CREATIVE IS THE BOTTLENECK OF MODERN USER ACQUISITION

Summary from the TLDR Founders newsletter

User acquisition is no longer constrained by bids, targeting, or channels. It's constrained by creatives. High-spend advertisers don't win because they're more creative - they win because they produce, test, kill, and refresh at a speed most teams can't match. Creative fatigue isn't a vague feeling either. CTR goes down, CPI goes up, and by the time teams align internally, the winner is already dead. Once you scale beyond a few hundred thousand in monthly spend, creative management stops being a creative problem and becomes an infrastructure problem.