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vgr's profile
Venkatesh Rao
Venkatesh Rao
Venkatesh Rao
@vgr

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Venkatesh Rao

@vgr

Conversational account. For work follow @ribbonfarm, @breaking_smart, @artofgig. Tweets are 90% vacuous views, apathetically held. Mediocritopian. IKEA builder.

Los Angeles, CA
venkateshrao.com
Joined August 2007

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    Venkatesh Rao‏ @vgr Jul 13
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    Damn. So many newsletter. How will it all end? A typical New Yorker/Economist grade magazine bundling a variety of writers costs $100-$200/year. Typical substack is $50-$150 for a single writer. With the same budget you’re replacing a magazine with 1-3 individual writers.

    8:20 AM - 13 Jul 2020
    • 11 Retweets
    • 86 Likes
    • T.Cain Anant Sharma Scorpio Season Anj Anubhav Goyal justalearner j kusel Bridges Ξric Ruleman 🍄💸 Joshua Mitchell
    10 replies 11 retweets 86 likes
      1. New conversation
      2. Venkatesh Rao‏ @vgr Jul 13
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        This does not look sustainable to me. OTOH, magazines are a) mostly overhead not writer comp b) reliant on high circulation. Average entry level staff writer salary for magazines is apparently ~45k. You can make as much solo with <1000 subscribers at $5/mohttps://www.glassdoor.com/Salaries/staff-writer-salary-SRCH_KO0,12.htm …

        1 reply 1 retweet 19 likes
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      3. Venkatesh Rao‏ @vgr Jul 13
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        Macro view, what’s happening is simply that readers are doing all the work of bundling and curation as shadow labor and writers are getting a bigger share of pie of actual $ changing hands. I think overall pie is shrinking by about 50% at least.

        3 replies 0 retweets 28 likes
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      4. Venkatesh Rao‏ @vgr Jul 13
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        If there are 1000 writers with 1000 subscribers each making 45k, market is worth 50 million (assuming 10% for substack type platforms). If there is zero overlap, that’s a million unique readers. A magazine of that would probably be 100m, maybe 20m from readers 80m from ads?

        1 reply 0 retweets 11 likes
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      5. Venkatesh Rao‏ @vgr Jul 13
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        Basically ads are getting cut out of the equation for now, and that’s the big change in unit economics. Writers make more, readers pay more, but overall pie shrinks. Ads will come back in somewhere somehow.

        3 replies 0 retweets 32 likes
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      6. End of conversation
      1. Ryan Wilson‏ @rywils21 Jul 13
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        Replying to @vgr

        Let the bundling begin

        0 replies 0 retweets 1 like
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      2. Eggnik‏ @EggNik Jul 13
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        Replying to @vgr

        pay for # articles? Then you can make your own magazine out of the feed.

        1 reply 0 retweets 2 likes
      3. Jay.‏ @meangrape Jul 13
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        Replying to @EggNik @vgr

        So you deposit a pool of money; the publisher makes good previews of labeled, indexed, cross-linked articles. Single price per article—don’t get fancy with pricing. The occasional free “loyalty” article. Easy way to make lists/save articles/etc.

        0 replies 0 retweets 2 likes
      4. End of conversation
      1. M‏ @MachinaHill Jul 13
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        Replying to @vgr

        ie. Medium at $50/year. For thousands of writers at the other end of the scale.

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      2. Sam Bhagwat‏ @calcsam Jul 13
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        Replying to @vgr

        But eg @ByrneHobart writes, what, 3-4 pages of content per day? So you're getting ~20-ish pages of content a week, which is maybe 1/3 or 1/4 of what you get in the Economist

        1 reply 0 retweets 4 likes
      3. ~ 币≡沉鱼落雁 ~‏ @s_5Q2X8mgeGR Jul 14
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        Replying to @calcsam @vgr @ByrneHobart

        Also, (some) people subscribe several magazines, but not read cover to cover. With The Diff, Stratechery, etc, probably higher % read cover to cover, and content more specialized/relevant to their interest than mag: avg price for super-relevant-content-for-you probably decrease.

        0 replies 0 retweets 1 like
      4. End of conversation

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