Substack's new fundraising pitch
Venture capitalists wouldn't give the company the terms it wanted. Its writers might
![Substack's new fundraising pitch](/content/images/size/w1200/image/fetch/c_fill,f_jpg,q_auto:good,fl_progressive:steep,g_auto/https-3a-2f-2fsubstack-post-media.s3.amazonaws.com-2fpublic-2fimages-2f14278a0c-c5cb-4a5b-83ed-596ea8365208_1024x1024.jpg)
Venture capitalists wouldn't give the company the terms it wanted. Its writers might
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