The valuation is a classic bet on potential vs reality, as Substack’s execution has been spotty. We unpack the bet on creating an OnlyFans-like network, presumably with less risqué content. Plus: the mini-pivot to livestreams, AI's brand problem with Gen Z, Google Discover gets compressed, the power shift to golf YouTube, and AI coming for Excel jockeys because nothing is sacred.
* Troy Young's People vs Algorithms newsletter
* Brian Morrissey's The Rebooting newsletter
* Alex Schleifer's Human Computer
* Follow Alex, Brian and Troy on Twitter
Chapters:
* 00:00 Open
* 01:01 Welcome
* 07:49 Substack
* 16:28 OnlyFans
* 23:12 Free Press
* 30:01 Google Discover
* 34:31 Rufuss
* 36:09 TITV
* 43:31 AI Spreadsheet Maker
* 51:54 AI Slop
* 59:53 Good Product
* 01:05:52 Outro
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