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I agree with pretty much everything here, except the API part. Sure, can be expensive to build, but I think in this day and age, not exposing APIs is a bit of a questionable decision.

I'd say APIs enrich any platform—allowing users to add value on top of an existing feature set, in ways that a core team would never be able to. Plus, given that Substack caters to a wide and multiple cohorts of writers, they'd never be able to satisfy all types of writers. Only way is to allow users to build their own specific features on top.

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