this post was submitted on 21 Dec 2023
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Loved the Verge summary. From the subheader:
https://www.theverge.com/2023/12/21/24011232/substack-nazi-moderation-demonetization-hamish-mckenzie
Note that Substack quite deliberately went out and hired on the furthest-right voices it thought it could get away with, and paid them massive advances. One reason for Substack's present financial woes is that a lot of these guys didn't work out. Our good friend Scooter is one who did, for example. In fact, he was the first to reveal that Substack was recruiting and paying these guys massive advances, while they were still telling the rest of the world that you could just sign up and make a newsletter and money would rain from the skies without mentioning that all Substack's big successes were being funded and promoted by Substack.
Substack was founded by a chud and funded by chuds, and this is well known. Nobody ever really had an excuse.
Got a link discussing their financial woes? Not disbelieving they have them, just want Schadenfreude.
this is from April, looking for something more recent
https://www.theverge.com/2023/4/7/23674178/substack-burn-2021-numbers-bad
Speedrunning the Medium story
except Medium is still around, amazingly