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This week at Social Leverage...

This week at Social Leverage...

The Social Leverage Letter | Issue #182

Ethan Berk
April 13, 2025

Get smarter faster with our curated list of thought-provoking content for founders and investors:

3 articles, 1 podcast & 1 video

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READING

I. Former Substack creators say they’re earning more on new platforms that offer larger shares of subscription revenue

Former Substack writers report earning more on alternative platforms like Beehiiv (Fund IV), which charges flat fees instead of taking a percentage of subscription revenue. The switch was driven by both financial benefits and concerns over Substack's tolerance of extremist content.

Former Substack creators say they’re earning more on new platforms that offer larger shares of subscription revenue

Former Substack writers who exited the platform in early 2024 are making more money on Beehiiv and Ghost thanks to their fixed pricing models.

II. $$$ Flowing into Wealth

VC interest in wealthtech remains strong, with Ethic raising a $64M Series D led by State Street. This is notable for Social Leverage, as it aligns with our investment in Seeds Investor (Fund IV), a full-stack wealthtech platform gaining traction among advisors seeking modern, customizable solutions.

$$$ Flowing into Wealth

III. SELL SELL SELL (more tickets)

Ticket sales dropped 20% last week amid a market dip, but comedians who emailed fans only saw a small decline, and those who posted content on Punchup (Fund IV) saw a 41% increase. The key takeaway: email helps drive short-term sales, while posting content on Punchup boosts visibility and long-term ticket growth.

SELL SELL SELL (more tickets)

What We Learned from Last Week’s Ticket Sales Dip Last week, we saw a 20% drop in ticket sales across all comedians on Punchup compared to the previous week (March 30 – April 5 vs. March 23 – March 29). The timing tracked almost perfectly with a broader stock market correction,