Lenny's PodcastWhen to invest in new acquisition channels | Adam Grenier (Uber, MasterClass)
Lenny Rachitsky and Adam Grenier on when, Why, and How to Bet on New Growth Channels.
In this episode of Lenny's Podcast, featuring Adam Grenier and Lenny Rachitsky, When to invest in new acquisition channels | Adam Grenier (Uber, MasterClass) explores when, Why, and How to Bet on New Growth Channels Lenny Rachitsky interviews growth and marketing leader Adam Grenier about choosing and testing emerging acquisition channels, defining the modern “growth CMO,” and navigating burnout and depression in high-growth tech careers.
At a glance
WHAT IT’S REALLY ABOUT
When, Why, and How to Bet on New Growth Channels
- Lenny Rachitsky interviews growth and marketing leader Adam Grenier about choosing and testing emerging acquisition channels, defining the modern “growth CMO,” and navigating burnout and depression in high-growth tech careers.
- Adam shares a three-part framework for deciding whether to invest in new channels (like TikTok, OTT, influencers, Clubhouse), emphasizing channel–customer–company fit, channel maturity and incentives, and a startup’s own capabilities and risk profile.
- He argues most product-led companies need CMOs who are deeply data-driven, experimentation-minded, and tightly integrated with product, rather than traditional campaign-first marketers.
- They close with an honest discussion of mental health, how to distinguish burnout from depression, and practical practices—therapy, community, introspection—to build a sustainable career in tech.
IDEAS WORTH REMEMBERING
5 ideasValidate channel–customer–company fit before chasing any ‘hot’ platform.
Assess whether the channel’s strengths (e.g. audio, video storytelling, hyper-targeting) meaningfully overlap with your customers’ needs and your business goals; a channel can be popular yet still be a poor use of your time.
Study a channel’s DNA—maturity, stability, and monetization—to size the risk.
Early-stage channels change rapidly, break often, and may disappear; understanding where they are in their lifecycle and how they plan to make money helps you decide how much to invest and how to partner with them.
Match your experimentation ambition to your company’s capacity and foundation.
Most teams should only lightly test new channels (e.g. a “half person” for a quarter) until they have core channels like Google and Facebook reasonably working, and should rarely let a speculative bet consume the whole roadmap.
Look for directional momentum, not perfect attribution, when testing new channels.
Early experiments are about “fishing” for signs of traction—growing room sizes, improving engagement, cheaper installs—not statistically perfect models; if you see no directional improvement within a quarter, pause and reallocate.
Re-evaluate product–market fit whenever the broader market shifts.
Economic or contextual changes can invalidate yesterday’s product–market fit; assuming you still have it and trying to ‘fix’ growth with a new channel is dangerous if your underlying customer and value proposition have shifted.
WORDS WORTH SAVING
5 quotesStart by assuming you no longer have product-market fit.
— Adam Grenier
If you just assume you need to launch a new channel to fix this problem, you’re going to be wrong.
— Adam Grenier
Most companies are still operating as if product and marketing are two wildly different things.
— Adam Grenier
A growth CMO looks at every brand investment as, ‘How do you immediately follow that up with the next one?’
— Adam Grenier
When you start looking for ways to minimize the challenge, that’s a pretty good signal there may be more burnout than just exhaustion.
— Adam Grenier
QUESTIONS ANSWERED IN THIS EPISODE
5 questionsHow can a startup quantify and compare the opportunity cost of a new channel test versus doubling down on existing channels?
Lenny Rachitsky interviews growth and marketing leader Adam Grenier about choosing and testing emerging acquisition channels, defining the modern “growth CMO,” and navigating burnout and depression in high-growth tech careers.
What practical steps can a traditional brand-focused CMO take in their first 90 days to become more of a ‘growth CMO’ in a product-led company?
Adam shares a three-part framework for deciding whether to invest in new channels (like TikTok, OTT, influencers, Clubhouse), emphasizing channel–customer–company fit, channel maturity and incentives, and a startup’s own capabilities and risk profile.
How might the “assume you lost product–market fit” mindset change our current roadmap and marketing plans in this macro environment?
He argues most product-led companies need CMOs who are deeply data-driven, experimentation-minded, and tightly integrated with product, rather than traditional campaign-first marketers.
In what ways can teams build healthier norms around discussing burnout and depression before they reach crisis levels?
They close with an honest discussion of mental health, how to distinguish burnout from depression, and practical practices—therapy, community, introspection—to build a sustainable career in tech.
How can B2B or enterprise companies thoughtfully leverage consumer-style channels like influencers, podcasts, or TikTok without wasting effort?
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