Matt Yglesias on the election, Substack success and the great unbundling
Oct 2, 2024
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Matt Yglesias, the mind behind the popular Substack Slow Boring, dives into the shifting landscape of political media. He explores what it's like running a successful three-person business pulling in $1.4 million a year. The discussion navigates the election's focus on narratives over policies and critiques the media's role in amplifying political personalities. Yglesias shares insights on polling discrepancies and the rise of platforms like Substack, showcasing how they've reshaped political discourse amidst the chaos of modern campaigns.
Matt Yglesias has successfully built a profitable independent media business with Slow Boring, highlighting the potential of Substack for niche content creators.
The podcast underscores the troubling trend of election discourse prioritizing personalities over policy, frustrating those advocating for substantive discussions.
Deep dives
Monetization Success in Political Media
Matt Iglesias has successfully transitioned from working with major media outlets to managing his own sub-stack, Slow Boring, which currently boasts around 18,000 paid subscribers. This transition has provided him with a substantial annual income of approximately $1.4 million, showcasing the lucrative potential of independent political media. By focusing on delivering valuable content and engaging with a dedicated audience, he has demonstrated that one can build a prosperous business despite the challenges of operating in a saturated media environment. This shift illustrates a growing trend where independent voices can thrive financially while maintaining journalistic independence.
The State of Policy in the Current Election
Iglesias expresses disappointment over the lack of substantive policy focus in the current political discourse, particularly during election campaigns. He observes that conversations often revolve around dramatic narratives and personalities instead of discussing critical policy stakes that impact voters' lives. As a policy-oriented writer, he finds the absence of meaningful discussions quite frustrating and believes it's essential to redirect attention to policy implications, despite the fascination with personalities like Donald Trump. This divergence between policy seriousness and the current election climate highlights a broader trend where entertainment often overshadows governance.
Challenges of Media Credibility
There is a growing public skepticism towards mainstream media coverage across the political spectrum, with intensified scrutiny of outlets like The New York Times. Iglesias notes that many conservatives believe these organizations have strayed too far into progressive agendas, resulting in a disconnect between the media and significant portions of the American electorate. He argues that while mainstream media does produce quality reporting, the perception of bias often leads some audiences to dismiss their coverage entirely. This erosion of trust presents a challenge for media outlets aiming to engage a diverse readership while maintaining journalistic integrity.
The Evolution of Polling Methodologies
The podcast discusses the evolving landscape of polling, particularly regarding the challenges posed by the Trump era. Pollsters indicate that while there have been significant polling errors in the past, especially during the 2016 and 2020 elections, routine polling mechanisms continue to be effective in many scenarios. There is debate about the accuracy of polling methods, especially considering diminishing response rates and the difficulty in capturing public opinion accurately. Iglesias points out that despite these challenges, polling remains a critical tool in understanding voter sentiment, especially as elections grow increasingly competitive.
The last time I talked to Matt Yglesias, we were co-workers at Vox.com, and Joe Biden had just been elected president. Now Yglesias runs Slow Boring, a tremendously successful Substack, and I wanted to check back in. Discussed here: What a policy nerd does in an election that’s awfully light on policy; why hating the media is now a popular pastime across the political spectrum; what it’s like to run a three-person business that’s grossing something like $1.4 million a year.