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Loved seeing quadratic curves after a long time since 10th standard. There are multiple overarching themes here, but one key thing is incrementality and diminishing but positive returns 1. Growth flattens over a multi year period. Only way to arrest is, new Geo or new products, new channels of distribution. This requires capital of initial product success 2. Marketing campaigns are also layered. Need experimentation and data over period of time to pull back and change.

@Sid This is not just true in marketing but in every area of business in today's world. Product-market fit is also not a one time event (as many would think) but a moving goal post, so is market-channel fit, so is channel-messaging fit and so on.

One example is how FW scaled. They just kept adding more products, then geos and now channels. Very interesting case study.

Anybody worth their salt in growth has always said that no gains last forever and will always decay at some point not of your choosing. This is why you always have to be testing for new opportunities (apply 80/20 role for maximizing what's working/hunting for what's next). Excellent to see data supporting it - maybe fewer people will ask for a silver bullet or wish for "we just need to go viral"...