Elite capture is the “presence of unequal access to power...and consequently the ability to influence the transfer of funds/resources disproportionately” toward outcomes that benefit those with access.

Here, funds/resources mean currency, so in some situations they can refer to things like housing and healthcare but they can also refer to “knowledge... See more

What Substack is doing is taking the power away from readers and themselves, and giving it to authors. What does that mean? They are betting that in the market of long-form articles, the player with the most power is the author, not the reader. It’s the supply that matters, not the demand.