Rowan Cheung

Top 5 learnings growing The Rundown to 3.5M total active subscribers and 55%+ open rate: 1. Email is its own platform, treat it like YouTube, Instagram, Twitter Super readers (open every email, click ads, and stick around for years) genuinely like email as a medium. We have millions of readers who don’t use social media. Best way to acquire them is through other newsletters, referrals, or being the reason they stop using social media. Barely anyone is building for this audience. I’m more bullish on email than any other platform (long-form YouTube is a close second). 2. The newsletter industry lacks innovation Look at mobile apps, ecom, edtech. Custom quiz onboarding, a landing page for every ad, hundreds of new creatives a day. Meanwhile most newsletters, including some of the biggest in the world, have a basic landing page and standard onboarding. We built an onboarding quiz funnel that, at one point, got us close to negative CAC with hundreds of thousands a month in ad spend. That’s what let us scale aggressively and outbid competitors. With AI coding and platforms like beehiiv, there’s no excuse not to build new experiences for your readers. The opportunity here is wide open :) 3. Newsletter sales is mostly an education problem We still run social partnerships at a significantly higher CPM than our newsletters, yet the newsletters convert better and get way more clicks. A lot of advertisers don’t understand newsletters as they do with influencer marketing, so at scale it becomes an education game. Once advertisers get it, they stay. We’ve been booked out at multiple ads a day for the last 3 years, months in advance. 4. Stay lean, fast, aggressive Other newsletters have built large sales and content teams. I think it’s better to stay small and pay high-quality people to do very good work. Revenue can increase with more employees, but the opportunity cost of not moving fast in the AI era is a long-term net negative. For example, we constantly test new growth experiments and new forms of media. Most don’t work and that’s fine. The point is we can pivot the same day because we're lean. 5. Lastly, don’t listen to people who say email is dead or that you shouldn’t run paid ads. That’s ignorance and lowkey skill issue.