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The legions of small publishers making a living on substack beg to differ.


1) Subscription is not the same thing as micropayments (as they are commonly understood)

2) It's pretty unclear to me that Substack actually lets "legions" of writers make a living. https://substack.com/discover lists the top (income making?) writers, and it drops off very quickly. By number 25, it is "hundreds of subscribers" paying $10/month. That's a nice hobby income but isn't really "a living".




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