This reminds me of the developer who made a fortune by having the first Tetris clone in the App Store, in 2008. In every new, empty channel, the first people to offer something good can get flooded. Once the channel fills up, all the dynamics change. https://www.nytimes.com/2020/12/27/business/media/heather-cox-richardson-substack-boston-college.html?smid=tw-share

This happened to SEO, SEM, Facebook, Instagram, podcasts, D2C, Youtube, Tiktok and now newsletters. This is the cycle of life on the internet - any tool that makes it easy for everyone to create and reach an audience... also means you're competing with everyone.

(and yes, Captain Pedantic - email newsletters per se are not new. Easy, paid ones for people who don't write code are new)

So do you do when you have 100m users and 1m creators? Your leader boards break, and search probably breaks too. What do you do? Apple was paralysed by that for years. Yahoo's directory was killed by search. FB built algorithms. Now see Clubhouse and Substack

That isn't just a high-quality problem. 'What happens when there is more stuff on your platform than anyone can look at?' is an essential, existential question - it can define the whole of what your product really means.