Distribution and Demand

Distribution on the Internet is free; what matters is controlling demand. AT&T and Verizon didn’t understand the distinction.

Market-Making on the Internet

More and more opportunities on the web come from market marking, not for advertisers, but for real goods and services paid for with real money.

Sovereign Writers and Substack

Substack is at the center of media controversy, most of which misses the point that sovereign writers — not Substack — are in control.

Publishing is Back to the Future

Journalism cannot afford to be divorced from business realities; that applies to Australia, the New York Times, and even Andreessen Horowitz.