A Brief History of Medium: Consider Post-PMF before PMF

A Brief History of Medium: Consider Post-PMF before PMF

In order to succeed on any digital publishing platform, it is crucial to have a deep understanding of how the platform has evolved over time. By understanding the changes that have taken place and the reasons behind them, writers can better navigate the platform and make the most of its features.

One platform that has undergone significant changes is Medium. Initially, Medium differentiated itself from other platforms like Blogger by sorting blog posts by topic rather than author. This allowed for a more organized and visually appealing format, with the highest-ranked post always at the top. Additionally, Medium introduced the concept of collections, which could be either private or public. Private collections allowed for sharing with a select group of people, while public collections were open to the world.

Medium also introduced features to improve the feedback process for writers. They added a button that revealed a secret link to a post, which could be sent via email to anyone for feedback. The feedback feature included the ability to highlight text, making it easier for readers to provide specific comments. This feedback was invaluable for writers to make changes and improvements to their work before publishing.

However, Medium's evolution didn't stop there. The platform, run by one of the founders of Twitter, began to court members of the political class. The appeal was clear - the opportunity to get their message out without the editorial interference that often comes with traditional media. This move showcased Medium's commitment to being an open platform that allowed for diverse voices to be heard.

In recent years, Medium has also made changes to its payment system. They introduced a system where payments to writers are weighted based on the number of claps an article receives from subscribers. This incentivizes writers to create high-quality content that resonates with readers. However, Medium also recognizes that not all writers want their stories to be part of the platform's paywall. They aim to help quality stories gain more exposure through their curation system.

Now, let's shift our focus to another important topic - Peter Thiel's 4 rules. These rules provide valuable insights into building a successful business and can be applied to the world of digital publishing platforms like Medium.

Thiel's first rule emphasizes the need for proprietary technology. In the rapidly evolving world of technology, it is crucial to have a technological advantage that sets you apart from competitors. However, it's important to note that even if your technology is currently superior, it may be quickly caught up to and commoditized. Therefore, it is essential to continuously innovate and stay ahead of the curve.

The second rule highlights the importance of network effects. Building a strong network of users or subscribers can create a powerful feedback loop that attracts even more users. This can lead to exponential growth and a competitive advantage over other platforms.

Economies of scale, Thiel's third rule, also play a significant role in the success of digital publishing platforms. As the platform grows and attracts more users, the cost per user decreases, allowing for greater profitability. This scalability is essential for long-term sustainability and success.

Finally, Thiel's fourth rule emphasizes the need to build a strong brand. A well-known and trusted brand can attract users and differentiate the platform from competitors. By creating a unique and recognizable brand, Medium can establish itself as a leader in the digital publishing space.

In conclusion, understanding the evolution of Medium and the factors that have contributed to its success is crucial for writers looking to thrive on the platform. Additionally, incorporating Peter Thiel's 4 rules can provide valuable insights into building a successful digital publishing business.

Actionable advice:

1. Continuously innovate and stay ahead of the curve in terms of technology. Don't rely solely on a current advantage, as it can quickly be surpassed by competitors.
2. Focus on building a strong network of users or subscribers. Leverage network effects to create a powerful feedback loop that attracts even more users.
3. Invest in building a strong brand. Establishing a unique and recognizable brand can differentiate your platform from competitors and attract users.

By following these three actionable pieces of advice, writers can position themselves for success on Medium and other digital publishing platforms.