What do the Grateful Dead and birdwatching have in common?
Probably just this week's newsletter? From private equity Dead deals to twitcher road meals.


CFState U: Happy Fall Equinox. On Saturday I saw my first spawning salmon this season. We were on a family hike along a tributary of the Sandy River, and I could have stayed watching the fish all day.
We've got an extra-special newsletter this week, with the lead story taking a closer look at the relationship between outdoor brands, private equity, and the Grateful Dead.
I've been thinking for a few years now: About what might become of storied wader brand Simms now that it's part of a global private equity grab bag. And, well, when I saw its latest marketing campaign, everything came together like a well-oiled Drums/Space.
Read on to learn all about how private equity has come for a favorite fishing brand. Then, when you need a timeline cleanse, watch LISTERS.

One to watch: LISTERS
It's only been out about a month, but DIY feature-length documentary LISTERS: A Glimpse Into Extreme Birdwatching is nearing a million views on YouTube and melting hearts all over the world with sweet birdsong.
It's the story of two brothers who get a wild hair up their ass and decide to become birdwatchers. And not just any kind of birdwatchers: They move into their minivan and try to find as many species in the Lower 48 as they can over the course of a year.
It's an incredibly enduring portrait of obsession, of seeking, of finding. And not necessarily finding what you're seeking. It's also a technically-sound film, blending on-the-road reportage and slice-of-life with brilliant bird photography and a narrative exploration of what drives individuals in this intriguing subculture.
For me, the parallels with fly fishing are obvious, and the concluding message (no spoilers!) resonates. I think if there were hundreds of different species of fish inhabiting the space that occupies 98% of our visual field, I'd probably be content with watching them swim around up there in the air. It's perhaps only because I can't breathe underwater comfortably that I angle.
I know a few readers are birders. The crossover is strong. Give me a shout if you enjoy LISTERS, I'm cooking up some fly fishing and birdwatching crossover articles and I'd love your input.
Speaking of long drives!
Like brothers Quentin and Owen of LISTERS, we're driving to spot this mystery fish in September, looking for 8 more readers to step up and join the CFS Explorers tier. Thanksโand welcome!โto the two folks who answered the call last week!
Join the inner circle and helping fund equipment like our classroom Photarium. Just two more fish-sections need to be revealed before contest entries are open. I picked up the prize this weekend and it's pretty good.

Interested in joining the crew that makes this possible?
That's it for this week! Current Flow State is a weekly newsletter from me, Nick Parish.
You can direct your Dead puns to Bluesky ๐ฆ, Instagram ๐ธ, YouTube ๐ฅ, and the Fishcord ๐ฌ.
If you enjoyed this, please share it with a friend. We all need more fishing buddies. ๐
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