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The internet—as always—has already helped to solve this problem by providing a free market for education and knowledge. This not only improves the quality of the information—after filtering yourself—but also lowers the cost. There is no longer a central authority to decide what knowledge is “true” and “important enough” to be taught. The same thing... See more

They have 250k subscribers, but there are likely some people who subscribe to multiple publications. Let’s say there are 275k active subscriptions from those 250k subscribers. At $8 per month, that’s $2.2 million in monthly gross revenue. Substack takes 10% of that as their fee, so that would leave about $220k in monthly revenue for Substack.... See more

When our activist came in, I offered to step down as CEO and the board wanted to go in a different direction. I didn't want to be on a board with an activist. I didn't want to run a company like that. It's just a Wall Street mess. It's not creative, it's diminishing. But the board said no. So at that point, I'm like, okay, I have to plan an exit.... See more