[Sara Fischer at Axios]

"Beehiiv, a newsletter startup taking aim at Substack, says it's making a "multi-million dollar investment" to create a new "beehiiv Media Collective" of journalists on its platform."

Beehiiv's new fund for independent journalists will give them a monthly health insurance stipend and pre-publish legal review support. There's also Getty access and deeper business strategy report. It's actually kind of remarkable - and a clear shot across the bow to competitors like Substack.

More competitors to Substack - which famously has supported actual Nazis - can only be a good thing. The real question is how long this fund will last, and whether the journalists who take advantage of it will sink or swim when it inevitably comes to an end. Hopefully everyone who takes part uses the time to become self-sufficient.

#Media

[Link]