I too invested this afternoon. Mine was the 100 dollar entry ticket. I agree investing can be about values. I have never invested and won't likely much in the future but I enjoy substack My actual tax burden has hugely decreased. I will never owe federal taxes again- them spending my money on all sorts of horror that I never would consent to. Now I can give a little where I see good work, maybe it can be like tithing is to religious people.
Nikita, I'm not a financial advisor, and you didn't ask for my advice, which has never stopped me before! :) But the first two rules of investing are "Don't put all your eggs in one basket," and "Don't make investment decisions when you're high." OK, I made that second one up, but I still think it's a good rule! As Mr. Wonderful from Shark Tank would say, "Don't invest with your emotions." Chris Best, the co-founder and CEO of Substack warned, “Don’t invest more than you can afford to lose.” (first link below) That's always good advice if you choose to invest in single companies, rather than highly diversified mutual funds or exchange traded funds. I hope you don't lose your investment, and if you do, chalk it up to another important life lesson. It's a great platform, and I see the appeal, but it sounds like you put a large portion of your portfolio in one basket, and it's a basket you were already invested in because of the income you derive from it. OK, just 3 more unsolicited pieces of advice from somebody who invested wisely enough to retire fairly young: 1) Understand the basics of investing by reading "The Bogleheads' Guide to Investing" by Mel Lindhauer et al., 2) Consider converting all but your drug money into dollars as soon as you're paid (2nd link), and 3) If you want to invest in socially responsible companies, consider an ESG Fund (third link). OK, feel free to tell me to f*ck off! 🤣
I wonder if this is a way to ensure the long-term commitment of their writers to substack. They've been successfully poaching writers from other platforms. Who's to stop another platform from poaching them back? This would help their writers build an emotional investment with them and make them less likely to leave.
Or maybe they're broke at a time when capital is tough to come by and no one wants to lend money to tech companies unless they're AI.
I have no comments on your investment, but I love your writing style as an essayist.
You go from scene to brilliant dreamy big ideas and land the point with action: "So it appears, I thought while taking another drag, that sometimes money is made not through labor, but by aligning oneself with ideas, tools, individuals, and institutions that gain power over time. And isn’t money itself a proxy for things like power and influence?…I wondered if I could somehow invest in dolphins and octopi too, or in aliens, or in some trippy idea like the one about ideas being alive. I couldn’t find anything like that on the stock exchange app."
I found out about this round through this post, and immediately went and made a small investment. Substack's growth is phenomenal and as a writer on the platform it feels right to get involved in this way. For the intellectually curious writer and open-minded reader alike, this is the place to be. Cool to own a tiny part of it.
Why I'm Investing $2k in Substack
I invested $100 to get a badge that I’m an investor.
Even if I don’t get that, I’ll sign my support emails as one from now on.
Obviously I love the platform, so throwing part of what it earned me already back as an investment feels karmically right. 🙏🏻
I too invested this afternoon. Mine was the 100 dollar entry ticket. I agree investing can be about values. I have never invested and won't likely much in the future but I enjoy substack My actual tax burden has hugely decreased. I will never owe federal taxes again- them spending my money on all sorts of horror that I never would consent to. Now I can give a little where I see good work, maybe it can be like tithing is to religious people.
Nikita, I'm not a financial advisor, and you didn't ask for my advice, which has never stopped me before! :) But the first two rules of investing are "Don't put all your eggs in one basket," and "Don't make investment decisions when you're high." OK, I made that second one up, but I still think it's a good rule! As Mr. Wonderful from Shark Tank would say, "Don't invest with your emotions." Chris Best, the co-founder and CEO of Substack warned, “Don’t invest more than you can afford to lose.” (first link below) That's always good advice if you choose to invest in single companies, rather than highly diversified mutual funds or exchange traded funds. I hope you don't lose your investment, and if you do, chalk it up to another important life lesson. It's a great platform, and I see the appeal, but it sounds like you put a large portion of your portfolio in one basket, and it's a basket you were already invested in because of the income you derive from it. OK, just 3 more unsolicited pieces of advice from somebody who invested wisely enough to retire fairly young: 1) Understand the basics of investing by reading "The Bogleheads' Guide to Investing" by Mel Lindhauer et al., 2) Consider converting all but your drug money into dollars as soon as you're paid (2nd link), and 3) If you want to invest in socially responsible companies, consider an ESG Fund (third link). OK, feel free to tell me to f*ck off! 🤣
https://www.theverge.com/2023/3/28/23660473/substack-retail-investors-revenue-profit
https://www.managementstudyguide.com/why-cryptocurrency-is-a-bad-investment.htm
https://money.usnews.com/investing/slideshows/7-best-socially-responsible-funds
I wonder if this is a way to ensure the long-term commitment of their writers to substack. They've been successfully poaching writers from other platforms. Who's to stop another platform from poaching them back? This would help their writers build an emotional investment with them and make them less likely to leave.
Or maybe they're broke at a time when capital is tough to come by and no one wants to lend money to tech companies unless they're AI.
I have no comments on your investment, but I love your writing style as an essayist.
You go from scene to brilliant dreamy big ideas and land the point with action: "So it appears, I thought while taking another drag, that sometimes money is made not through labor, but by aligning oneself with ideas, tools, individuals, and institutions that gain power over time. And isn’t money itself a proxy for things like power and influence?…I wondered if I could somehow invest in dolphins and octopi too, or in aliens, or in some trippy idea like the one about ideas being alive. I couldn’t find anything like that on the stock exchange app."
I found out about this round through this post, and immediately went and made a small investment. Substack's growth is phenomenal and as a writer on the platform it feels right to get involved in this way. For the intellectually curious writer and open-minded reader alike, this is the place to be. Cool to own a tiny part of it.