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We spoke with Terry Nguyen of gen yeet, a newsletter about Gen Z culture, memes, and trends. Her honest and thoughtful writing covers youth culture on the Internet, technology and consumer trends, and generational commentary – all with the goal of demystifying and humanizing Gen Z.
While Terry’s day job is writing at Vox on cultural trends, she started her newsletter because she wanted to share “a Zoomer’s perspective,” pushing the narrative around how people consider her generation and what it’s like to be a young person today.
We talked about differences in media coverage toward Millennials and Gen Z, the relationship between Terry’s writing for Vox and her newsletter, and why it’s important to reframe how people think about specific generations.
Links
* gen yeet, Terry’s newsletter
* Terry on Twitter
* Gen Z Will Not Save Us, Charlie Warzel’s opinion piece in The New York Times
* Rebecca Jennings and Taylor Lorenz, cultural reporters who write about Internet culture
* normal beautiful people, Terry’s post where she writes about getting tired of TikTok
* Why millions of college students and young adults won’t get a stimulus check, Terry’s Vox piece about coronavirus’ impact on college students
Highlights
* (07:55) The contrast between media coverage of Gen Z and Millennials
* (18:17) How Terry balances analyzing the world through her personal lens and synthesizing the bigger picture
* (21:05) Why Terry chose to focus on one topic, and what Gen Z thinks about Substack
* (32:45) How Terry balances writing for her full-time job at Vox and for her newsletter
* (39:48) Emerging Gen Z themes
On writing about a topic instead of herself:
I felt like writing about myself would be really boring. I don't think anyone would be interested in what I'm doing. I don't have any fascinating hot takes. I did feel like centering around a topic, and especially a salient topic that wasn't too niche that could be expanded upon, like culture and technology and memes...I felt like that just gave me a lot of room to latch onto whatever interested me.
On the long-term relevance of writing about Gen Z:
I don't know when the conversation will shift. But I do think having a pulse on youth culture while I'm young is an interesting thing. I don't know how I’ll feel about it when I'm like 35, I haven't really thought deeply about the future of that yet. But I do think there is a period of time, very certain key social and political events that define every generation, and I hope to be around for the one that defines Gen Z.
Transcript
Nadia (00:29):
Something I really like about Gen Yeet, just from reading through it, and maybe this is the perspective of a millennial coming through, but it seems like a lot of people that write in public about Gen Z are trying to make it seem really cool and mysterious and hard to understand, because it's, I think, that illegibility that builds their brand and makes them this go-to expert on this topic. Even when it's this earnest take, it seems like it's sort of ... I get the sensation of a bemused tourist looking at a rare species at the zoo.
What I really like about Gen Yeet is that you don't do that. You write these really thoughtful essays about Gen Z that aren't really trying to be overly cool or hint that you know more than the reader. You're just a person who understands the stuff and is thinking and writing about it. Does that analysis resonate? Can you say a little more about your writing style?
Terry (01:23):
Yeah, so what was really interesting to me, in the past year, since I started to create this newsletter, was that Gen Z and youth culture on the internet at large got a lot of attention from a lot of major media publications. It's kind of shocking to see how much more people are now covering that space. For me, my goal has always been to sort of demystify and make it seem like, oh, Gen Z, as with all generations, are just humans. We're socialized during a specific period of time, but I would say that the way we see the world is also very similar to the people before us, because our parents and our teachers and our brothers and sisters are also Millennials, Gen Xers, or Boomers.
Terry (02:06):
My goal with this newsletter was to give it a little voice, because I felt like a lot of, as you mentioned, the reporting was just sort of earnest. Within the past couple of weeks, we've really seen this sort of explosion into the political mainstream as well, with them realizing, oh, TikTok has political power, and Zoomers know how to organize. My goal is just to really be approachable and be someone readers can relate with, as well.
Nadia (02:35):
Can you talk a little more about the move into the political sphere? I think there was the Trump rally, maybe, that happened recently. Is that sort of what you were thinking about?
Terry (02:45):
Yeah. AOC, Representative Alexandria Ocasio-Cortez, tweeted out when the Trump rally sort of ... There was this news that K-Pop stans and teens on TikTok kind of merged forces to reserve an overwhelming amount of tickets for a Trump rally, and it turned out to be the day of, that not a lot of people were showing up, and a lot of people from the resistance, people from the left, were really excited to see this sort of youth activism. I really think that was the first time that a lot of people came to think that, oh, these platforms and these sort of apps and communication styles can serve a political purpose. There's a lot of fascination and a lot to dissect from that. But right now, I think, this sort of mainstream narrative, although there have been writers who've come out and said to be wary of saying that one generation is politically inclined.
