Substack
Substack
Description
Substack is a publishing platform that enables writers to start paid newsletters, building direct relationships with their audience while earning subscription revenue. Writers keep 90% of revenue (after Stripe fees). Top writers earn $500K-$5M+ annually, with thousands earning a living wage from their newsletters.
For ZHC builders, Substack represents a content-first path to funding. Rather than pitching VCs or applying for grants, you can build authority and audience through writing, then monetize through paid subscriptions. Many successful startups began as newsletters that validated demand before building product. Substack recently expanded to include Substack Chat (community), Substack Video, and Substack Podcasts.
Eligibility
Content Categories
- Technology & AI - Industry analysis, tutorials, research
- Business & Finance - Investing, entrepreneurship, markets
- Science - Research summaries, expert analysis
- Culture & Society - Commentary, trends, observations
- Niche Expertise - Any specialized knowledge with audience
Basic Requirements
- Willingness to write consistently (1-4x per week typical)
- Expertise or unique perspective on a topic
- Stripe account for payment processing
- Content that complies with Substack guidelines
Growth Model
- Free content - Build audience and authority (80% of posts)
- Paid content - Monetize engaged subscribers (20% of posts)
- Founding members - Premium tier ($100-$500/year) for super fans
ZHC-Specific Fit
✅ Excellent for:
- Technical founders building in public
- AI researchers sharing findings
- Domain experts testing market demand
- Building audience before product launch
- Non-dilutive funding through content
❌ Poor fit if:
- Don't enjoy writing or content creation
- Need immediate large funding
- No expertise to share
- Prefer traditional fundraising
Application Process
Launching a Newsletter
| Step | Timeline | Details |
|---|---|---|
| Choose focus | Week 1 | Define niche and unique angle |
| Set up publication | Day 1 | Create Substack, design branding |
| Write seed content | Week 1-2 | Publish 3-5 free posts |
| Enable paid | Week 2 | Set subscription pricing |
| Launch | Week 2-3 | Announce to network |
| Build audience | Ongoing | Consistent publishing |
| Monetize | Months 3-6 | Convert free to paid readers |
Pricing Structure
| Model | Price | Best For |
|---|---|---|
| Monthly | $5-$15/month | Regular analysis, news |
| Annual | $50-$150/year | Deep dives, research |
| Founding Member | $200-$500/year | Exclusive access, community |
Revenue Examples
1,000 paid subscribers @ $10/month = $120K/year (gross) 10,000 paid subscribers @ $10/month = $1.2M/year (gross)
Substack takes 10%, Stripe takes ~3% Creator keeps ~87% of revenue
Costs
- Substack fee: 10% of paid subscription revenue
- Stripe processing: ~2.9% + $0.30 per transaction
- Free to start, only pay when you earn