We prove limitations on the known methods for designing matrix multiplication algorithms. Alman and Vassilevska Williams (FOCS'18) recently defined the Universal Method, which generalizes all the known approaches, including Strassen's Laser Method (J. reine angew. Math., 1987) and Cohn and Umans's Group Theoretic Method (FOCS'03). We prove concrete lower bounds on the algorithms one can design by applying the Universal Method to many different tensors. Our proofs use new tools to give upper bounds on the asymptotic slice rank of a wide range of tensors. Our main result is that the Universal Method applied to any Coppersmith-Winograd tensor CW q cannot yield a bound on ω, the exponent of matrix multiplication, better than 2.16805. It was previously known (Alman and Vassilevska Williams, FOCS'18) that the weaker "Galactic Method" applied to CW q could not achieve an exponent of 2.We also study the Laser Method (which is a special case of the Universal Method) and prove that it is "complete" for matrix multiplication algorithms: when it applies to a tensor T , it achieves ω = 2 if and only if it is possible for the Universal Method applied to T to achieve ω = 2. Hence, the Laser Method, which was originally used as an algorithmic tool,