Hey, 60 bucks ain’t nothing. (Unless it’s way closer to nothing.)

Substack announces “over 20,000” writers on its platform have raised “over 1.2 million” from readers who’ve pledged to pay if said writers flip on their paywalls. Calculator.app announces that this works out to $60 per writer if (improbably) distributed evenly; reality suggests the most popular free Substackers almost certainly collected the vast majority of this money and the median payout was probably closer to $0. The creator economy, baby!

https://www.axios.com/2023/07/20/substack-pledges-writers