📄 Article
Free
Intermediate
The Law of Shitty Clickthroughs
From andrewchen.com by Andrew Chen ~8 min read
Why we picked it
The definitive explanation of why every marketing channel decays over time, from an a16z general partner who wrote 650+ essays on growth.
- Over time, all marketing channels drift toward terrible click-through rates.
- Banner CTR fell ~1500x from 1994 to 2011 as novelty and arbitrage disappeared.
- Win by refreshing creative and finding the next under-priced channel early.