Hello and welcome to our first subscriber-only update! We’ve been amazed and pleasantly overwhelmed by the early support for Substack. It’s great to see that people just get it. We want to help writers make money. We do that by dramatically lowering the barriers to starting a subscription publication. That approach has always made sense to us, but it’s gratifying that smart people like you seem to agree. Fixing the media’s business model problem is the first step in building a new ecosystem for publishing.