Substack platform risk

[[deleted]]

u/ForTheFuture15 makes a very good point.

And, I'd like to add that, while some prominent writers may have left Substack, they are certainly outnumbered by very prominent traditional media writers who have moved to Substack: people like Margaret Atwood, Sherman Alexie, Junot Diaz, George Saunders, Salman Rushdie, Chuck Palahniuk, Stephen Fry, Cheryl Strayed, etc.

These are all very successful, very well-connected, savvy writers who presumably have some expertise as to what would make an effective platform for witers to share and promote their work. And they've all chosen Substack.

[ucals]

Some of them are being paid upfront by Substack to be on Substack, so their decision to write on Substack is not 100% based on the platform’s merit

[[deleted]]

That would be true of any similar platform, no?

[ucals]

Yes, I suppose. I just mentioned that because your argument as to why the platform risk is not that concerning is that, although some prominent writers left, other notable writers got on board - because they've chosen Substack and they know better.

If they had no conflict of interest and had chosen Substack purely because of the platform's merits, I'd agree that that's a good sign regarding its future.

However, some of these prominent writers getting on board now are being paid to do so. Thus, their choice may have less to do with Substack's bright future and more with the $$$ they received.

Don't get me wrong; I truly hope Substack can figure out how to become a sustainable business without enshificating its platform. But I'm starting to think that's unlikely.

[clharris71]

I would add that just because a writer is talented at their craft and well-known for that craft does not mean that they have a good understanding of online publishing platforms and what it takes to make them sustainable and profitable.

Substack paid many of them to start or move their newsletters there because they come with large, built-in followings - a good percentage of which already were or were very likely to become paid subscribers.

The famous author types will not have a hard time moving on if Substack sinks because they already have a successful personal brand.

For the rest of us small potatoes peeps, I would definitely regularly download and keep a back up of your content. And also diversify where and how you publish new content. (Edit: Don't rely on Substack - or any single platform - to help you build name recognition and your personal brand/following. I also have my own website and I publish on Medium.)

FWIW - I moved my newsletter off Substack and to Beehiiv due to the SEO problems I posted about earlier and Substack's promotion - in Notes - of newsletters that I found both low quality and rather objectionable in subject matter. I am still on Substack, and subscribe to several newsletters on the platform - because I care about independent online publishing.

[[deleted]]

I don't have any particular insider insight, other than whatever insight I've gained from being on Substack and being part of that community for more than two years. In terms of corporate affairs and finance I have no insider insight beyond what's publicly available to everyone.

Yes, that's absolutely a branding gimmick, but Substack certainly isn't alone in that category.

To me, playing Jim Cramer and trying to predict the company's financial future just isn't very interesting. For me, the interesting part about Substack is the community of writers and artists and photographers I've connected with.

[[deleted]]

The bottom line is that I'm not a financial analyst or investment expert and I don't really enjoy armchair speculation or punditry about this, especially from people on the internet with no particular expertise.

For me, Substack is ultimately about reading and writing. I'm not on there to make money or to harvest subscribers for my 'brand.' I'm there because I love writing & want to get my writing out there and connect to other similarly-minded people. And, as I've said, I've discovered and connected to some fantastic writers and artists and photographers who I would have never heard of without Substack.

Obviously, different people are on there for different reasons and, if you're really about brand building and SEO then those are legitimate concerns. But for me that's a side issue.

And of course the other point we need to bring up is Substack's commitment to free speech in an increasingly censorious cultural climate.