA report is urging us to ask a deeper question: Why are so many kids unwell in the first place? And could our well-meaning interventions sometimes be making things worse in the long run? It cites, for instance, that despite the explosion in psychiatric medications, outcomes haven’t improved commensurately, and non-pharmacological treatments (like therapy for depression or behavioral interventions for ADHD) can be as effective with fewer downsides. It also points out that the growth of the childhood vaccine schedule (a sensitive topic, to be sure) coincided with the rise in certain chronic issues; the report stops short of claiming causation, but it flags the need for continual safety monitoring and research into how an expanding schedule might interact with other environmental factors. This is an area of active debate – and let me be clear, vaccines for infectious diseases have huge proven benefits. The real message here is about balance and rigorous science: do not accept a status quo where we simply keep adding more medications and injections to children’s lives without simultaneously demanding to know why so many need them now and whether there are alternative ways to reduce disease in the first place.
For those of us in the preventative health and wellness space, this is a welcome perspective. Our philosophy at Beliade has always been “prevent rather than cure whenever possible.” That doesn’t mean eschewing medicine – it means building lifestyles and communities where kids don’t develop certain problems to begin with or can manage them with minimal pharmaceutical intervention. When we invest in a company that makes a delicious low-sugar beverage or a stress-relief toy or a fun sports league, we’re ultimately investing in keeping kids healthy and resilient, so they won’t need as many pills down the line. And that’s not just idyllic thinking. Look at something like childhood type 2 diabetes or high blood pressure – these were virtually unknown in youth a few decades ago; now they’re reasons teenagers take metformin or even statin drugs. If we can get those teens exercising daily and eating better, many could improve without lifelong medication. Or consider attention issues: some portion of kids truly have neurodevelopmental disorders requiring medicine, but many others might be able to cope through smaller class sizes, more play, better diets, and less screen overstimulation – all things that reduce the need for a pill to sit still. The same goes for anxiety and depression: pharmaceuticals have their place, but so do exercise, adequate sleep, counseling, and social support, none of which come in a bottle from the pharmacy.
From an investor’s standpoint, the critique of overmedicalization signals a burgeoning space for alternatives that fill the gap between “do nothing” and “prescribe a drug.” We’re interested in those grey-area solutions: for instance, digital therapeutics that teach cognitive behavioral techniques to kids with anxiety, or nutritional supplements and specialized diets that can help address deficiencies or inflammation underlying some conditions. There’s a whole wave of startups focusing on gut health, recognizing the microbiome’s role in immunity and even mood – potentially reducing things like allergies or depressive symptoms without pharmaceuticals. The resurgence of interest in functional medicine (which looks holistically at lifestyle factors) and in personalized health tracking (like wearables that can alert parents to early signs of issues) are also part of this puzzle. These are areas ripe for innovation and investment, precisely because the traditional healthcare system hasn’t solved them with a prescription pad approach.
It’s worth noting the report also touches on why overmedicalization happened – citing “perverse incentives” and corporate capture in our health agencies. The reality is, chronic illness can be profitable for industries that sell treatments; there’s less money to be made in prevention. While I won’t dive deep into that here, I will say that as a funder of consumer-facing companies, we often see how nimble startups with an innovation mindset struggle to get attention. So it’s refreshing to hear leaders in Washington openly acknowledge that imbalance and talk about correcting it. Imagine a healthcare landscape where insurers and public programs actively invest in prevention and lifestyle support – perhaps covering health coaching, gym memberships, or even produce prescriptions. That might sound far-fetched, but a few pilot programs have done exactly that and seen health improvements. If our nation starts valuing health outcomes over healthcare inputs, it bodes extremely well for anyone building businesses around keeping people well. And that’s exactly the thesis we’ve been pursuing.
In summary on this point: the MAHA report validates the importance of a holistic approach to child health, one that doesn’t lean on medication as the first and last solution. It’s about empowering families with knowledge, healthy products, and supportive services so that fewer kids get sick, and those who do have multiple avenues to recover and thrive. That philosophy is at the core of so many brands we invest in – from natural remedy companies to fitness platforms to educational content on wellness. We’ve always believed that parents want the best for their kids, and given the right options, they prefer to address problems at their root (improving diet, reducing stress, etc.) rather than just papering over symptoms. Now it seems that belief is gaining traction nationally. As someone who invests with a view of 5, 10, 20 years out, I see the pendulum swinging away from the “a pill for every ill” mindset toward a more balanced future of healthcare. And I’m convinced that the businesses enabling that future will not only do well for themselves, but also do immense good for society.
