The Psychology of Collecting and the Future of Journalism

The Psychology of Collecting and the Future of Journalism

In the realm of psychology, collecting has long been a topic of fascination. Psychologists have often approached the subject from a Freudian perspective, delving into the controlling and impulsive dark side of collecting. They suggest that people collect as a means of satisfying a deep-seated need for an "object of desire" and that this desire to collect begins at birth. However, motives for collecting are not mutually exclusive; rather, they combine in unique ways for each collector.

For those who engage in collecting, the value of their collections goes far beyond monetary worth. Instead, collecting becomes a lifelong quest, a pursuit that can never truly be completed. The act of collecting provides psychological security, filling a void and giving meaning to one's sense of self. Collectors experience happiness and excitement when adding a new find to their collection, and there is a sense of camaraderie when sharing their collection with other like-minded individuals.

While the psychology of collecting focuses on personal fulfillment and emotional value, the world of journalism has undergone significant changes in recent years. The rise of the internet has disrupted the traditional business model for journalism, leaving many writers struggling to find financial stability. This prompted the creation of Substack Pro, a program designed to support writers by absorbing the risk on their behalf and ensuring they get paid for their work.

The founders of Substack realized that the internet had expanded the possibilities for journalism but had also shattered its business model. They recognized that the traditional approach of aggregating an audience first and figuring out the business model later was no longer viable. To build trust and reliability, Substack made its success dependent on the success of its writers. This unique structure allowed writers to receive payment for a year of work, regardless of how their publication performed.

In exchange for this financial security, Pro writers agreed to let Substack keep 85% of the subscription revenue in the first year. After that initial year, the deal flipped, and writers kept 90% of the subscription revenue. This arrangement allowed Substack to take on the majority of the risk, while also incentivizing writers to continue producing high-quality content.

It is important to note that Substack does not commission or edit stories, nor do they hire or manage writers. The writers themselves are the owners, and they write for their own publications. Substack's role is to provide a platform and support system for writers, ensuring they have the tools and resources they need to succeed. The only requirement Substack asks for is a commitment to a minimum publishing frequency to demonstrate the writer's dedication.

When evaluating writers for the Pro program, Substack considers various factors such as audience size, engagement on social media, and the respect the writer garners from their readers and peers. They also assess the market opportunity of the writer's chosen subject and aim to host a diverse array of voices to promote healthy discourse. Substack recognizes that not every writer will be universally loved, but they believe in the importance of supporting those who contribute to meaningful conversations, even if they face opposition.

In conclusion, the psychology of collecting and the future of journalism intersect in intriguing ways. Both delve into the human desire for fulfillment and the pursuit of something meaningful. Collecting satisfies a primal need for an "object of desire," while journalism seeks to inform, provoke thought, and foster healthy discourse. As the internet continues to reshape industries, innovative platforms like Substack bridge the gap between writers and readers, providing a sustainable model for journalism and empowering writers to share their unique perspectives.

Actionable Advice:

1. Embrace the joy of collecting: If you find yourself drawn to collecting, embrace it as a source of personal fulfillment. Recognize that the value lies beyond monetary worth and find happiness in the process of adding to your collection.
2. Support independent journalism: As a reader, consider supporting independent journalists and writers who provide unique perspectives and contribute to healthy discourse. Subscribe to platforms like Substack that prioritize the success and well-being of writers.
3. Seek diverse voices: Engage with a variety of writers and publications to expose yourself to different viewpoints and ideas. Embrace the discomfort that comes with opposing opinions, as it fosters personal growth and a more nuanced understanding of the world around us.