Since it is HQ in SF, can you tell us more about Substack?

I thought it’s in NYC?

Extremely popular. Just in case it might IPO some years later, find out more now.

Later can also be profitable if you can identify a “1997 SJ” moment for AAPL, a “2015 AWS” moment for AMZN and “2019 Shanghai factory” moment in TSLA.

Interesting. Always thought they are in NYC.

Substack is in the newsletter business. They got their inspiration from WeChat actually. Newsletter writers can charge people subscription fees, of which substack takes a pretty big cut.

It’s very popular now. Twitter just pushed out a similar product called Revue but nowhere as popular.

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