of its newest batch of fellowships: 15 recipients in total, divided into one senior fellow, nine fellows and five honorable mentions. All told, the company awarded $355,000 in funds.
Where it gets interesting, though, is that because Substack profits off the potential success of these newsletters, the company is essentiallyin the newsletter products — and by extension the writers — as if they were tiny startups.This entire premise is made possible by Substack's technology stack, which allows writers to monetize their output by putting it behind an easy-to-use paywall. It turns a writer's talent and body of work into an asset.
But perhaps they could use an infusion of capital immediately, to pay off a bill. Or perhaps a large sum of money would help the writer focus more fully on their newsletter, expediting its growth. Maybe the writer is not sure their newslettersucceed, leaving them more amenable to the idea of accepting a lump sum payment in exchange for part of their "company," i.e. the newsletter.
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