Terry (03:43):
I do feel like people have this impression that Gen Z are really liberal or even really radical because of the period of time that we grew up in, but I do feel like that's going to be a topic of discussion probably in 2020 and beyond. I feel like 2016 was the first election I was able to vote in, but 2020, there's definitely more younger people than me who are able to vote, so I do feel like this topic is going to gain a lot of relevancy in the coming months and years.
Nadia (04:19):
My first perception of people talking about the power of apps and software tools that we have to play a role in the political sphere started in 2016-ish. My sense of it early on was that a lot of it was almost sort of nefarious and talking about, just like outside interference, and how are these things being manipulated to control us unsuspecting people, or whatever. It's interesting to hear your take on the Gen Z lens of, it sounds like maybe it can be a positive thing of, oh, there are people who understand how to use this in interesting ways that maybe we don't understand, which is similarly still just like fetishizing, I guess, but maybe has a more positive spin on it.
Terry (05:05):
Right. I do feel like it is a double edged sword, because people are now thinking more critically about how tech platforms are being used. For Gen Z, a lot of us, kind of, are digital natives, depending on how young you are. You might have always been acquainted with the internet or have always had a smartphone, even when you were like, I don't know, 10, 11 or 12. I personally did not have a smartphone until I think I was 14, but still, that's, for a lot of older people, this technology is relatively new. I think we're all discovering the potential of it. That's where it's a little concerning and a little like, we don't know what the unknown is going to be like. I do feel like Gen Z is on the horizon of pushing the boundaries of what can be done with being online, through youth activism, organizing groups using tools like Google docs, or Google sheets to organize information and make it more accessible for other people.
Terry (06:07):
We definitely saw a lot of that around the Black Lives Matter protests with a lot of people sharing information. But I do feel like a lot of these tactics and skills were also adapted from the early users of t…
We spoke with Fiza Pirani of Foreign Bodies, a newsletter that destigmatizes mental illness, centered on immigrant and refugee experiences. Fiza’s created a community of people who resonate with her vulnerability and mission to give a voice to populations that aren’t typically featured in mainstream media.
Fiza was born in India and lived in Saudi Arabia before moving to America, and she personally struggled with depression and a lack of belonging. As a journalist, she felt compelled to write for an audience who might share similar feelings. Fiza curates essays and the latest news coverage on the immigrant experience and mental health. She also shares personal stories and photos, expert interviews and research, and community resources and shoutouts.
We talked to Fiza about her personal experiences with mental health, why her writing appeals to a wider audience beyond immigrants and refugees, and how she builds trust with her readers by being vulnerable.
Links
* Foreign Bodies, Fiza’s newsletter
* Fiza on Twitter
* Issue #14 of Foreign Bodies, which features psychologist Sharon Lo’s advice for having conversations about mental illness
* How Telling My Immigrant Parents I Contemplated Suicide May Have Saved My Life, Fiza’s Teen Vogue article
* The Carter Center’s Mental Health Journalism Fellowship, which helped Fiza launch Foreign Bodies
* How not to be sad, Laura Deming’s article on sadness
Highlights
* (02:29) Why Fiza left her traditional newsroom job to start telling immigrant stories
* (14:39) The meaning behind the name of Fiza’s newsletter, Foreign Bodies
* (19:57) Why mental health is particularly challenging for those who don’t feel like they belong
* (38:34) How Fiza launched Foreign Bodies through a reporting fellowship
* (42:13) Common challenges that mental health journalists face
On talking about stigmatized issues:
There are discussions that I feel like I haven't really been able to have growing up—maybe they've been stigmatized—about mental illness, about identity, so that connection is definitely very intimate for me.
On publicly sharing her personal story:
I felt like I had a story that needed to be told, and I think almost everyone has a story that they feel needs to be told. And it really was just about being okay with publicizing that and letting your vulnerabilities be on the screen or on paper or wherever you want to pitch your story.
On feeling a lack of belonging:
The only word that I've really been able to associate my identity with is the fact that I've always felt foreign.
Transcript
Nadia (00:42):
We'll get into Foreign Bodies itself in a bit, but I'd love to start by just having you talk about: how did you arrive here from a personal standpoint, why is this topic important to you?
Fiza (00:53):
Oh, man. Let's see.
Fiza (00:58):
Well, I, myself, am an immigrant, so I definitely ... There are discussions that I feel like I haven't really been able to have growing up, maybe they've been stigmatized, about mental illness, about identity, so definitely that connection is definitely very intimate for me. I was a journalist, or I am a journalist, but I was with the newsroom for about four and a half years.
