3 June 2025 link newsletters tech media
My big question is how many people are making over 100k/yr? I don’t see their business model holding up. With the money they’ve raised they need to hit a large number of paying subscribers. Those who find success will move away to platforms that make more sense economically (after they’ve taken advantage of the network effect, which will also dissipate as the big guns leave). It’s a big reason I’m bullish on Ghost over both Substack and beehiiv.