medium was burning $2.6M a month when they replaced the phrase "free and open" from the company's rules with "a safe, respectful, and welcoming environment." then came substack. the untold story of what should have been the next great publishing giant from @HarrisSockel
Pirate Wires (@PirateWires)
Publishing platform Medium raised over $157 million, at one point burning over $2.6 million per month, in an effort to become something like the “Netflix of publishing” — the default destination for the best writing on the internet, all for $5/month.
That is, until it lost many of its best writers and market share...
@HarrisSockel recounts the rise and fall of one of the most influential platforms of the last decade, featuring new details on a failed union drive, the platform’s censorial speech policies, erotica on Joe Biden’s homepage (yes), and the battle of the business models that reshaped the internet.
Full story 👇
— https://nitter.net/PirateWires/status/2067994907046986064#m