Austin Petersmith, an entrepreneur and investor with extensive experience in journalism joins Erik Torenberg to discuss his diverse experiences in the media and tech industries. He shares his journey at Inside, where he helped grow a remarkable newsletter business, and explores the complexities of user-generated content and niche social networks. In this conversation, they also explore the growth strategies, challenges, and monetization tactics used in scaling Inside to millions of subscribers.

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

RECOMMENDED PODCAST:

Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more.

Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH

Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812

RECOMMENDED PODCAST:

🎙️ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week.

Apple: https://podcasts.apple.com/podcast/id1696419056

Spotify: https://open.spotify.com/show/6q7Gn5lP8TTtBPuV1NJSGs

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SPONSORS: BEEHIIV

Head to https://Beehiiv.com and use code “EMPIRES” for 20% off your first three months.

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LINKS:

Howie.ai: https://howie.ai/

Subscribe to the Media Empires Newsletter: https://media-empires.beehiiv.com/

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X / TWITTER:

@eriktorenberg (Erik)

@awwstn (Austin)

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TIMESTAMPS:

(00:00) Intro

(00:57) Austin's journey into tech

(03:42) Building a newsletter empire

(11:39) Evolution and potential of social audio platforms

(14:41) Inside's growth and monetization strategies

(20:52) Sponsor: Beehiiv and Turpentine

(22:40) Reflecting on editorial strategies and experimental approaches

(26:53) User-generated content and future ideas

(29:36) Rise of niche media

(36:37) Challenges and strategies in podcasting

(39:17) Innovative models in SaaS and software negotiation

(45:32) Private Equity for podcasting

(53:47) Request for startups

(55:13) Wrap

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This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.

Good Times Island #2