Substack: Hones Its Focus
July 8, 2022
Substack is a blogging platform which makes monetization easy. The New York Times, the outfit which purchased Wordle, illustrated where it would spend its acquisition dollars: A click machine egame. Why not Substack? Maybe the Gray Lady has an instinct that selling the branded writing of former laborers in publishing’s vineyard was not a good idea.
“Substack Is Laying of 14% of Its Staff” explains:
Many media companies are anticipating headwinds in the coming months as the broader economy shows signs of strain.
Ah, ha. Headwinds.
Substack has to do some adulting to control its cash outflows. The result is:
an effort to conserve cash amid an industry wide funding crunch for start-ups.
What’s the New York Times’ strategy? Write about outfits which sell words whilst hunting for apps which generate traffic.
Real news, star journalists and writers, and compelling content? Nope. The word of the day “crash.”
Stephen E Arnold, July 7, 2022
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