In the past, I’d read descriptions of what Substack is like because I was searching for guidance. Now, I read these articles more with idle curiosity, as I never end up relating.
I'm really happy you're doing well, and more happy that YOU'RE happy with how you're doing. I'm a paid subscriber, and not even a sports guy. You're just a really good writer, and make the subject matter interesting even to guys like me.
Really good writers should do well. Glad to hear that you are.
"I’m saying it because I mean it, even with the understanding that I got lucky here" Ethan, you made your own luck, and it's well deserved.
BTW, hope you do a deep dive on the Athletic and what you think the end game is for them. I think they are hoping to be bought out, but I don't think they've turned a profit as of yet. (BTW, it's a little offputting as a subscriber of the Athletic since day one, who keeps resubscribing each year at full price, to see subscription prices go by the wayside for new subscribers).
I've read (from you??? I don't remember) that Draft Kings or some other sports betting site was looking at acquiring them. If that were to happen, what do you think the result would be?
Keep up the good work. Btw, I am expecting 7 articles and 4 podcasts next week. Get on that or my nine dollars and I may be gone for good ;)
i'm an online poker player who's worked a bunch of regular jobs in years where its less legal, and this was pretty relatable to my experience in the difference between working for a business and Grinding for yourself, especially the parts about the inevitable quality vs quantity issue and finding a personal Journey to it that makes the whole thing feel less like work. and especially especially "don't get too high in times of feast or too low in times of famine", because ultimately you only have so much control over that, and even to the extent you have control over the feast the market will catch up to you and you'll have to re-adjust. good stuff
"Reaching that base of customers means that your content has its own shape and its own fit. My people like content that’s slower, and less rooted in pure information, and more grounded in a particular perspective."
I can attest, I love the fact that this story dropped almost two weeks ago and I'm just now getting around to it. I paid to be as slow as I want, I appreciate there isn't a drive to oversaturate, and if slightly less content leads to a slightly healthier and happier Strauss, then we all benefit anyways.
I gotta say I appreciate the steady high quality work. I don't have a ton of time to read and listen, so having a place that provides unique insights is a big draw. Day 1 subscriber and never regretted it once.
Great post. I imagine there are so many variables that determine the size of one's free and paid lists, it's very difficult to make general statements right now.
Substack is revealing the market value of various writers in a way that is uncomfortable for many. Some "big names" have found little interest in their newsletters, while others are realizing they're worth way more than they were getting paid as staff writers.
My observation is that the full-time writers are setting a standard that dabblers can't meet. There's a big difference between those who treat this as a full-time job, and engage with their audiences daily, verses those who treat Substack as a low priority.
Just wanted to say, regarding the economics of SS, I imagine, in some ways, HoS sub comments might well turn into a bit of a feedback loop.
Given HoS is at the very upper end of SS monthly fees (Taibbi himself - for me a must read writer - is half of HoS), most folks I know can't justify ~$1,000/year (or ~$10/mo) for their 8-10 favorite writers.
Particularly not when you can get dozens of writers for the same ~$10/mo over on TA - heck, HoS costs more per month than access to the entire staff of writers over at the LAT. ;)
While you're trying to make a living on HoS and, I'd imagine, less concerned with being connected to "common folk," I suspect, over time, if your writing is (at least) somewhat led by reader feedback, it'll all end up being pretty niche (there are likely few folks spending $1,000+ annually on boutique writers) - but it looks like niche is doing a damn fine job paying the bills and I'm delighted for you.
The free stuff rocks and/but I'll probably never convert to paid until/unless HoS sub costs fall down to those shanty levels of hacks like Taibbi. ;)
Some of these writers don’t have the experience of selling things. When you sell things often times people will say “no” or ask for something undoable. They’re not threatening to burn down your village and enslave your family - they’re just saying no or bargaining. The entire experience can be an emotional roller coaster if you let it. Keeping score is an emotional challenge for anyone whether you’re a hedge fund manager, an athlete, or Substacker.
Your content is really good. Maybe at some point I’ll feel differently and unsubscribe. Maybe you’ll decide you want to do something else. In any case, no villages will be burned nor families enslaved. Life is a lot bigger than Substack. I think a lot of these writers miss that.
Good luck keeping it up. When you’re in business for yourself the product is no longer your work but your time. It’s easy for the uninitiated to rapidly dilute the quality of the product by overextending themselves. But it’s just as easy for anyone to keep going more and more. Maybe you do two articles a week but one of them is 16,000 words and you wreck yourself over the second. Easy to avoid once. Hard to avoid always.
Not saying you’ll fail. Just saying be aware it’s not the quantity of things you put out. It’s the time that goes in. But people are still going to expect the quantity regardless of the time.
That pace is honestly part of why I like your work so much. It reminds me a bit of the podcast Hardcore History and its "the work is done when it is finished" approach. I find a lot of writing leaves me with this feeling of "I wonder what they would have produced with another day" and that's a deeply unsatisfying feeling. I am an exceedingly strong proponent of being undeniably yourself and only sharing your work with the world when you're satisfied it's complete and just letting the chips fall where they may. In a just world one complete project will draw more eyes and more adoration than 50 rushed ones. And writing as yourself is scary but also crucial - the secret to longevity is to be irreplaceable, and nobody on Earth can replace the voice you made for you.
I'm really happy you're doing well, and more happy that YOU'RE happy with how you're doing. I'm a paid subscriber, and not even a sports guy. You're just a really good writer, and make the subject matter interesting even to guys like me.
