Co-fondateur de plateforme de newsletter obtient le premier éditeur, $100K+ de revenu le premier jour

McKenzie used a pre-existing personal relationship (not a cold list or ad) to recruit and onboard Substack's first publisher, then built the product's first version around that single customer's needs.

“We built that first version of Substack around Bill and his needs, making special allowances such as giving him large-type Verdana”

Bishop was chosen deliberately as a demonstration case: a credible, well-connected figure in his field who was willing to take a chance on an unproven startup.

“someone who knew media and tech inside and out, who was widely respected by many smart people”

Bishop's six-figure first day was quickly followed by two other writers with existing followings, Kelly Dwyer and Daniel Mallory Ortberg, launching on the platform.

Seeing a second and third writer succeed after Bishop is what convinced the founders the model wasn't a one-off and was worth building out for a broader market.

As writers succeed and grow their subscriber base and revenue with help from Substack's cross-writer network, McKenzie says they become willing to recommend the platform to peers, restarting the cycle.

“Once they’re up and running, they see their readership and revenue grow thanks in part to the Substack network”

McKenzie ties the loop directly to Substack's revenue-share pricing: because the company only earns when a writer earns, it is structurally incentivized to keep making writers successful enough to recommend it onward.

“the imperative is baked right into our business model: We can make money only when writers make money.”