They mainstreamed paying for independent writing, and changed the lives of thousands of writers in the process.
But they're building for a specific type of creator.
Thinking of starting a Substack?
Read this first π
They mainstreamed paying for independent writing, and changed the lives of thousands of writers in the process.
But they're building for a specific type of creator.
(Putting my product hat on, this is a smart strategy for them to differentiate and win a specific market)
In 2020 they rolled out initiatives like grants, legal support, and mentorship for writers.
Want to take some time off? One of their smartest features gives writers the power to pause paid subscriptions.
But, there are successful writers who are 'graduating' from Substack when they discover a few problems.
https://t.co/ryvYz4kXvD
Interesting point from @JayCoDon on why he left Substack.
— Austin Rief \u2615\ufe0f (@austin_rief) December 16, 2020
"Substack" becoming synonymous with "newsletter" on Twitter certainly has its pros.
But, there are also cons that may turn off future creators. pic.twitter.com/o5BhWxFv4x
π° High take rate
The SubstackΒ revenue calculator (https://t.co/QG6UhlCbyp)Β shows ~80% profit margin for creators. Competitors are closer to 95%.
https://t.co/f98WLD6rzo
When you start to see success, you'll want to sell other products to your audience (see: βMulti-SKU creatorβ by @hunterwalk). This needs audience segmentation & automationβyou can do neither here.
https://t.co/m0xR1ILXeM
Since this NYer article about Substack quotes a paragraph from my blog post about MultiSKU Creators but doesn't link to ithttps://t.co/QS206eYRsT
— \U0001f468\U0001f3fb\u200d\U0001f4bb\u2615\ufe0f (@hunterwalk) December 28, 2020
Refusal to link credit is one persistent example of how traditional media still doesn't truly embrace internet culture https://t.co/FUDvLgamBI
Sure, you get a home on the internet for your writing. But ability to customize your site design, layout, and organization is limited. It's 1 long feed. This is not ideal for discovery, evergreen content, and SEO.
@ConvertKit , @Ghost, or @letterdropco are all good options.
Email is a powerful tool for distribution and monetization. Newsletters are only one part of an email strategy, and switching costs are high.
Choose wisely.
https://t.co/sYBtptRj7H
You can now run paid newsletters through @ConvertKit!
— Nathan Barry (@nathanbarry) November 11, 2020
Here's why you'll love it:
- Free for up to 1,000 subscribers
- 3.5% payment fees (compared to 12.9% for Substack)
- Very customizable custom designs
- Subscriber referral programs
- Automations to drive more sales pic.twitter.com/eH6JfFCyzP
More from Finance
Ok here is the explanation. Grab a cup of coffee and read on. If you have not read/noticed this, you will see intraday options movement in a new light.
Say we have two options, one 50 delta ATM options and another 30 delta OTM option. Normally for a 100 point move, the ATM option will move 50 points and the OTM option will move 30 points. But in a high volatile environment, the OTM option will also move nearly 50 points
To understand why this happens, first understand why an ATM option is 50 delta. An ATM option has the probability of 50% of expiring as ITM. The price just has to close a rupee above the strike for the CE to be ITM and vice versa for PEs
Now think of a highly volatile day like today. If someone is asked where the BNF will close for the day or expiry, no one can answer. BNF can close freakin anywhere, That makes every option of an equal probability of being ITM. So all options have a 50% probability of being ITM
Hence, when a huge volatile move starts, all OTM options behave like ATM options. This phenomenon was first observed in the Black Monday crash of 1987 at Wall Street, which also gave rise to the volatility skew/smirk
In a high IV environment or when the market is very volatile
— Subhadip Nandy (@SubhadipNandy16) January 21, 2022
" OTM options will behave like ATM options", one will get almost the same delta movement
Say we have two options, one 50 delta ATM options and another 30 delta OTM option. Normally for a 100 point move, the ATM option will move 50 points and the OTM option will move 30 points. But in a high volatile environment, the OTM option will also move nearly 50 points
To understand why this happens, first understand why an ATM option is 50 delta. An ATM option has the probability of 50% of expiring as ITM. The price just has to close a rupee above the strike for the CE to be ITM and vice versa for PEs
Now think of a highly volatile day like today. If someone is asked where the BNF will close for the day or expiry, no one can answer. BNF can close freakin anywhere, That makes every option of an equal probability of being ITM. So all options have a 50% probability of being ITM
Hence, when a huge volatile move starts, all OTM options behave like ATM options. This phenomenon was first observed in the Black Monday crash of 1987 at Wall Street, which also gave rise to the volatility skew/smirk