Investing in a Healthier Future: MAHA Validates Our Strategy
Reading the MAHA Assessment, I was struck by a simple revelation: the themes in this report could have been lifted from Beliade’s investment memos over the years. That is to say, the very areas that the White House is now prioritizing – healthier nutrition, reduced toxins, active lifestyles, and preventative wellness – are the areas we’ve been investing in since our inception. This wasn’t by accident. When I founded Beliade Consumer Partners a decade ago, it was with the conviction that supporting brands which help American families live healthier, more fulfilled lives would create lasting value. At Beliade, we back “Modern Brands for Healthier Americans” – companies enabling cleaner, more intentional living across food & beverage, personal care, beauty, fitness, family products, and beyond. The logic was both heartfelt and business-smart: heartfelt, because I genuinely care about the wellbeing of the next generation (I’m not just an investor, I’m a parent myself, an uncle, a mentor); business-smart, because I anticipated a cultural shift where consumers would increasingly demand health and transparency, creating huge opportunities for companies that could meet those needs.
What’s remarkable is how that cultural shift has accelerated and broadened. If you had told me in 2015 that one day a U.S. President would be trumpeting the dangers of ultra-processed food or calling out chemical lobbyists, I might have been skeptical. Now in 2025, here we are. The highest levels of government are essentially echoing the mission statements of the startups we’ve been nurturing. For our investors and partners, this should be seen as a resounding validation. It means the wind is firmly at our backs. The ideas once considered “niche” or “nice-to-have” in consumer products – e.g. organically sourced ingredients, non-toxic manufacturing, local supply chains, mental wellness integration – are now acknowledged as national priorities. That has profound implications for market growth, regulatory environment, and consumer adoption in the sectors we focus on.
Consider how these themes reinforce the companies we support:
Clean, Whole Food and Beverage: The push to reduce childhood obesity and diabetes by cutting sugar and ultra-processed intake will bolster brands offering healthier snacks, beverages, and meal options. We expect initiatives from government (like potential sugar taxes or stricter labeling) as well as schools updating cafeteria menus. Companies in our portfolio that use whole foods, natural sweeteners, and high nutritional value in their products will likely see even greater demand. Frankly, many of these brands have been ahead of their time – using, say, chickpea flour instead of refined wheat, or monk fruit instead of corn syrup. As public awareness catches up, these better-for-you products can move from the specialty aisle to the center of the supermarket. We’ve already seen some of our brands gain placement in major retail chains as buyers respond to consumer calls for healthier options. Now imagine that trend multiplied by a national campaign for child health. It’s a rising tide that can lift a lot of boats.
Non-Toxic, Transparent Products: From baby bottles to bedding to shampoo, parents are scrutinizing what comes near their children. The MAHA report’s focus on environmental chemicals will only amplify this scrutiny. That favors companies with transparent supply chains and rigorous safety standards. In our portfolio, those making “clean label” personal care, household cleaners with food-grade ingredients, toys made of natural materials, and clothes free of harmful dyes stand to gain trust and market share. Retailers might start to enforce new standards (we’ve seen some big box stores create “clean” sections or ban certain chemicals across all products they sell). Brands that have already done the hard work of reformulating away from suspect chemicals will be the first in line for those shelves. Moreover, as regulatory bans come into play (say on certain PFAS or flame retardants), there could be forced turnover in product assortments – an opening for younger companies with compliant formulas to replace legacy ones. In short, the competitive advantage of being safe and eco-friendly is about to get even bigger.
Active Lifestyle and Family Experiences: The call to unglue our kids from screens and get them moving again is a cultural movement that benefits a broad range of businesses. Think of youth sports programs, outdoor recreation gear, interactive fitness gaming, family travel and adventure experiences, even bicycle and scooter manufacturers – all are part of the solution. Our investments in fitness apparel, at-home exercise platforms, and outdoor equipment align perfectly here. We foresee partnerships and endorsements – maybe the Department of Education works with ed-tech companies to incorporate movement into virtual learning, or public health grants support community play spaces. When the First Lady is (hypothetically) planting a garden and urging kids to play outside, it uplifts the entire “active childhood” economy. One of our companies, which sells innovative play-set equipment, reported that their sales spiked during COVID lockdowns when parents desperately sought non-digital entertainment for kids. That showed that when pushed, families will invest in physical play. Now, with MAHA pushing it, we anticipate sustained interest in products that make healthy activity convenient and fun. As investors, we’re not only backing products but often also communities and content – for example, a fitness brand that also provides online support groups for teens. These ecosystems create loyalty and network effects that are hard to replicate by outsiders. The more society encourages fitness and social play, the stronger those ecosystems become.
