> Also, even if the program is significantly loss making, it should be easy enough to shift to profitability; just scale down offering new contracts to people w

> Also, even if the program is significantly loss making, it should be easy enough to shift to profitability; just scale down offering new contracts to people without large existing readerships. Yeah Substack's server costs are probably fairly low, so they could also probably lay off some engineers and coast for a while before a competitor gobbled up the market. I never understood why Medium tried to be the Netflix for words. To me it always made more sense for them to follow Vimeo's model (disclaimer – I work for Vimeo): create tools that paying customers use to help them showcase their work, tools that let them customise how it appears, and tools that let them monetise that content.