My First Million The Step-by-Step Playbook We Used to Build a $100M+ Newsletter Business
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Apr 4, 2025 
Alex Lieberman and Austin Rief, co-founders of Morning Brew, share their journey in building a $100M+ newsletter business. They discuss strategies for growing from 0 to 100K subscribers, emphasizing the importance of quality content and strategic hires. The duo reveals insights on navigating financial challenges, aggressive ad spending, and maintaining core values during growth. They also explore the complexities of acquisitions in the newsletter landscape, highlighting unique market opportunities and the significance of collaboration in a competitive environment.
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Origin of Morning Brew
- Morning Brew's initial premise was to address the lack of engaging business news for students.
- Many students found traditional sources like the Wall Street Journal dry and difficult to read.
The Steinberg Interaction
- Alex Lieberman and Austin Rief were initially contacted by John Steinberg, a prominent media executive.
- Steinberg feigned interest in investing in Morning Brew, but actually wanted to hire them, ultimately undervaluing their company.
Non-Traditional Hiring
- Look for non-traditional hires with untapped potential that established companies might overlook.
- Identify talent based on skill and passion, not just traditional credentials.