Mental Wellness and Balance: An often-overlooked aspect of consumer health is mental health. The MAHA report, in spotlighting loneliness and depression, effectively says: emotional well-being is part of overall health. We agree. Brands that can authentically support mental wellness will win hearts. This could range from a tea company that emphasizes relaxation rituals, to a tech device that helps teens disconnect at night, to content platforms providing therapy or coaching in accessible ways. In our portfolio, several companies integrate mental wellness into their core values – like a beauty brand that promotes positive body image and self-care, or a snack brand that partners with mental health nonprofits. These aren’t gimmicks; they resonate deeply with consumers who want to feel good inside and out. As the stigma around mental health fades and it becomes normal to “work on your wellness,” we see revenue growth in areas like meditation apps, stress-relief products, and educational services for emotional intelligence. Even employers and schools are investing more in these areas, which can expand B2B2C opportunities for some of our companies.
Preventative Healthcare and Tech Integration: Lastly, bridging the gap between consumer wellness and traditional healthcare is an area of huge potential. The Commission’s report hints at things like harnessing AI for real-time health surveillance and closing research gaps. We interpret that as an opening for innovative consumer health tech – wearable devices that catch early signs of issues, home testing kits for nutrition or toxins, personalized coaching apps that adapt to your data. We haven’t touched on it much yet, but we have our eyes on startups that provide these kinds of insights directly to families. Imagine a smart home device that filters your air and also reports if pollutant levels spike, or a personalized multivitamin subscription based on monthly blood tests you do at home. These might have seemed futuristic, but the urgency of the problem is accelerating adoption. We have the infrastructure (smartphones, IoT, AI) to empower individuals with information once only available at a clinic. For Beliade, whose ethos is empowering consumers, this is a thrilling frontier – and one where I expect increased government interest in public-private partnerships. After all, if the NIH or CDC wants to track childhood health metrics in real time, what better way than partnering with the makers of popular health wearables or apps (with proper privacy safeguards)? As an investor, connecting those dots early is key.
Stepping back, it’s clear that the MAHA report has essentially thrown down a gauntlet to industry: “Innovate and help us fix this.” And in true American entrepreneurial spirit, I believe many businesses (both big and small) will rise to the challenge. We certainly plan to be at the forefront of funding and guiding those innovators. It’s not about chasing a fad; it’s about being part of a historic realignment of consumer priorities. For years, perhaps the wider market undervalued companies that prioritized social good like health or sustainability – seeing them as “nice but not necessary.” That is changing. As one of our early investment theses held, the next generation of consumers will vote with their wallets for health, sustainability, and authenticity. That’s proving true. Now add another powerful voter – the government – aligning its incentives (grants, subsidies, regulations) towards health outcomes, and you have a robust coalition driving change.
To our investors, I’ll say this plainly: the findings of the MAHA report validate the core of Beliade’s long-term strategy. We don’t need to pivot or reinvent our approach; we need to double down. The very same qualities we’ve been looking for in portfolio companies – clean ingredients, strong ESG principles, positive lifestyle impact, transparency – are about to become even greater assets. And for companies that lack them, headwinds are coming. This doesn’t mean everything will be smooth or that every policy that comes out will immediately benefit each business (there will be debates, adjustments, and probably some overreach here or there). But the direction is set. We have entered an era where “doing well by doing good” is not just a slogan, but an attainable business model at scale.
Beliade has been a thought leader in this space, and with your support, we’ve built a portfolio that exemplifies these ideals. We’ve shown that investing in consumer health doesn’t mean sacrificing returns – in fact, many of our companies are outperforming industry benchmarks. That’s because we anticipated where demand was heading. Now, with MAHA shining a spotlight on these issues, I anticipate an even bigger surge of consumer interest and capital inflows into “healthy living” sectors. It’s an exciting time to be doing what we do. It’s also a humbling time, because the stakes are high – we’re not just talking about dollars, but about kids’ lives and futures.
