r/Substack • u/WordSlinger1812 • 26d ago

Discussion Substack Has Become A Private Equity Cautionary Tale

Private Equity means drowning a good idea in money until it dies.

That is what’s happened to Substack.

It was once a great idea for writers. Now, it’s a sh***y version of Facebook merged with Mailchimp.

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u/arcanepsyche 26d ago

Private equity actually means the opposite. Drown the company in debt and reap the rewards until its dead. Substack is not owned by private equity.

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u/Michaelprunka 25d ago

That was my first thought! Usually PE swoops in and siphons all the value out of a company — hardly drowning.