Showing posts with label newsletter. Show all posts
Showing posts with label newsletter. Show all posts

Friday, December 3, 2021

The power of money


Austrian industry magazine Horizont recently reported on the unexpected economic success of news service Substack in the US. After a slow start in 2017, the scale recently rose to more than 1 million paid subscriptions.

Paid newsletter subscriptions??

The business concept is amazing: Substack collects the best and most prominent authors by offering them 2 advantages over the traditional media world: 1. no content control by publishers, editor-in-chief or the like, and 2. a 90% share of the revenue generated.

The business concept could be transferred easily also to legal contents: one looks for the most prominent, shrillest specialists and offers to them a weekly column against absolute maximum fee. The authors take over the marketing through their mere availability.

The catch: the business concept inevitably leads to exaggeration and selective reporting. - In the past, this would have been called puffery. Now, I am not an enemy of the boulevard; it rightly has its place in the media world. But specialist information for experts must remain objective and predictable.


Legalweek: Is the hype around ChatGPT just a bubble?

Anyone who had the opportunity to attend Legalweek last week in New York City might almost have gotten that impression. That is not to say...