Some media companies manage this problem by devising systems that generate content without relying too much on any particular creator. Morning Brew, theSkimm, and SNL all have formats that work even if one creator leaves. The goal is to build a locus of value that lives inside the system, rather than specific individual’s brains.

For example, theSkimm will always provide better curation for urban, millennial, working women than Medium, because the former is not only dogmatically focused on that specific niche, but also pulling-from the entire universe of content to serve them. In contrast, Medium is trying to serve everyone across every interest with highly personalized cur... See more

Substack has a business model that creates unique unit economics. Substack isn’t trying to build the next The Economist or The Athletic. It’s not branded; the consumer doesn’t need to know what Substack is. Instead, the growth will come from consumers resonating with individual creators.