Where We Go from Here
In closing, I want to share my personal sense of gratitude and determination at this moment. Gratitude that the challenges I care so deeply about – healthy food, safe products, active living, balanced healthcare – are finally receiving the national attention they deserve. Determination to ensure that this attention turns into sustained action and positive change. The MAHA Assessment is, essentially, a beginning. It’s the opening chapter in what could become a renaissance in children’s health and wellbeing in America. But reports alone don’t solve problems; people do. It will take all of us, from policymakers to parents, CEOs to school principals, to carry this momentum forward.
As an investor, I often think in terms of trends and strategies, but I’m ultimately moved by stories. In recent years I’ve heard too many stories of young kids with adult diseases, of teens in mental anguish, of families overwhelmed by navigating health issues. It’s easy to feel disheartened. But then I also meet the founders and creators offering solutions – the mom who started a chemical-free baby care line because her child had asthma, or the fitness coach who launched a program for kids with anxiety to build confidence through sport, or the farmer revitalizing soil to bring nutrient-dense produce to food deserts. These people inspire me. They are the doers and problem-solvers, and supporting them is the honor of my life. With MAHA’s findings validating their missions, I believe they will find open doors and open minds in places that were previously hard to reach.
Throughout this transition, I intend for Beliade to stay ahead of the curve and true to our values. For years, I’ve believed – often quietly, sometimes contrarianly – in the long-term value of whole foods over fast foods, of natural ingredients over synthetic shortcuts, of active play over passive consumption, and of prevention over pills. It’s deeply encouraging to see those convictions now echoed in the national dialogue. That mindset will continue to shape how I invest, how I support founders, and how I evaluate risk and opportunity in the years ahead. We will remain disciplined but also bold in seeking out the next generation of great American brands – brands that not only thrive in the market but also tangibly improve people’s quality of life.
I won’t claim to have all the answers on how to reverse something as vast as the childhood chronic disease crisis. But I do believe that operating with urgency, clarity, and a long-term view is the right playbook, in both investing and social change. That’s the approach I’m taking – both personally and professionally – as we navigate these challenges alongside our entrepreneurs and partners. Change won’t happen overnight, and there may be skeptics and setbacks. But the direction is clear: America is waking up to the health of its children, and there is no more important work than making that health a priority.
Thank you, as always, for your trust and partnership. Together, we have a chance not just to build great companies, but to build a better future for the next generation of Americans. And I can’t think of a more worthwhile investment than that.
Sincerely,
Martin Dolfi
Founder & CEO
Beliade Consumer Partners
Disclaimer, Citations, and References: The opinions expressed in this letter reflect my personal views and assessments. They are not necessarily shared by all team members at Beliade Consumer Partners and should not be interpreted as the official position of the firm. This letter was prepared with the assistance of advanced AI tools for research and drafting. This letter is not intended to solicit or facilitate the sale or purchase of securities in any jurisdiction where such activities are unauthorized, or to any individuals where such transactions would be unlawful. Please note that Beliade Consumer Partners does not provide legal, tax, or accounting advice. Copyright © 2025 Beliade Consumer Partners. All rights reserved.
1. MAHA Report – Chronic Disease Crisis: “Over 40% of the roughly 73 million children (aged 0-17) in the United States have at least one chronic health condition… all studies show an alarming increase over time.” (White House Make Our Children Healthy Again: Assessment, as quoted in Fox News Digital). “Over 75% of American youth (17–24) are ineligible for military service—primarily due to obesity, poor physical fitness, and/or mental health challenges.” (MAHA report, via Fox News).
2. Health Spending vs Outcomes: “Despite outspending peer nations by more than double per capita on healthcare, the United States ranks last in life expectancy among high–income countries and suffers higher rates of obesity, heart disease, and diabetes.” (MAHA report introduction, via Gizmodo).
3. Rise in Childhood Conditions: Key indicators of the crisis include: Childhood obesity – more than 1 in 5 U.S. children over age 6 are obese (a 270% increase since the 1970s); Adolescent pre-diabetes – now affecting over 1 in 4 teens, more than double the rate 20 years ago; Childhood cancer – incidence up nearly 40% since 1975; Autism spectrum disorder – now ~1 in 31 children by age 8; Teen mental health – persistent sadness/hopelessness among high schoolers up from 28% to 42% between 2011 and 2021, with 1 in 4 teen girls experiencing major depression in the past year.
