635: The Meta Ads System Working in 2026 | Nick Shackelford

Nick Shackelford has spent hundreds of millions of dollars profitably on Meta ads and grown Structured from zero to $76 million in revenue in under three years. And he's here to tell you this clearly: Meta isn't broken. Most founders are just reading the wrong signals. In this interview, the co-founder of Structured Agency and partner at BREZ breaks down what actually matters in 2026. From why testing more ads is often making performance worse to the exact point when Meta advertising stops being a media buying problem and becomes a business model problem, this is the operator's playbook for Meta ads from someone managing millions in spend across real accounts right now. Nick also reveals the new community he's building with Foundr to help founders master the numbers and build marketing strength in-house. What you'll learn in this interview: • Why the 2019-2021 Meta playbook is actively hurting performance in 2026 • Which metrics are misleading founders and how to read the right signals • How Meta's AI tools (Andromeda, Lattice, Gem) have changed campaign structure • Why testing more ads can destroy performance instead of improving it • The exact dashboards and numbers you need to scale with confidence • How Nick grew Braze from zero to $76 million in under three years • Why ROAS is either the best metric or the worst metric depending on how you use it • The difference between agency knowledge and operator knowledge • How to calculate true CAC including product costs, shipping, and team expenses • Why in-house teams outperform agencies when built correctly • What it means to be an operator versus a visionary founder By the end of this episode, you'll understand how to navigate Meta's 2026 algorithm changes, which metrics actually predict profitability, and how to build the in-house marketing strength that lets you scale confidently without burning cash on guesswork. And if you want to work with Nick and the foundr team within our Operators Membership head to https://foundr.com/operators to join the waitlist. If you're running Meta ads, working with an agency, or trying to understand why your performance dropped after 2022, this conversation will fundamentally change how you think about paid advertising, unit economics, and what it takes to operate at scale.

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