Inside the Independent Creator World, with Substack’s Hamish McKenzie – and Nayeema Raza
Mar 7, 2025
auto_awesome
In this insightful conversation, Nayeema Raza, a former co-host and now an independent creator with her show "Smart Girl Dumb Questions," shares her experiences in the evolving media landscape. She highlights the challenges and benefits of independence in content creation. Joining her is Hamish McKenzie, co-founder of Substack, who discusses the platform's journey, its appeal for progressive voices, and their decision to decline an acquisition by Elon Musk. Together, they dissect the balance between writing and video content in a competitive creator economy.
Substack's direct subscription model empowers independent creators by promoting ownership and transparency, fostering a loyal audience relationship without advertising influence.
Hamish McKenzie emphasizes the importance of adapting to creators' needs while staying true to Substack's roots in written content amidst the rise of video.
Deep dives
Substack's Position in Media
Substack has positioned itself as a significant player in the media landscape, particularly as a platform for independent writers and creators. The platform has seen increased subscriptions, especially from writers redirecting their efforts away from traditional media due to political volatility. Examples include notable figures like Jim Acosta and Jen Rubin leveraging Substack to reach audiences seeking anti-Trump perspectives, showcasing Substack's appeal during times of political unrest. By offering writers ownership and positioning them to monetize their audiences directly, Substack aims to redefine the relationship between creators and their subscribers.
Navigating Media Formats
Amidst the rise of video content, Substack is grappling with its identity, emphasizing its roots in written content while adapting to evolving creator preferences. Acknowledging the pressures to pivot towards video, the platform maintains that it remains primarily a text-based environment. Hamish McKenzie, Substack's co-founder, argues that such decisions should reflect the creators' needs rather than an obligation to follow trends, stressing the importance of ownership and audience trust. This balance will be crucial in a media landscape increasingly dominated by video and visual content.
The Value of Direct Subscription
Substack's business model relies on direct subscriptions, allowing creators to receive payment directly from their audiences rather than through traditional advertising. This arrangement promotes a transparent relationship where both creators and the platform benefit from subscriber success. The discussion reflects concerns over advertising's influence, as McKenzie reveals a wariness towards integrating ads, fearing they may compromise the creator's relationship with their audience. By focusing solely on subscriptions for revenue, Substack strives to cultivate a loyal community without adverse influences from advertisers.
Refusing to Sell to Elon Musk
In a significant decision, Substack co-founder Hamish McKenzie recounts their choice to decline an acquisition offer from Elon Musk, emphasizing a clear philosophical divergence in their business models. McKenzie highlights that Musk's ad-driven approach does not align with Substack's commitment to creator ownership and direct audience connections. Instead of conforming to external pressures that may undermine its core mission, Substack retains its independence to build a platform focused on nurturing writers and fostering community engagement. This move illustrates a broader trend of independence among creators seeking control over their content and channels.
This week, we get an inside look at the independent creator model of media with a two-part conversation: First, Ben and Max interview Substack co-founder and chief writing officer, Hamish McKenzie, about the platform’s appeal for the resistance on the left, their move into video, and why they turned down Elon Musk’s offer to buy them a few years ago. Then, former Mixed Signals co-host and newly independent creator, Nayeema Raza, joins to talk about her foray into the new media landscape, what she’s learned about the space, and why her show, Smart Girl Dumb Questions, isn’t on Substack.