Financing and pricing! Substack crunched the numbers, figured out how much people were willing to pay for certain bloggers' materials. Then they found some ver

Financing and pricing! Substack crunched the numbers, figured out how much people were willing to pay for certain bloggers' materials. Then they found some very prominent bloggers and paid them huge advances to join the platform. It was very risky but it clearly worked. And now we are seeing the downstream market adapting in kind.