Fiza (01:30):
And I always knew that writing was in my blood. My mom is a storyteller, my daddy, my grandma is a big storyteller, will remember everything about everything. And I definitely feel like once I got into the industry, I noticed there was a huge focus on audience and catering to an audience, your audience are subscribers, the people that have been loyal to you.
Fiza (02:03):
And what I quickly noticed was there wasn't so much of an emphasis of that immigrant audience, which makes up such a huge portion of the American population. And the more I researched, the more I realized that there really are very few publications, at least in mainstream media, few focuses on the immigrant experience at all.
Fiza (02:29):
And I remember when I was in the newsroom, I left almost a year ago-ish. I left because I was getting burnt out, like completely. And one of the things that was burning me out was not being able to feel like the people from my background, my fellow immigrants, they weren't really being heard by mainstream media, which I was a part of, but I felt kind of helpless.
Fiza (03:03):
And all that after 2016 kind of started weighing pretty heavily on me. You had the travel ban, you had the women's march, you had so many social issues kind of like building up. And not really feeling like you have much of a voice when you're a part of the free press in America, kind of added to the burnout that I was already feeling as someone who lives with depression.
Fiza (03:34):
And for me, I felt like the only way to combat all of it was to have some kind of departure, and I don't know, figure out how to do something on my own, and that's how I ended up saying goodbye to that full-time journalism position and figuring out what to do next and how to incorporate the immigrant audiences across the country and helping them have their voices heard.
Nadia (04:09):
That's really beautiful, I love hearing that. It's interesting, I'm also a child of two immigrants and I feel like I often connect with people across a lot of different cultures from this immigrant experience of either having come here when they were young or being born to parents who came here.
Nadia (04:33):
And it is actually a very pervasive experience throughout the US, and I also think the immigrant experience in the US is particularly unique in that I just feel like there's nowhere else that gives you a shot at being American in the way that we extend to foreigners.
Nadia (04:54):
And so part of me is like, it's so cool that I feel totally 100% American and almost even more American, because I have immigrant parents, it's like it is the quintessential American story. And then in other ways it's almost like you get so assimilated that way that people sometimes forget that you're not just like them or you have this different background.
Fiza (05:18):
Yeah, and what's interesting is like what you were saying earlier, the experience is so pervasive that even if you're a first generation or a new immigrant, there are some things that somehow we're all kind of dealing with, or it's a foreshadowing of what we will deal with, like the future generations.
Fiza (05:37):
If you're a new immigrant, what you're experiencing, nearly full assimilation, is like what they can expect their great grandchildren or their grandchildren or their children experience. And so there hasn't been a significant amount of research on how we cope with the differences across generations, but as you said, it's so pervasive.
Fiza (06:02):
Like we know what to expect if you've been here for a long time, which I find really interesting. Each new immigrant generation still struggles with the same issues despite us kind of having a blueprint of how it's been.
Fiza (06:22):
And what you mentioned about how America is like so, I guess I won't say welcoming to immigrants, but we do encourage foreigners to assimilate in a way that makes everyone comfortable, but then nowadays you question: who is it really making comfortable?
Fiza (06:49):
And so, yeah, I mean, that's what I thought of when you mentioned how assimilated you feel right now. Because at least for me growing up, like I was born in India and I left for Saudi Arabia when I was not even a year old. And before coming to America, I spent like four or five years in Saudi Arabia, so that's where I learned English for the first time, and I attended an American school there. And when I came here, I just couldn't ...
Fiza (07:25):
Like just growing up, I struggled to find my footing here. I felt like I was so disconnected from Indian culture. I didn't even spend like a month there or more than a few months in India before I left. I definitely didn't feel connected to Saudi Arabian culture. We left because we didn't have religious freedom there.
Fiza (07:54):
And then when I was in America, we traveled all over the place to he…
We spoke with Francine McKenna of The Dig, a newsletter about accounting, audit and corporate governance issues at public and pre-IPO companies. Through her newsletter, Francine analyzes the most widely-held and widely-shorted companies in the world.
After two decades of working for companies like KPMG and PwC, Francine’s original goal was to write a book. She started an anonymous blog, just to help her get material on paper. Over time, she amassed such a loyal following that she quit consulting, fully dedicating herself to her newsletter as an independent journalist.
We talked to Francine about her career journey from accounting to journalism, her rigorous approach to writing and research, and how she grew a loyal following of readers across her blog and newsletter.
