Dear investors, 

We reflect on 2024 with both satisfaction and impatience. We’re satisfied because the business is strong, growth is robust, and we continue to attract the world’s best writers and creators to Substack. But there is still much work to be done, new territories to push into, and some key improvements to make to the product, and we’re... See more

This new model takes what we have learned from the Aggregation Era and finds a way to blend it with the independence enjoyed by the “sovereign writer”—or, to be appropriately expansive, let’s call it “sovereign creator.” It is, I believe, the natural model of the internet, taking advantage of the web’s massive scale and interconnectivity and... See more

-Grow the Substack economy to help writers connect with the services they need to do their best work and build thriving publications, such as editing, design, insurance, and financing.