Rapid Response: The trampoline effect, w/ Morning Brew CEO Alex Lieberman

Diversification

Alex Lieberman, CEO of Morning Brew, reflects on the critical lesson of revenue diversification learned during the economic downturn. Despite their advertising business thriving, the pandemic highlighted the risks of relying on a single revenue stream. Lieberman emphasizes the importance of making long-term bets to protect the business in down markets, even when it feels inconvenient. He shares, "One big learning was, it's never going to feel good or convenient or the right time to divert resources to start a new business...but you're just making a long-term bet." 1

   

Adaptation

Morning Brew faced significant revenue challenges as advertisers withdrew during the pandemic, prompting Alex Lieberman and his team to explore alternative revenue models. They considered various options, from subscription models to educational courses, to sustain the business. Lieberman notes the resilience of their audience, stating, "While we did experience this scary moment of advertisers not knowing what was going on, once they decided to flick the light switch back on...there was kind of this flight to quality." 2