Everything Raman Malik said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Malik: Paid acquisition is a drug that underperforms on user retention
“Paid acquisition is a total drug. It makes everyone feel good because top of funnel numbers move up, and once you see those, you know, weekly activation rates, well, no one wants to see that go down. But it's going to underperform on retention, and maybe most …”
Malik: Turning off Lyft's paid channels reduced signups by only 5-10%
“And so the growth marketing team turns off every single paid channel and installs and signups barely move. They go down by like maybe five, 10%. I don't remember what it was and what did go down. It was all Low quality. So every marketing dollar that was being…”
Malik: AI companies must focus on concrete utility rather than AI buzzwords
“You need to abstract away this whole AI piece and just go straight to the value prop of get answers immediately backed by sources.”
Malik: Perplexity does not have a dedicated marketing department
“What's cool about Perplexi is we don't have a marketing department.”
Malik: Perplexity's ultimate target is competing directly against Google
“I think search is a massive market to go after, and so if there's somewhere we want to live, it's going up against the big guy.”
Malik: Apple privacy changes killed Meta ads as a core scaling channel
“I mean, I think especially with all the latest Apple changes, I don't know how anyone is going to make Instagram or Facebook ads efficiently work at scale as like a core growth channel.”
Malik: Lyft overestimated product iteration potential and hit diminishing returns early
“We overestimated how much better we could make the ride sharing product. I think we started to hit, like when you look at ride sharing four or five years ago versus today, how much has the product changed? Not that much. So if you don't believe, well, sorry, i…”
Malik: The majority of AI value will emerge at the application layer
“When I joined Perplexity and was writing out my pro-con list, I think the one that was, like, up there was, like, can the application layer capture and monetize value? And, or is it all just, you know, one big pass through cost? And now, you know, fast forward…”
Malik: Most people in the tech industry absolutely hate MBAs
“MBAs have such an interesting reputation in tech. Most people just absolutely hate them.”
Malik: Invest in growth teams after reaching 30% month 3-4 retention
“As soon as you see that you have early signs in retention, like we're seeing like, you know, if you see 30% retention in month three or four, you have the kindling in your fire where it is now worth it to go put gasoline on it, go make that investment.”
Malik: Big tech runs A/B tests primarily to justify performance reviews
“And then the ugly is I'm running an AB test. So that I can put something in my performance review about a number I moved, or I can like say something to my manager. And you see that as companies get bigger, right? We're running A-B tests just to like be able t…”
Malik: Organic word of mouth drives 80% of Perplexity's growth
“Word of mouth, yeah. About 80%.”
Malik: Non-social consumer apps should aim for 45% month-six retention
“I think it was like by month six, you want 45% is really, really, really good. That's the target, right? That's where I want to push to, especially when you're not a social product that has more of like that smile retention curve.”
Malik: Perplexity is completely unoptimized for driving user subscriptions
“Like you look at perplexity, it is completely unoptimized for driving subscriptions.”
Malik: Perplexity caps ad testing spend at $10,000 per week
“Not much at all. You don't need to spend much to really understand what that retention is going to look like. 10 K a week.”
Malik: Growth strategy requires being first to a channel or significantly better
“There's no middle ground. If you're not first, it literally just means your only other option is to just be a lot better than everyone else. And that's like where we need to hold ourselves to.”
Malik: Former founders make better growth hires due to high risk tolerance
“We have a lot of founders here, and I think the best part about hiring founders is that They are much more comfortable at taking very big swings and being willing to fail. Like it is by nature. If you're going down the founder path, you have to be a little bit…”
Malik: Removing experiment guardrails drives company-wide bold thinking
“I mean, you don't want to put guardrails over their ability to experiment and try different things. Guardrails is going to hurt everyone. It's going to make everyone think a little bit smaller. You remove those guardrails. Everyone's thinking big.”
Malik: Perplexity requires take-home assignments for every growth role candidate
“I do for every, every role. It's a big ask, so I am cognizant of trying to keep it well scoped.”
Malik: Needing a detailed onboarding document signals a bad hire
“My rule of thumb is if they truly need an onboarding doc, we're in trouble.”
Malik: Employees quit bad teams, not bad managers
“People say that, you know, they quit the manager, not the company. Like, I think people quit the team.”
Malik: Third-party endorsement and product bundling beat direct marketing
“We can go out and scream from the mountaintops about perplexity, but it is a lot better when someone else is telling you to use it, or it is being bundled into an existing product of yours.”
Malik: Users need three to seven product exposures before trying it
“You need someone to hear about your product three to seven times before they're going to give it an honest trial.”
Perplexity's key activation metric is three queries in a user's first session
“If I can get a user from perplexity specifically to three queries in that first session. Well, now I know I'm really onto something.”