EPISODE · Jun 23, 2025 · 22 MIN
Media Monday: Substackistan
from The Powers That Be: Daily · host Puck | Audacy
Jon Kelly joins guest host Dylan Byers for a deep dive into Substack’s increasingly precarious business model—marked by a high cash burn rate, flat valuation, and potential dilution. They debate whether the company is truly a tech platform or a media business in disguise, and unpack the growing pains writers face when leaving legacy outlets for the Substack promise.
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Media Monday: Substackistan
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