Great Advice on Writing and the Internet's Destiny Machine

Great Advice on Writing and the Internet's Destiny Machine

Writing is a craft that takes time and practice to master. Tim Urban, the founder of Wait But Why, shares his journey of writing 300 blog posts before finding his voice and style. He emphasizes the importance of experimentation and continuous improvement. If something you're trying isn't working, don't be afraid to rewrite parts, start over, or try a new approach. Keep fiddling until it clicks.

One valuable tip Urban offers is to read a lot. Reading acts as fertilizer for your writing. It exposes you to different writing styles and helps you develop your own unique voice. Urban suggests starting somewhere in the middle of the spectrum between imitating other writers and being completely unique. As you mature as a writer, work your way up the scale towards developing your own style.

Feedback plays a crucial role in a writer's growth, but it's essential to be selective about who gives you feedback. The person should believe in you, root for you, and understand that what they're reading isn't your maximum potential but rather your experimentation and quest to find your voice. Feedback from someone who satisfies all these criteria can be valuable in shaping your writing.

Transitioning to the internet, Product Hunt has become the go-to platform for product launches. It has become almost unthinkable for a new product to launch without posting on Product Hunt. The platform provides an opportunity to win new users and attention at no added cost, often resulting in significant valuation changes. This success can be attributed to Product Hunt's focus on building a community before developing the product.

Product Hunt's founder, Ryan Hoover, understood the importance of community-building. He created a group on the platform, inviting startup friends to contribute by sharing links to their favorite products. This approach of starting with a community and then building the product resonated with Naval Ravikant, who invested in Product Hunt. The warm and genuine community that Hoover built set Product Hunt apart from other platforms like Hacker News or Reddit, which often have a more sarcastic and snarky tone.

However, Product Hunt faced a challenge - it wasn't making money. Hoover prioritized the platform's growth, mirroring the strategies of other successful consumer products. In hindsight, he admits that dedicating a portion of their resources towards generating revenue would have been a wise decision. Eventually, Product Hunt explored various revenue streams, including partnerships with companies like General Electric and integrating podcasts and book reviews. While these initiatives didn't move the needle significantly, the company now generates the majority of its revenue through advertisements.

Product Hunt's revenue model includes five sponsorship products: promoted listings, email collection, topic-based ads, newsletter sponsorship, and job postings. Advertising accounts for $2.9 million of the projected $3.3 million in revenue for the year. The remaining $400K comes from subscriptions to Ship and Founder Club.

To continue growing, Product Hunt should consider reevaluating its platform and making room for new opportunities. This could involve transforming or shutting down the site's least used corners. Additionally, Product Hunt can leverage early traction data to bring promising projects to the forefront and provide extra distribution through collaborations with platforms like Early.

One unique idea for Product Hunt to explore is establishing an incubator. Founders often need help even before they have an idea or a product to work on. By front-running the existing maker flow, Product Hunt can support and nurture early-stage startups, providing them with the attention, customers, and investment they need all at once.

In conclusion, writing and building an online platform like Product Hunt require continuous experimentation, community-building, and adaptability. It takes time to find your voice as a writer and your market fit as a platform. Reading extensively, seeking feedback from the right people, and constantly improving are essential for growth. For Product Hunt, exploring new revenue streams, optimizing the platform, and expanding support for early-stage startups will be crucial for sustained success.