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Update: I stumbled upon this incredibly well articulated Tweet thread today - If you read one thing about Substack and the future of journalism after this post, let this be it:

https://twitter.com/ubiquity75/status/1366115953419804677?s=20

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After building the supply side, Substack may unlock the demand side by different monetization models -

(1) Readers pay $10-25 per month for reading substacks and writers get paid based on views / reader dwell time. This may end up solving the problem of subscriber churn from individual substacks. Writers in turn don't have to write something insightful every week.

(2) Tactically, once enough content has been churned in the Substack ecosystem, SEO will kick in in a big way. A lot of new readers will be exposed to Substack content organically. Very similar to medium. Hopefully Substack won't repeat Medium's mistakes.

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