Potential Substack Issue and a Request
It has come to my attention that Substack is hemorrhaging money. Here is a link to an audit of their operating income on SEC.gov. As you can see on page PS-6, their net income (red box below) was over $22,000,000 in the red for the fiscal year 2021.
Substack continues to add features as if everything is going great, but without seeing their income for 2022, one might wonder how long they can operate while losing tens of millions.
To be clear, I will continue to publish my early episodes and articles here on Substack. I plan to stick it out with them to the very end and pray that they succeed and thrive for 1,000 years. Substack has been extremely good to me and other content creators who have been censored on various platforms. I WANT Substack to SUCCEED!
Because of your generosity, I am able to do my podcast and write this blog full-time. However, as a considerable percentage of my income is generated through the Substack platform, I must also be realistic. If I wake up one morning and Substack has been shut down, I will be devastated financially. Some may think that I am getting rich doing this, but nothing could be further from the truth. Some months are better than others, but much of the time I’m squeaking by. Like so many of you in this time of rising costs and record high inflation, I have reduced my discretionary spending and curtailed traveling. And because I recognize your generosity is why I am able to do what I feel called to do full-time, I have been concentrating on work and building the reach and content of both the podcast and Substack to continue earning your support.
My plea to you is that if one of these days we wake up and Substack is gone, that you would continue to support me. My website has a monthly recurring and yearly payment processor, which can be accessed here. You can even choose to continue to support with the same amount you do via Substack by selecting the lowest level and then choosing the "Name Your Price" option. It’s easy and uses the same processor as Substack.
To replace what I post on Substack, my personal website can work as a blog, and I would continue to pump out the same amount and level of content as I do now. And I can get you those early episodes as well.
So, that’s it. I’m generally uncomfortable asking for money, so this was weird for me. I don’t know that I’ll ever be able to fully thank you all for your continued support. I am floored every day. From the bottom of my heart, thank you. And Kelli thanks you.
Onward and upward! Let’s build!
Love,
Pete
As long as i can afford to i will try and support you. You helped me (and countless others) in times of spiritual need. Least we can do is try and suport you financially.
I will continue no matter where. Don’t feel bad about asking for support. Your work has value for us, otherwise we wouldn’t be here. You are being rewarded for the intellectual value you provide. I would feel guilty listening to your content and not rewarding you, like taking something for nothing. So, this is a two-way street. I understand people can’t give to every podcast they listen to, but generally it feels good to reward those whose work make a difference in our lives, and yours definitely does.