A regular commentator on this blog, who posts using the name Ex-Teacher, but whose name is known to me, said this recently, in my response to my suggestion that I might add Substack to the range of platforms I post on:
Richard, help me understand a bit better.
– recently, upon retirement, you'd said you welcomed the time to think …
– you've more recently said you are v busy (there's a lot going on!)What are the essential differences between Substack and your existing blog?
Would the material essentially be similar/same?
Would the readership essentially be similar?
Can you simply redirect?
What is the driver to utilise more platforms? Wider reach, revenue? Could this be achieved other than by more platforms?
Ensure you have time to stop, pause, think.
I think that these are all good questions, and I am happy to share my thinking because I value feedback from readers here.
Let me deal with the last issue first, which is around giving myself time to think. I recall, only a few months ago, craving this luxury. The pressure of university and other grant-funded work was very high at that time, and as a consequence, I found it challenging to create blogs and videos to the standard that I wanted. There was insufficient time to think, or at least, to manage the thoughts and ideas that I had.
That was one of my major motivations for my so-called retirement, and it has succeeded. I now have very few commitments beyond this blog and its related YouTube channel and almost all my other activities (with Sheffield University, Copenhagen Business School, the Green New Deal Group, as a director of the Corporate Accountability Network, and as a partner in Finance for the Future) have all been closed now, entirely at my choice. I enjoyed all these things, and regret none of them, or what was achieved, but it was time to move on, and to create space for myself.
What I am now, however, finding as a result is that I have got vast numbers of ideas, and new ones are continually crashing into my brain, demanding attention. I am not complaining about that, but what I am also having to do is create new routines in order to manage them. It's an interesting complaint, and one that I am happy to deal with. I am not needing more time to think now; what I now need is a work routine to manage all the ideas I have.
Let me provide an example. It was only last week that I asked for more ideas on videos here, and maybe 80 were suggested. In practice, I very much doubt that any of them will be produced exactly in the form that was asked for, or with the narrow focus that many had. That is because videos have, as I now know, to have a sufficiently broad appeal to attract a wide enough audience to provide us with a return that guarantees that we can keep making them.
However, having absorbed some of those ideas, and having reviewed the 80 to 100 ideas that I already had noted down, I reflected on how to create new videos in a way that will, I hope, appeal to viewers while satisfying my own curiosity, whilst keeping the team here happy, as well as providing us with sufficient revenue.
The last point is particularly important. I have decided to expand our team this autumn, by adding a researcher on what is likely to be a full-time basis, and may be a graphic designer, although they would be a contractor to be used as and when required.
At the same time that all this was being thought about, I noticed the Substack phenomenon of new followers subscribing even though I had posted nothing there at all, so far.
I did, as a consequence, reflect on how to create a new workflow, having also spent some time watching (yet more) videos on how to create a successful YouTube channel where revenues from views alone are not the only source of income. As a consequence, I decided that at least some of our videos need to have a new theme.
It is clear from reading the comments on this blog that there is a strong desire for what are, in effect, targeted educational materials. As a consequence, I sat down and wrote out a list of more than 100 video titles, every one of which was a question. These are grouped around themes such as questions about political economy, issues around money, how to create fair taxation, mechanisms to tackle inequality, how modern monetary theory works, and a number of other topics. Since writing that initial list, around 50 more have been added, and I have not even begun to address issues around savings, investment and related topics.
A work plan was then developed, quite rapidly. This revolves around searching my existing writing on these themes. With more than 23,000 blog posts to draw upon, there is ample material for me to use.
I expect to use AI to produce an initial video plan based on that existing work. That video plan will create a PowerPoint, which I will then edit, as required. As a matter of fact, I am now using PowerPoint as a prompting tool, via a teleprompter, when we are making videos, so this makes complete sense, and speeds up a time-consuming process we are already using. It also means that I do not overlook material I might otherwise forget.
I stress, AI will not write the video, which, as usual, I will deliver unscripted, but based upon the structure that I will have created, to which AI will have contributed by summarising my existing work.
The result will be that we will then have a YouTube video to answer a specific question.
That will then generate a transcript for use on this blog.
