Legacy media vs Substack?

Jim O'Shaughnessy discussed the ongoing shift from traditional legacy media to platforms like Substack. He highlighted a few key points:

1. Increasing Shift: Journalists are leaving traditional media outlets, which were already evolving from legacy media, to platforms like Substack. For example, Matthew Iglesias left Vice to start his own Substack channel because he found traditional media too bureaucratic 1.

2. Changing Dynamics: The move to Substack reflects a broader change in the media landscape. Historically, journalists might not have made much money but gained influence and access to influential people. This hierarchical structure is diminishing 1.

3. Future of Media: O'Shaughnessy believes that individual channels like Substack represent the future of media. This shift is causing significant concern among traditional media entities 1.

Therefore, platforms like Substack offer more autonomy and potentially greater revenue for journalists, contrasting sharply with the more structured and bureaucratic nature of legacy media.