"The Rise of Substack and Matter: Disrupting the Media Landscape"

"The Rise of Substack and Matter: Disrupting the Media Landscape"

Introduction:
In today's digital age, the value of attention has shifted drastically. What was once an abundant resource has now become scarce, leading to a disconnect in the media landscape. However, platforms like Substack and Matter have emerged as game-changers, revolutionizing how we consume and discover content. This article explores the core principles behind these platforms, their approaches to differentiation, and the importance of trust in building a loyal user base.

Substack: Optimizing for Your Money, Not Your Time
Substack recognized the need for a new business model in media publications. Instead of optimizing for users' time, they sought to optimize for their money. This shift was inspired by the success of platforms like Patreon and the growing willingness of people to pay for niche content. By focusing on differentiation rather than cost, Substack aimed to create value for writers and readers alike. They started by building the product exclusively for Bill Bishop, author of Sinocism, and expanded from there. This approach allowed them to discover and build features that catered to specific publication needs, such as group subscriptions.

Trust as Substack's Moat
Contrary to traditional media platforms, Substack's value proposition lies in trust. They prioritize building a high degree of trust between writers and readers, which makes subscribers more likely to explore other Substack publications. Unlike platforms with writer lock-ins, Substack's lack of platform lock-in is one of its core strengths. By selling trust, Substack has created a loyal community of readers and writers who find value in the platform's authenticity and personalized content.

Matter: Rethinking Content Consumption and Discovery
Born out of conversations at Nextdoor, Matter seeks to improve the visibility of indie authors and enhance the reading experience. Unlike previous content consumption or discovery apps that centered around RSS feeds, Matter focuses on the "who" rather than the "where." They recognized that email, while popular for content consumption, lacked the necessary mechanics for discovering and retaining information. Matter created a network of readers who curate content and provide social context around their recommendations.

The Power of Recommendations and Trust
Matter believes that trust recommendations are crucial in improving content filters and information diets. Users save more content than they can consume, making highly-curated recommendations a valuable feature. By following authors across the web rather than specific publications, users can discover content that aligns with their interests and challenges their worldviews. Matter's success lies in surfacing insightful content from obscure sources, expanding users' horizons beyond their core interests.