Discovering the Value: Why We Pay Writers and Trust in Their Success

Discovering the Value: Why We Pay Writers and Trust in Their Success

In the ever-evolving landscape of journalism, the internet has both expanded the possibilities and shattered the traditional business model. At Substack, we recognized the need to adapt to this new reality and devised a program called Substack Pro. This innovative structure allowed us to take on more risk on behalf of writers, ensuring they would receive payment for a year of work regardless of their publication's performance. We wanted to establish Substack as a trustworthy and reliable platform, and one way we achieved this was by aligning our success with the success of our writers.

Under the Substack Pro program, writers receive financial security for their first year, with Substack keeping 85% of the subscription revenue. This arrangement, while unconventional, allows us to shoulder most of the risk, giving writers the freedom to focus on creating quality content. After the initial year, the deal flips, granting writers 90% of the subscription revenue while Substack no longer provides a minimum guarantee. By assuming the risk, we foster an environment where writers can thrive and contribute to the growth of the Substack ecosystem.

It's important to note that Substack does not function as a traditional publisher. We do not commission or edit stories, nor do we manage or hire writers. Instead, writers are the true owners of their publications, writing for their own brands rather than for Substack itself. All we ask for is a commitment to a minimum publishing frequency, ensuring that writers are dedicated to their craft. When evaluating potential Pro writers, we consider factors such as audience size, engagement on social media, and the respect they command from their readers and peers. We also assess the market opportunity of their chosen subject matter and seek to host a diverse range of voices to foster healthy discourse.

The importance of a free press cannot be understated. Writers who tackle important issues are often met with opposition, and it is crucial that they receive support to continue their work. History has shown us that heroes can be mistaken for villains and vice versa, and it is through the free press that these narratives can be challenged and dissected. At Substack, we strive to provide a platform where diverse perspectives can thrive and contribute to a richer understanding of the world.

Steve Jobs, the visionary co-founder of Apple, emphasized the significance of following one's passion in a now-famous commencement speech. He stressed the importance of finding what you love and trusting that the dots will connect in your future. Jobs believed that loving what you do is the key to true satisfaction and great work. He urged individuals to never settle and to continuously search for their true calling.

In his speech, Jobs also shared a profound realization that came from facing mortality. He acknowledged that when confronted with the inevitability of death, external expectations, pride, and fear lose their power. This awareness of our limited time on Earth serves as a reminder to live authentically and to pursue our passions without hesitation. Jobs encouraged others to avoid falling into the trap of living someone else's life and to have the courage to follow their hearts and intuition.

Incorporating these valuable insights into our own lives, we can draw actionable advice to guide us on our journey. Here are three actionable tips:

1. Trust in your passion: Take the time to explore and discover what truly ignites your enthusiasm. When you are passionate about your work, it becomes easier to overcome obstacles and persevere through challenges.

2. Embrace risk: Sometimes, taking risks is necessary to achieve great things. Be willing to venture into uncharted territories, knowing that failure is not a setback but an opportunity for growth.

3. Follow your intuition: Listen to your inner voice and trust your instincts. Don't be swayed by external opinions or societal expectations. Your intuition knows what you truly want to become, and it will guide you towards your authentic path.

In conclusion, the Substack Pro program exemplifies our commitment to supporting writers and fostering a diverse range of voices. By assuming the risk and allowing writers to focus on creating quality content, we have built a platform where their success is intertwined with ours. Furthermore, Steve Jobs' wisdom reminds us of the importance of finding what we love and following our hearts, even in the face of uncertainty. By incorporating these principles into our lives, we can forge our own paths and create meaningful work.