Links
* The Dig, Francine’s newsletter
* Francine on Twitter
* Matt Levine, a business journalist that Francine admires
Highlights
* (06:20) Why Francine became an early Twitter adopter, even though others in her industry avoided it
* (09:27) How Francine grew her audience, despite starting under a pseudonym, by analyzing metrics and reaching out to readers
* (17:34) How Francine keeps up-to-date by developing meaningful relationships within the world of academia
* (29:26) Francine’s transition from blogging to writing a newsletter
* (41:43) How Francine differentiates paid vs. free content
On writing for herself:
Frankly, I wanted to just write what I want to write, the way I want to write it. I like writing long, I like writing detailed. I like writing for an audience that already knows that they want to read what I want to read. I'm not interested in converting the unconverted, but I'd be glad to teach those who are willing to learn.
On the loyalty of her audience:
I have students who were just seniors in college or just about to embark on their career when they first started reading me. Now they're partners at the firms or they're professors in the universities. I've been at it long enough that I've seen people grow and they've seen me grow.
Transcript
Nadia (00:34):
You write The Dig, which you describe as digging into accounting, audit, and corporate governance issues at public and pre-IPO companies.
Francine (00:43):
Yes, it's very similar to what I've been doing for the last 15 years in terms of writing and journalism. But I put a new brand spin on it for my Substack launch.
Nadia (00:56):
Awesome. I'd love to dig into, I'm going to be saying that a lot probably, dig into your background a bit since you had an entire career it seems. Several decades working in public accounting at KPMG and PwC, and all these big firms. Then you later went on to become an investigative journalist. You've had multiple careers it seems like. How and why did you make that transition from working directly in accounting to becoming a journalist?
Francine (01:27):
Sure. I like to say that journalism is my second profession. Because accounting, being a CPA, is my first profession or at least my original one. If you're an accountant, you're always an accountant. Now I'm using that subject matter expertise and writing about it instead of doing it. But I had been working in industry, in banks, and then in KPMG, KPMG consulting, its spinoff, BearingPoint. I worked in Latin America for a while. Then for PwC was my last job with a firm. I left PwC at the end of 2006 thinking I was going to write a book about the accounting firms in the global financial system.
Of course, that went over like a lead balloon with agents and publishes. They wanted more sex, drugs, and rock and roll. I thought, well, I should start a blog in order to start getting some of that material on paper. Sort of see what people were going to respond to. I started a blog first on Blogger, which is the pre-Google Blogger version, anonymously. I was doing it sort of still thinking I was going to go back and work at a firm or at a company in the kinds of roles that I had been working before. A little worried, like all accountants are, about your reputation and getting on the blacklist of people who are not on the right side of the firms.
I started it anonymously at the end of 2006, beginning of 2007. People started emailing me like, "Who are you?" Including from outside the U.S., because I was talking about the firms from a very critical perspective. The big four public accounting firms and their consulting arms: PwC, Deloitte, Ernst & Young, and KPMG. Very few people have the freedom to talk about sort of the inside, the business end of those firms. Because you're usually either working for them or you're working for a company and you're dependent on them. Or you're somehow in the ecosystem of lawyers and the consultants, who are also dependent on their good favor.
Very few people actually know what goes on inside the firms and are free to talk about it. People were really curious and then I realized, why am I writing anonymously? How am I going to get a book deal from writing a blog if people don't know who I am? I'm going to have to stand by my opinions. I put my name on the blog and it's called re: The Auditors. R-E, The Auditors. Like in re: a litigation, or in reference to the auditors. I started writing and lo and behold, that was the beginning of 2007, 2008. We started having issues with the subprime and then the financial crisis.
The expertise that I had became very much in demand. Very few people could explain all the complex accounting and the role of the auditors in all of the different banks and companies that were under stress. At a certain point, I was at the point of no return because I had been so critical and had been talking so frankly about what was going on that nobody was ever going to hire me back in the firms or anywhere else. I had to just go forward and try to become a journalist and I approached that from the same sort of professional perspective that I did my previous career. And tried to learn from the best people and work for the best editors, and eventually ended up in a full-time role at MarketWatch in 2015 here in Washington, D.C.
Nadia (05:41):
Wow, it's funny hearing you talk about it. I didn't realize I guess that your blog was anonymous at first. It seems like there was this pattern of behavior. We have a couple of other Substack writers as well who write anonymously. And people who write in saying, "Can I start my newsletter anonymously?" I've seen it with sort of these industry insider kind of publications and writing. Have you seen this happening with other I guess anonymous Twitter accounts or blogs? It's just sort of I guess interesting to think about. Maybe in the past you had a whistleblower source that would go to media.
