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Ana Marie Cox on the Shaky Foundation of Substack as a Business

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21–30 of 56 posts

Re: Ana Marie Cox on the Shaky Foundation of Substack as a Business

#21
post #8

Earlier quoted context omitted.

There must be an opportunity here for someone who can stand up a medium-sized website and integrate it with a payment provider to take Substack's lunch money?

I've always struggled to understand this part: what is it that Substack came up with that we did not have earlier? Aren't there a hundred examples out there of medium-sized websites providing a similar infrastructure mix?

To me, it seems like they're simply a monetised version of Tumblr, without the newfound censorship that all the other social media companies somehow have to have.

I really don't get the whole email thing, though. Newsletters are kinda super annoying to signup for, and then to receive. I've tried the Substack version, and I still don't get it. Even though I do love the mailing lists, but that's not the same as the newsletters.

Re: Ana Marie Cox on the Shaky Foundation of Substack as a Business

#22

This post didn't age well – 3 weeks later Substack announced a $100m fundraise at $1.1b valuation. [1] Ana's contention that Substack is "rickety" seems motivated by her conviction that they should adopt a more assertive, aggressive censorship regime, and that "we need a world where a social safety net protects risky writing". There are certainly many interesting questions about the future of media and Substack's bus…

This post linked to a different article (former Bloomberg reporter) that said it expected this round to be at $750 million ($50 million above the previous valuation).

And so yes, that's significantly less than it ended up being, $1.1 billion, but I'm not sure it impacts the argument being made. Except that the multiple would be even greater!

Re: Ana Marie Cox on the Shaky Foundation of Substack as a Business

#23

This post didn't age well – 3 weeks later Substack announced a $100m fundraise at $1.1b valuation. [1] Ana's contention that Substack is "rickety" seems motivated by her conviction that they should adopt a more assertive, aggressive censorship regime, and that "we need a world where a social safety net protects risky writing". There are certainly many interesting questions about the future of media and Substack's bus…

[flagged]

Re: Ana Marie Cox on the Shaky Foundation of Substack as a Business

#24
post #3

> It’s as unstable as a SpaceX launch Hate makes people blind. Starship is failing by design - that's just how they're choosing to develop it. The chopsticks video that we saw earlier was very nearly science fiction. And as far as regular launches go, SpaceX has done more successful launches than any company or nation ever. But more generally, this idea of abandoning an app (or product) the moment you encounter peopl…

Abandoning a community the moment you encounter people who disagree with you is how one builds a bubble strong enough to say things like the bit you quoted.

[deleted]

Re: Ana Marie Cox on the Shaky Foundation of Substack as a Business

#25

This post didn't age well – 3 weeks later Substack announced a $100m fundraise at $1.1b valuation. [1] Ana's contention that Substack is "rickety" seems motivated by her conviction that they should adopt a more assertive, aggressive censorship regime, and that "we need a world where a social safety net protects risky writing". There are certainly many interesting questions about the future of media and Substack's bus…

She specifically talks about what happens next after raising that $100m. The higher valuation creating more urgency to be profitable, which could lead to a descent into Twitter-style outrage engagement stupidity, influencers, etc.

If she's wrong about anything, it's that you can assume enough people will leave a declining platform to keep it from staying alive.

Re: Ana Marie Cox on the Shaky Foundation of Substack as a Business

#26
post #3

> It’s as unstable as a SpaceX launch Hate makes people blind. Starship is failing by design - that's just how they're choosing to develop it. The chopsticks video that we saw earlier was very nearly science fiction. And as far as regular launches go, SpaceX has done more successful launches than any company or nation ever. But more generally, this idea of abandoning an app (or product) the moment you encounter peopl…

[deleted]

Re: Ana Marie Cox on the Shaky Foundation of Substack as a Business

#27
post #3

> It’s as unstable as a SpaceX launch Hate makes people blind. Starship is failing by design - that's just how they're choosing to develop it. The chopsticks video that we saw earlier was very nearly science fiction. And as far as regular launches go, SpaceX has done more successful launches than any company or nation ever. But more generally, this idea of abandoning an app (or product) the moment you encounter peopl…

Abandoning a community the moment you encounter people who disagree with you is how one builds a bubble strong enough to say things like the bit you quoted.

[flagged]

Re: Ana Marie Cox on the Shaky Foundation of Substack as a Business

#28
post #3

> It’s as unstable as a SpaceX launch Hate makes people blind. Starship is failing by design - that's just how they're choosing to develop it. The chopsticks video that we saw earlier was very nearly science fiction. And as far as regular launches go, SpaceX has done more successful launches than any company or nation ever. But more generally, this idea of abandoning an app (or product) the moment you encounter peopl…

I agree that hate makes people blind, which is why you need to get off X. That line doesn’t imply anything other than that SpaceX launches are unstable! The explosions are a highly notable feature of said launches.

Re: Ana Marie Cox on the Shaky Foundation of Substack as a Business

#29

This post didn't age well – 3 weeks later Substack announced a $100m fundraise at $1.1b valuation. [1] Ana's contention that Substack is "rickety" seems motivated by her conviction that they should adopt a more assertive, aggressive censorship regime, and that "we need a world where a social safety net protects risky writing". There are certainly many interesting questions about the future of media and Substack's bus…

Counterpoint:

https://finance.yahoo.com/news/timeline-softbanks-bets-wewor...

Re: Ana Marie Cox on the Shaky Foundation of Substack as a Business

#30

Why is it that Substack can’t just be run as a 10-20 person small-medium sized business forever? If publishers want to go there for a basic product, and Substack can collect rent from them, what’s the problem?

There are already small newsletter businesses that offer basic products.
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