"“Who am I writing for?” The question that begins this chapter has irked some readers. They want me to say “Whom am I writing for?” But I can’t bring myself to say it. It’s just not me."
Success at the portfolio level doesn't necessarily mean success at the individual level. In fact, it's almost never the case.
Become a VC for your own ideas. Don't be a bet in someone else's portfolio. Be the portfolio.
We are attempting to build a product that is so good that you will make money from your writing even if you have no clue about business, technology, or link-coloring. Just type into a box, hit “publish,” and wait for the cash to fling itself at you.
Creating full-time isn’t a hobby, it’s a career; but creators today are expected to simultaneously serve as CEO, COO, and CFO while consistently producing engaging content on a daily basis. It’s an untenable position for even the most business-savvy individuals, and it’s an enduring challenge for creators everywhere.
In 2020 so far (Q1 and Q2), NYT has spent $113.4 million on marketing and has acquired 1.2 million new subscribers. This implies a customer acquisition cost (CAC) of $94.51*. If the introductory offer is $4 per month for a year and the full price of $17 after that, their payback period is ~15 months.