Really good writers should do well. Glad to hear that you are.
"I’m saying it because I mean it, even with the understanding that I got lucky here" Ethan, you made your own luck, and it's well deserved.
BTW, hope you do a deep dive on the Athletic and what you think the end game is for them. I think they are hoping to be bought out, but I don't think they've turned a profit as of yet. (BTW, it's a little offputting as a subscriber of the Athletic since day one, who keeps resubscribing each year at full price, to see subscription prices go by the wayside for new subscribers).
I've read (from you??? I don't remember) that Draft Kings or some other sports betting site was looking at acquiring them. If that were to happen, what do you think the result would be?
Keep up the good work. Btw, I am expecting 7 articles and 4 podcasts next week. Get on that or my nine dollars and I may be gone for good ;)
i'm an online poker player who's worked a bunch of regular jobs in years where its less legal, and this was pretty relatable to my experience in the difference between working for a business and Grinding for yourself, especially the parts about the inevitable quality vs quantity issue and finding a personal Journey to it that makes the whole thing feel less like work. and especially especially "don't get too high in times of feast or too low in times of famine", because ultimately you only have so much control over that, and even to the extent you have control over the feast the market will catch up to you and you'll have to re-adjust. good stuff
"Reaching that base of customers means that your content has its own shape and its own fit. My people like content that’s slower, and less rooted in pure information, and more grounded in a particular perspective."
I can attest, I love the fact that this story dropped almost two weeks ago and I'm just now getting around to it. I paid to be as slow as I want, I appreciate there isn't a drive to oversaturate, and if slightly less content leads to a slightly healthier and happier Strauss, then we all benefit anyways.
Happy Thanksgiving!
This man really made me watch 11 min Chris Paul video and I actually enjoyed it, blasphemy!
I gotta say I appreciate the steady high quality work. I don't have a ton of time to read and listen, so having a place that provides unique insights is a big draw. Day 1 subscriber and never regretted it once.
Great post. I imagine there are so many variables that determine the size of one's free and paid lists, it's very difficult to make general statements right now.
Substack is revealing the market value of various writers in a way that is uncomfortable for many. Some "big names" have found little interest in their newsletters, while others are realizing they're worth way more than they were getting paid as staff writers.
My observation is that the full-time writers are setting a standard that dabblers can't meet. There's a big difference between those who treat this as a full-time job, and engage with their audiences daily, verses those who treat Substack as a low priority.
Accidentally turned comments off on this originally. Like an idiot. Sorry about that, comments open.
Just wanted to say, regarding the economics of SS, I imagine, in some ways, HoS sub comments might well turn into a bit of a feedback loop.
Given HoS is at the very upper end of SS monthly fees (Taibbi himself - for me a must read writer - is half of HoS), most folks I know can't justify ~$1,000/year (or ~$10/mo) for their 8-10 favorite writers.
Particularly not when you can get dozens of writers for the same ~$10/mo over on TA - heck, HoS costs more per month than access to the entire staff of writers over at the LAT. ;)
While you're trying to make a living on HoS and, I'd imagine, less concerned with being connected to "common folk," I suspect, over time, if your writing is (at least) somewhat led by reader feedback, it'll all end up being pretty niche (there are likely few folks spending $1,000+ annually on boutique writers) - but it looks like niche is doing a damn fine job paying the bills and I'm delighted for you.
The free stuff rocks and/but I'll probably never convert to paid until/unless HoS sub costs fall down to those shanty levels of hacks like Taibbi. ;)
Cheers (from the cheap seats)!
Some of these writers don’t have the experience of selling things. When you sell things often times people will say “no” or ask for something undoable. They’re not threatening to burn down your village and enslave your family - they’re just saying no or bargaining. The entire experience can be an emotional roller coaster if you let it. Keeping score is an emotional challenge for anyone whether you’re a hedge fund manager, an athlete, or Substacker.
Your content is really good. Maybe at some point I’ll feel differently and unsubscribe. Maybe you’ll decide you want to do something else. In any case, no villages will be burned nor families enslaved. Life is a lot bigger than Substack. I think a lot of these writers miss that.
Fantastic Ethan. I really like your approach. Keep it up man
Good luck keeping it up. When you’re in business for yourself the product is no longer your work but your time. It’s easy for the uninitiated to rapidly dilute the quality of the product by overextending themselves. But it’s just as easy for anyone to keep going more and more. Maybe you do two articles a week but one of them is 16,000 words and you wreck yourself over the second. Easy to avoid once. Hard to avoid always.
Not saying you’ll fail. Just saying be aware it’s not the quantity of things you put out. It’s the time that goes in. But people are still going to expect the quantity regardless of the time.
Two to three posts a week seems reasonable.
That pace is honestly part of why I like your work so much. It reminds me a bit of the podcast Hardcore History and its "the work is done when it is finished" approach. I find a lot of writing leaves me with this feeling of "I wonder what they would have produced with another day" and that's a deeply unsatisfying feeling. I am an exceedingly strong proponent of being undeniably yourself and only sharing your work with the world when you're satisfied it's complete and just letting the chips fall where they may. In a just world one complete project will draw more eyes and more adoration than 50 rushed ones. And writing as yourself is scary but also crucial - the secret to longevity is to be irreplaceable, and nobody on Earth can replace the voice you made for you.