[clarkevans]

Matt, What is your take on how Journalism might be some sort of Platform Cooperative (https://platform.coop/), where leadership is subject to the user community - either subscribers, journalists, or both. Even non-profits can be a problem in this regard if the board of directors is locked. Should Journalism focus on maximizing investor return?

Would Substack think that perhaps they could get investor "exit" to a community of journalists or subscribers rather than to Google or Facebook buyout? For example, https://www.stocksy.com/ In this model, investors might sell to a cooperative structure and get a note payable from a percentage of net revenue.

[cjbest]

Chris from Substack here not Matt. The great thing about the Substack model is that it is a big financial opportunity. We help writers get paid, and we take a cut of that so that we're aligned.

What that means is that if we are successful, we get to build a sustainable company that does this important thing.