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The cheapest substack rate is $5/mo or $50/y. New Yorker is $90 a year. So you’re paying more for 2 writers than a full magazine.
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I think it’s a groundswell movement (maybe short lived, we’ll see) of people wanting to support writers they enjoy and also.. a “slow internet”. Maybe a trickle down effect of subscription growth for NYT, Guardian etc.
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I’ve been thinking about the w/r/t why I am happy to pay $5 a month for a VC musing newsletter but constantly private-browse the NYT. At least part of it is bc I know what I’ll get from the VC, and there aren’t public alternatives. NYT feels less certain and has free competition
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So intuitively - sub $5 makes it not worthwhile for the consumer. I subscribe to a small number of newsletters that add a ton of value to my life. The writers are catering to a micro segment and making us hugely happy. The opposite of the New Yorker