In this insightful episode, Ben Thompson, the founder of Stratechery, shares his journey of building one of the internet’s most influential strategy analysis platforms.
The discussion explores the evolution of Stratechery, its impact on the tech industry, and the significance of subscription-based models in the digital content landscape.
The Evolution of Stratechery
Stratechery’s journey from a small blog to a major influencer in the tech industry demonstrates the power of consistent, quality content.
Its success has inspired a new generation of business content creators and shaped discussions within the tech industry, serving as a blueprint for future content developers.
The Early Stages of Content Creation
Maintaining a disciplined posting schedule in the early stages of content creation can play a crucial role in shaping one’s career.
Thompson started with a goal to generate daily content, ensuring subscribers felt like they were getting more content.
The Challenges of Launching Stratechery
When Stratechery was launched, there were no real subscription tools available, making the process challenging.
However, a year later, the introduction of Memberful, a platform for managing subscriptions, made things easier.
The Strategic Shift in User Behavior
Thompson foresaw a strategic shift in user behavior, with people increasingly turning to Google and social media for content.
He believed that starting a blog and putting up Google ads would not be a viable option, leading to the decision to focus on a subscription model.
The Impact of Stratechery
Stratechery’s significant impact on business and tech over the years is a testament to the power of consistent, quality content and a well-executed business model.
Its success has inspired a new generation of business content creators, demonstrating the potential of the subscription internet.
Consistency in Content Creation
Creating consistent, high-quality content plays a crucial role in online businesses.
Each piece of content presents a potential risk of churn, making it necessary to maintain a high standard of quality to retain and grow an audience.
It’s not just about the quality of individual pieces, but also the regularity and consistency of the content.
Stratechery’s Subscription Model
Stratechery’s subscription model, pioneered by Thompson, has allowed content creators to receive money upfront, enabling them to fund their work without speculating on potential earnings.
This model has been influential in shaping internet-based businesses over the last two decades.
The Importance of Understanding Company Culture
A deep understanding of a company’s culture is critical in analyzing business decisions.
The shared understanding of a company’s capabilities can be more impactful than the actions of individual employees.
While culture can drive a company in the same direction, it can also hinder change when necessary.
The Future of Venture Capital
The future of venture capital lies in increasing transparency and accessibility, allowing more investors to benefit from the industry’s growth.
Traditional sectors are being disrupted by technology, with the focus shifting from picking winners to guaranteeing alpha.
If I produce super highly differentiated content that is something that is not going to appeal to the whole world but to the people who like it they’ll really like it and if you have that sort of audience you should maximize your Revenue per user and the way to maximize your Revenue per user is to charge them a subscription – Ben Thompson
The Role of Analysis and Opinion
Choosing to focus on analysis rather than breaking news has given Thompson a unique perspective on why companies make certain decisions.
His insights and perspectives, combined with his experience in large companies, have made his work stand out in the crowded digital space.
The Significance of Company Culture
Culture plays a crucial role in coordinating a large company.
While it can keep a company moving in the same direction, it can also become a straitjacket if the company needs to change direction.
Changing a process can often be easier than changing a culture.
The Impact of a Non-Traditional Background
Thompson’s non-traditional background has shaped his unique perspective on opportunities.
He believes that many people lack knowledge of the opportunities available to them, a perspective that is often overlooked by elites and people living in coastal areas.
