The Wisdom Wall

“from a microtransaction perspective, I think one of the issues is To create the piece of content is very time consuming. And then obviously you get the free distribution on the back ends. You have zero marginal cost on the back end. But the problem is you have a timing mismatch with microtransactions between when the…”

“If you have a new business model with a very low cost structure, Social media is a godsend because you basically get free marketing. What a lot of people don't understand is I think a lot of writers give away way too much content on Twitter and they're out there posting. It's like, why should I read your site when…”

“subscription pricing does make much more sense for content production, because in this case, you're actually getting the money upfront. The money is funding the work as opposed to the work Being a speculative bid for the money.”

“if you produce super highly differentiated content, that is something that. Is not going to appeal to the whole world, but to the people who like it, they'll really like it, and if you have that sort of audience, you should maximize your revenue per user, and the way to maximize your revenue per user is to charge them…”

“What the internet does do in industry after industry, I think this applies to creative talent as much as anything else is number one, there's always a barbell effect. You're either very large or very small, you're very large, you get scale, you get aggregation effects, and then you can make massive investments. Or…”

“This is actually an example of the power of branding. I wrote articles that were basically aggregation theory well before I wrote aggregation theory, but giving it a term and coining it is what made it stick.”

“I think about journalists as sort of writing about what is happening at best, uncovering facts. Analysis is explaining why it happened, and opinion is some aspect of saying what you think should happen.”

“The problem with a word of mouth business and exponential growth is people run out of people to talk to. And so that's the limiting factor.”

“What I was wrong about is that the vast majority of people thought I would fail and go out of business. They didn't want to lose their money. And so they didn't subscribe, but once it was clear, I would be an ongoing entity. Then like, oh, okay, I guess my money will be safe. And so I will now subscribe.”

“the problem is people don't share podcasts, right? You listen to a podcast, you go to the next podcast, you do X, Y, Z. Whereas if you're reading something, it's super easy to tweet it or to forward the email.”

“the key to success on the internet is you want to be the biggest fish in the pond, but the success metric is not competing with other fish. It's finding your own pond. The opportunity is broad. It's not deep. Like in each pond, there's probably gonna be one or two fishes that survive, right? But There's an infinite…”

“The edge you can provide is usually measured in sort of months or years or a very low number of years.”

“CEOs are surrounded by people telling them what they want to hear. That's their incentives, right? The reason why the VP is attacking me is because he's worried I'm going to make the VP look bad in front of the CEO, right? That's the concern. Whereas the CEO is like, they're so thirsty for any sort of feedback that's…”