4. Ultra-Processed Diet Impact: “Most American children’s diets are dominated by ultra-processed foods (UPFs) high in added sugars, chemical additives, and fats… now account for over two-thirds of all calories consumed by American children.” (MAHA report Section 1). Between 1997 and 2018, childhood food allergy prevalence rose 88%, and celiac disease rates increased 5-fold since the 1980s, indicating dietary and environmental shifts.
5. Food System Structure: “UPFs are built into the fabric of post-World War II American society… decades of policies have undermined the food system and perpetuated delivery of unhealthy food to our children.” (MAHA report). Today only 16¢ of every $1 spent on food goes to farmers, while 84¢ goes to processors, marketers, and distributors – reflecting consolidation. “A small number of corporations control a large share of food production… Many core products of ‘Big Food’ companies are UPFs.”.
6. SNAP and Nutrition: Children on food assistance programs often have worse diet outcomes. “Children receiving SNAP benefits are more likely to consume greater quantities of sugar-sweetened beverages and processed meats… nearly twice as much will be spent by SNAP on UPFs and sugary drinks…”. These children face higher risks of obesity and diet-related disease, highlighting policy gaps.
7. Environmental Chemical Exposures: “American children’s exposure to environmental chemicals – the cumulative load of thousands of synthetic chemicals in the food they eat, water they drink, air they breathe – may pose risks to long-term health, including neurodevelopmental and endocrine effects.” (MAHA report Section 2). Kids are regularly exposed to heavy metals, PFAS, pesticides, and phthalates via diet, textiles, air, and products. “High levels of certain PFAS exposure have been associated with immune suppression and cholesterol changes in children.”. The EPA in 2025 announced first-ever national drinking water standards for PFAS compounds.
8. Food Additive Reforms: The FDA (2025) is moving to eliminate petroleum-based artificial food dyes, e.g. phasing out synthetic dyes like Red No. 40, Yellow No. 5, etc., and fast-tracking approval of natural color additives. This follows evidence linking certain food dyes to behavioral issues in sensitive children and aligns U.S. policy with other nations’ stricter standards.
9. Digital Lifestyle & Inactivity: “Over the past four decades, American children have transitioned from an active, play-based childhood to a sedentary, technology-driven lifestyle, contributing to declines in physical and mental health.” (MAHA report Section 3). On average, U.S. teens have ~9 hours/day of non-school screen time, and 70%+ of kids (85% of teens) do not get 60 min of daily physical activity. Nearly 80% of teens don’t get 8 hours of sleep nightly (up from 69% in 2009). “Persistent sadness and hopelessness among U.S. high school students surged from 28% to 42% between 2011 and 2021… girls’ suicidal ideation rising 58%.”. Social media use >3 hours/day is linked to double the risk of teen depression and anxiety, with each additional hour increasing depression risk 13%.
10. Overmedicalization of Youth: “The health system has responded to increases in childhood chronic disease with increasing rates of drug prescriptions, which may cause further harm when used inappropriately… American children are highly medicated – and it’s not working.” (MAHA report Section 4). ADHD stimulant prescriptions in youth rose 250% from 2006 to 2016, even though long-term studies show no lasting academic benefit. Antidepressant prescriptions for teens jumped 1,400% between 1987 and 2014, yet teen depression rates kept climbing. Antipsychotic prescriptions for children increased 800% from 1993 to 2009 (mostly off-label use). Studies find over 35% of pediatric antibiotic prescriptions are unnecessary (15+ million excess scripts a year), and infants who receive antibiotics in the first 2 years of life have higher odds of developing asthma, allergies, obesity, celiac disease, and ADHD later on.
11. Addressing Root Causes: Officials emphasize a shift to prevention. “We will end the childhood chronic disease crisis by attacking its root causes head-on — not just managing its symptoms… pursuing truth, embracing science, and driving bold policies that put children’s health first.” (HHS Secretary R.F. Kennedy Jr.). The MAHA Commission will follow this assessment with a comprehensive Strategy (due 82 days after the report) focusing on gold-standard research, policy changes, and cross-agency action to reverse these trends. Steps already hinted include overhauling food and agriculture subsidies, stricter chemical safety oversight, expanding school wellness programs, and improving research integrity (reducing corporate bias in science).