Why we pay writers and the power of learning in public

Why we pay writers and the power of learning in public

In the ever-evolving landscape of journalism and content creation, finding a sustainable business model has become a challenge. The internet has expanded the possibilities for journalism, but it has also shattered its traditional business model. This dilemma led to the creation of Substack Pro, a program that aims to support writers by absorbing more risk on their behalf.

Substack Pro offers financial security to writers, guaranteeing that they will get paid for a year of work regardless of how their publication performs. This unique structure is a departure from the traditional Silicon Valley wisdom that prioritizes aggregating an audience before establishing a business model. Instead, Substack Pro places the success of the writers at the forefront, aligning their success with the success of the platform.

To participate in Substack Pro, writers agree to let Substack keep 85% of the subscription revenue in the first year, ensuring that the platform takes on most of the risk. However, after that initial year, the deal flips, and the writer keeps 90% of the subscription revenue. This arrangement not only provides financial stability for writers but also incentivizes them to contribute to the quality of the Substack ecosystem, fostering long-term customer relationships.

It is important to note that Substack Pro is not an editorial decision but a business one. Substack does not commission or edit stories, nor does it hire or manage writers. The writers themselves are the owners of their publications, writing for their own platforms and not for Substack. The only requirement from Substack is a commitment to a minimum publishing frequency, ensuring that writers are dedicated to their craft.

When selecting writers for Substack Pro, Substack considers various factors such as the size of their audience, the engagement of their following on social media, and the respect they command among their readers and peers. Additionally, the platform evaluates the market opportunity for their publication by assessing what they cover and how well that subject is covered elsewhere. Substack aims to host a diverse array of voices, recognizing that a diversity of thought is crucial for healthy discourse.

In a similar vein, the concept of learning in public has gained traction in recent years. The focus is on the individual's learning processes, structures, and needs rather than content management systems. Learning in public involves making one's learning journey transparent and leveraging the power of community and feedback to enhance knowledge flow.

One framework that supports learning in public is Personal Knowledge Management (PKM). PKM emphasizes the needs and desires of the individual, allowing them to make their knowledge flow public through the Seek-Sense-Share model. This framework enhances knowledge flows within organizations, connecting workshops, case-based events, and other knowledge "stock" to create a more effective learning environment.

Learning in public can be a challenging process as it requires transparency and vulnerability. However, the benefits of receiving feedback, support, and making continuous improvements outweigh the initial discomfort. Transparency is a crucial aspect of developing new management frameworks for a networked world. By learning in public, we make our work transparent, paving the way for critical next practices in our increasingly complex workplaces.

In conclusion, the initiatives of Substack Pro and learning in public highlight the importance of supporting creators and fostering knowledge sharing. The Substack Pro program demonstrates a commitment to writers' success and provides a sustainable business model for journalism in the digital age. On the other hand, learning in public offers individuals the opportunity to enhance their learning processes and contribute to the collective knowledge of their communities. By embracing these concepts, we can create a more inclusive and innovative landscape for creators and learners alike.

Actionable Advice:

1. Embrace transparent business models: Like Substack Pro, consider how you can create a business model that prioritizes the success of your contributors or employees. Find ways to absorb risk and provide financial security, fostering long-term relationships.

2. Foster a culture of learning in public: Encourage individuals within your organization to share their learning journeys and make their knowledge flow public. Embrace transparency and create opportunities for feedback and collaboration to enhance knowledge flow.

3. Emphasize diversity of thought: Recognize the importance of diverse voices and perspectives in healthy discourse. Seek out and support creators and learners who may engender opposition but contribute valuable insights and ideas.