What is new is that it is now my intention that the transcript should then be edited to become a narrative chapter on the same theme. It will, in other words, be edited from spoken English into written English without seeking to change the meaning. That new version will then become a Substack post.
Then, in due course, and presuming this works, those Substack posts, which will include reading lists referencing both my blogs and other work, will become chapters in a book, or even books. Whether these would be e-books, like Money for Nothing and My Tweets for Free, which I produced a few years ago, or books that a more mainstream publisher might wish to put out is a matter to be decided upon.
The point is that working in this way means that one idea will produce four outputs:
- A YouTube video
- A blog transcript
- A Substack post
- A book in due course
You could, of course, argue that this is a process involving a lot of repetition. That, however, is how most people learn, and so I make no apology for that.
In this framework, posting on Substack makes sense. I would not wish to post two versions of material on the same theme here. Offering different versions on different platforms is a way to meet different needs and expectations.
I would also expect that the Substack posts would be free, but like Robert Reich and Paul Krugman, as well as Stephanie Kelton, I would keep open the possibility of adding some paid-for content.
Comments are welcome.
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I am 5 years off retirement so will need to get up earlier or start work later to keep up with your already impressive output!
I hope I can be as focused and productive in retirement
I am not suggesting I am normal
The evidence is writing 23,000 blog posts…
All good. Aside from the Substack part. I won’t be reading anything on that platform on account ofnits willingness to host and profit from extremist material.
Same reasons I largely avoid YouTube.
And both platforms are antithesis to a free* and open internet.
*Free as in liberated. Not as in beer. Technology companies have way too much power over us.
Sorry – but I live in the real world
You attitude is akin to blaming paper for what is written on it
Is Substack or YouTube simply a medium, like paper? Or is is more akin a publisher or broadcaster which you can criticise for the material that they choose to put out or refuse to take down?
To be clear, I read some Substacks and watch some YouTube output. I don’t watch GB News and I don’t do Twitter/X, but I do read some of the nonsense put out by the Daily Mail from time to time.
I think as platform providers they are fairly neutral.
X ceased to be when Musk took over.
Respectfully, I disagree. It is not like blaming paper, the 1s and 0s in a blog post are not at fault for hate. Rather it is like blaming a particular bookstore. If you want a book, but don’t like one shop, you can shop/sell your books elsewhere. This is the reason so many people quit using twitter/x. There are other publishing services available.
That aside, if you really did want to post there I’m not really sure what value you would get from it. It is a blog hosting platform, and you already have your blog here. I get using bluesky/mastodon to boost links to your blog and game the network effect, and youtube makes sense as that is a separate service for hosting video which you can’t do as easily on your blog. But substack is basically the same as what you’re already doing. The fact that people are following you on substack despite you not using it would, to me, suggest they’re already getting what they need from other sources.
I admit I do not follow your logic.
Why would someone follow me if they were already getting what they wanted?
My thinking is that if they’re following even though you’ve not posted anything, they must already know who you are and enjoy the kinds of things you post. Why else would you follow someone? And if they already know the kinds of things you post, then they must already be getting that from some other source.
The alternative is it’s accounts following you that don’t know and enjoy the kinds of things you post, in which case I wouldn’t think it makes sense to put the time and effort into posting there. But I guess it depends on how easy it would be for you. If it’s just copy and pasting existing blog posts, maybe a potential new audience might be worth it.
I enjoy all your output and admire your now even greater commitment to producing it. As to why someone would follow you if not already getting what they wanted. I have an Instagram account – a side effect of having a Facebook account when at some point they became effectively a shared platform. I have a long list of followers, despite never having posted anything on there. I get the distinct impression that when Instagram recommends me to someone because of “people in common” / “people you may know” then for many people it’s almost an automatic reaction to click “Follow” and add me to their list. It’s hard to imagine that they’d bother if took a moment to look at my account and note that there’s nothing to see.
I think you mentioned the other day that your increased follower count on Substack was assumed to be because someone else had mentioned you. So I’d guess that lots of people had mindlessly clicked “Follow” (or however you do it on there) for the same reason.
