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Substack Is Having a Moment—Again. But Time Is Running Out


While star reporters continue to flock to Substack, subscription fatigue is only getting worse.

Byers, like other critics, charged that once you get past the few real big earners, the platform was full of low-flying mediocrities: “The truth is that the vast majority of the content on Substack is boring, amateurish or batshit crazy,” he wrote. Ana Marie Cox, who once enjoyed blogging fame as Wonkette, is even grimmer, writing in her newsletter that Substack “is as unstable as a SpaceX launch.” She wasn’t impressed with the more recent influx of name writers. While I love the idea of liberated journalists speaking out, the fact is that compared to a bundled package known as a publication, the lone-voice model monetizes by delivering full content only to patrons who can afford it.

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