If you aren’t a writer or a journalist or someone else who cares deeply about platforms for writing and publishing, this week’s newsletter probably isn’t going to be that interesting for you. As I put it in a previous Torment Nexus newsletter about Substack a year or so ago, it would be nice to think that lots of people care about the nuances of how news and information gets published, and the challenges that the modern web and social media and technological monopolies pose to our information ecosystem, and yet a long career as a journalist writing about technology and publishing has convinced me that this is not the case! But as someone who fits all three of the descriptions I mentioned above, I’ve been fascinated with Substack ever since it launched in 2017 in a wave of optimism about online publishing, and I’ve watched it evolve over the years into a thing that some people love and some people hate.
The reason for the love is relatively easy to describe: writing online is hard – not just the writing part, but the rest of it as well, including finding and monetizing an audience, etc. The main benefit of Substack is that it automates a lot of that, for writers who don’t want to have to think about the mechanics, or having to get down in the machinery and fiddle with the levers and pulleys that make online publishing work. You just click “publish” and Substack does the rest. As co-founder Chris Best put it in a recent post: “The deal most of the internet offers creators goes something like this: We’ll give you reach if you give us your audience. Perform for the algorithm. Hope for a minority share of a platform’s own revenue, or figure out the money part yourself. Build your following on our platform, under our rules, subject to our priorities—and if any of that changes, good luck. Substack is built on a different theory: Give publishers a direct connection to the people who believe in them. Let people pay for the work they value.”
The numbers make it clear that lots of people see the benefits of this model. According to Substack, more than 100,000 publishers make money on Substack using the subscription model, and the top ten collectively make more than $100 million a year. I am one of those people, as some of you may know: I publish this newsletter as well as my daily When The Going Gets Weird collection of interesting links using Substack – although I also publish them both on the open-source Ghost platform, as well as on my personal blog at mathewingram.com (which is offline at the moment, illustrating the benefits of using a service that isn’t hosted on an old PC in your daughter’s living room and maintained by an English major). I make a few hundred dollars a year from Substack at most, probably because I haven’t put much effort into building my audience there, but I decided when I launched my newsletters that publishing in multiple places was something I wanted to commit to, and I am comfortable relying on the donation or patronage model of publishing (although my accountant is not happy about it).
Note: This is a version of my Torment Nexus newsletter, which I send out via Ghost, the open-source publishing platform. You can see other issues and sign up here.




