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Rachel Richardson's avatar

My guess is that Substack is following a similar trajectory to other creator led platforms and the top 1 per cent of Substackers are making 90 per cent of the money. It’s an obvious strategy to highlight the success stories but like other platforms Substack won’t hit the kind of growth that pleases VC types until it can reliably create a middle class.

Sarah Fay, PhD's avatar

I probably don’t make as much money as I could if I promised people that they could make a bunch of money on Substack. I would never do that.

Substack can be immensely profitable but not necessarily financially. I'm talking personally, professionally, creatively. The connections that can be made: my clients have gotten book deals and written for major media outlets and built businesses and created what used to be considered an enormous email list, especially for a writer just starting out. (There was a time when having a hundred people on your email list made you the boss.)

Making any money as a writer is a rare thing and always has been. (When I came of age as a writer, I was paid $250 for a book review for the New York Times. It was impossible to make a living.)

And we forget that email addresses alone are so valuable that Meta won't give them to us. There's much to be made here and it isn't just cash.

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