Maybe
I do not know
Tremendous! I come back nearly every day for information, analysis and education, but it was the latter that led me here in the first place. I would make a plea to Thomas to put in graphics that illustrate data and ideas. As someone with a brain that gets distracted by further ideas when trying to pursue one, I am in awe of how you’ve tamed the torrent. I hope down-time is built into the plan?
It is….
One unexpected benefit of AI, I’ve found, is that, at its current stage of development, it sometimes makes mistakes. That makes me engage more fully and keeps me on my toes, leading to a better outcome. It’s not totally unlike being back at work! So I’d say use it sometimes, and let’s hope it’s never made perfect.
Agreed, entirely. It helps when I know my own work and know exactly when it ahs made a mistake.
You can do what you like – I’m still coming here and that is enough for me for as long as FTF/TR is still here.
🙂
I suspect many will only access one platform.
A couple of thoughts.
I’m doing quite a lot on Substack, although writing about music not economics or politics.
It’s worth opening the paid option. You don’t have to offer anything extra to paid subs (unless you want to) and you don’t have to put up a paywall. Some people will pay as a mark of appreciation.
Regarding the followers even though you’ve not yet posted anything. I’m one of them. Substack suggested I follow you, so I took it as an indication you were planning something and followed. Pleased to see you are planning something.
If anyone’s interested, I’m at https://iansharp.substack.com.
Thanks Ian.
That’s helpful.
PS You wouldn’t be a Genesis fan by any chance?
I’m the same as Anne S in that I originally started following your blog primarily for education and understanding. At the time, specifically MMT. I have since come to very much enjoy and appreciate your analyses across a wide range of political economy as it clear that you and the many other contributors to this blog really do care, as I do, about inequality and poverty.
Over the past year it has also become very clear to me that you are one of the few that has grasped that in order to effect any change the videos and transcripts need to be understandable by everyone. Not everyone can follow Stephanie Skelton or Steve Keen!
In terms of where and in what format your output could and should be posted in order to maximise audience and hopefully generate change; I think your plan as outlined above will work.
I would add, and I know this would be way down the track, but have you thought of creating your own App? Purely and simple so that your output in all its formats could be easily accessed by all, all in one place with whatever links etc and options for paid content
Thanks, and I had not thought of that. I have a bit of an aversion to apps…..
Would people use it? I am not sure.
Phew! I’m exhausted just reading what you’re planning! 🙂 Thanks for outlining – How well you’ve thought it through. Thanks for sharing, Richard. And I appreciate you won’t be writing on Substack and putting up a paywall. I wouldn’t be able to afford to pay a subscription, even though I’d like to support you.
My aim is t9 keep the writing free.
That is why I have to use YouTube ads to support the work.
Just a brief reply ( because I spent the day dealing with the inane UK conveyancing system!)
Lots of interesting ideas here, Richard. The real challenge will be to build up a UK-wide daily left wing online publication with a staff of at least 25 (paid and volunteer) to start to challenge The Guardian for impact and influence. A hub for debate. Only a collective project could pull that off.
Then the individual blogs and substacks could be retired.
Alan Story THE LEFT LANE substack
🙂
Just to say that Substack has a nazi problem
https://www.theatlantic.com/ideas/archive/2023/11/substack-extremism-nazi-white-supremacy-newsletters/676156/
Here is Jonathan Katz’s newsletter:
https://theracket.news/p/substacks-nazi-problem-isnt-going-away
I looked at the first.
I see the issue.
But the issue is everywhere. What are you suggesting? That I cease publishing? No doubt my web host also hosts Nazis, as does WordPress, I am sure.
Do we run way, or fight them?
Hi
Please keep posting.
Just tread carefully in contentious areas.
Cheers. Andrew.
Why?
All sounds great, Richard, and your “retirement” sounds like you’re going to be doing *more*! But more on your own terms, which is great.
I’m almost ready to launch my new political economy blog (focusing on what’s wrong with economics and politics, and how we might start to sort it out” – it’s going to be called Exonomics. When I’m up and running – in the next 2 weeks hopefully – I’ll let you know. Exonomics is going to be hosted on Ghost, which some people have recommended to me as an open source alternative to Substack.
Howard
Do keep me posted. You might get some publicity…..
Richard