I got six texts last night about Substack's fundraise.
+ Jack Antonoff's depressing Christmas music.
Good morning everyone. Last night I hosted a dinner with my friend Paul Needham in the beautiful private dining room at Le Veau d'Or. The dinner was mostly off the record so I can’t tell you much, but I can say the food was fantastic, the gingham tablecloths are beautiful, the space is perfectly lit, and I went downstairs at one point and saw people I knew at three different tables in the restaurant.
The Infatuation’s review put it well: “In most contexts, we'd find fussy flourishes like roasted chanterelles arranged like the hours of a clock on top of a corn soup pretty silly, no matter how delicious. At Le Veau, it's charming.”
I’m thinking about doing a small dinner in London next month depending if I can get a fun list together in time…
Today’s letter includes Jack Antonoff’s sad new Christmas music, my prediction on why Substack did that Series B extension, and Bardia Zeinali’s love letter to New York City bodegas.
The total count of texts I got about Substack’s quiet fundraise: six
Last night, Axios leaked that Substack has quietly raised around $10mm from investors, including Omeed Malik (whose investment fund 1789 Capital also backed Tucker Carlson's new media company) and
(who has tens of thousands of paid readers on Substack). Takes in my texts ranged from “they must really need the cash” to “Nate probably believes in the platform and wants to get in before their Series C.”