The platform raised $157 million but lost top writers
medium was burning $2.6M a month when its union replaced the phrase "free and open" from the company's rules with "a safe, respectful, and welcoming environment." then came substack. the untold story of what should have been the next great publishing giant from @HarrisSockel https://www.piratewires.com/p/what-happened-to-medium
Many users criticized Medium's $2.6 million monthly burn rate on a text editor and its union-driven shift away from free speech toward ideological 'safety' culture.
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medium was burning $2.6M a month when they replaced the phrase "free and open" from the company's rules with "a safe, respectful, and welcoming environment." then came substack. the untold story of what should have been the next great publishing giant from @HarrisSockel
Publishing platform Medium raised over $157 million, at one point burning over $2.6 million per month, in an effort to become something like the “Netflix of publishing” — the default destination for the best writing on the internet, all for $5/month.
That is, until it lost many of its best writers and market share...
@HarrisSockel recounts the rise and fall of one of the most influential platforms of the last decade, featuring new details on a failed union drive, the platform’s censorial speech policies, erotica on Joe Biden’s homepage (yes), and the battle of the business models that reshaped the internet.
Full story 👇
@micsolana @HarrisSockel “Safety” culture and union meddling turned Medium into another dying woke rag. Free speech built the platform; feelings-first HR bullshit killed it. Substack ate their lunch because talent flees censorship.
Read it here: https://www.piratewires.com/p/what-happened-to-medium
Publishing platform Medium raised over $157 million, at one point burning over $2.6 million per month, in an effort to become something like the “Netflix of publishing” — the default destination for the best writing on the internet, all for $5/month.
That is, until it lost many of its best writers and market share...
@HarrisSockel recounts the rise and fall of one of the most influential platforms of the last decade, featuring new details on a failed union drive, the platform’s censorial speech policies, erotica on Joe Biden’s homepage (yes), and the battle of the business models that reshaped the internet.
Full story 👇
@micsolana @HarrisSockel A while back, I wrote an inadvertent series deconstructing Medium's business model and unsustainability. By the way, Substack is in the same boat.
@PirateWires 2.6m a month for a text editor is crazy
@micsolana @HarrisSockel That shift in language cost them everything.
@micsolana @HarrisSockel Not to mention, anyone can now develop their own 'Medium' in a couple of weeks with $2 for a domain and free-tier http://Cursor.AI, Claude, what have you...