Francine (06:17):
Sure.
Nadia (06:17):
Whereas now people are just kind of doing it themselves and staying anonymous.
Francine (06:20):
Sure, sure. Well, I was a very early Twitter adopter. I've been on Twitter since April of 2008. Again, because as an independent journalist, I needed a way to promote my work, to let people know I was writing and what I was writing about. Some of my old technology consulting friends who were on Friendster said, "Oh, Twitter is a cool place to go. You need to go there and you can connect with people." No one was there. I mean, no journalists, no accountants and auditors for sure. No lawyers, all of the people that were afraid of social media stayed away for a while.
But for me, it was a really good place to promote my work. I would run into people all the time, the accountants and the lawyers and the auditors and other... and then eventually the traders who started taking advantage. It was an early site that's still around, Stocktwits, which allows for... was using Twitter tags in order to sort of pull in information that people were posting on Twitter about individual stocks. That's much more sophisticated now. But the idea was people wanted to be anonymous because they had regular jobs.
They were either worried about saying something negative and getting fired or saying something that was c…
We spoke with Zach Haigney of The Trip Report, a newsletter covering the business, policy, and impact of psychedelics.
With a background in clinical research and acupuncture, Zach has closely followed the psychedelics industry for years. As the topic started to gain momentum, he was inspired to write about it. Zach covers not just the business and policy landscape, but also the science behind psychedelics and their long-term cultural impact. These diverse focus areas have allowed him to gain a variety of readers, from psychedelic enthusiasts to investors, researchers, and clinicians who are building the emerging psychedelics ecosystem.
We talked to Zach about why he’s excited about the psychedelics industry, his early days of writing his newsletter and building his audience, and why he believes independent publishing is so important.
Links
* The Trip Report, Zach’s newsletter
* Zach on Twitter
* Multidisciplinary Association of Psychedelic Studies (MAPS), an organization that has been studying psychedelics since 1986
* How to Change Your Mind, a book by Michael Pollan about the science of psychedelics
* 60 Minutes, an episode on how researchers experiment with psychedelics to treat addiction, depression and anxiety
* Psychedelics Today, a podcast on how psychedelics relate to human potential and healing
Highlights
* (10:47) Why psychedelics are a hot topic right now
* (21:55) Why Zach believes independent publishing is important
* (27:40) The Trip Report’s community of readers and subscribers
* (36:42) How Zach grew his newsletter list, despite not having a preexisting audience or social media following
* (41:59) How Zach powered through writing in the early days and learned from other newsletter writers
* (47:12) Why Zach decided to start a paid newsletter
On social media:
Social media is a weird place. I don't know how to navigate it. I feel much more comfortable in the confines of a newsletter. The medium of the newsletter, where you're going to somebody's email is really ... it makes sense to me. I get it and I love it.
On imposter syndrome:
If you can use imposter syndrome when you're writing your newsletter, it's a great tool because it forces you to think about what you don't know, and use that to flesh out the questions of what you don't yet understand. That's great fodder for, at least, what I'm trying to do.
Transcript
Nadia (00:42):
First question, which I'm sure a lot of people ask you, is how did you start writing about psychedelics?
Zach (00:50):
I've been watching the development of a few of the organizations that have been funding the science. There's been some research over the last 20 odd years or so of really small studies of looking at psychedelics for things like depression and cancer-related anxiety and some other indications. They're really impressive results for really challenging conditions. I've been watching this and watching it grow and I felt I missed the boat of a career of being involved in this space. I knew I wasn't going to go back to school to be a scientist or I didn't quite know how to get in. I started writing about it. Here we are.
Nadia (01:36):
Love it. I mean, it seems like you have been involved or in and around both Eastern and Western medicine and that you have an ongoing interest in the human body. I guess psychedelics helps bridge that gap.
Zach (01:50):
I spent my first stint in a career in clinical research right out of college. I did HIV and Hep C clinical trials. I managed what's called an expanded access program in phase two pharmacokinetic studies. That was really cool. I was planning to go to medical school and be a doctor. Just through whatever circumstances, I decided, at some point, to pursue acupuncture and Chinese medicine. I went to acupuncture school. After that, I did have a brief stint in Silicon Valley. That was a huge embarrassing failure.
Nadia (02:30):
Yeah. Been there.
Zach (02:32):
But yeah. I've been working with patients primarily for conditions like chronic musculoskeletal pain for the last five or six years. My research into the workings of the nervous system and pain brought me back into understanding psychedelics from a scientific perspective. It's really interesting. I thought I had this audacious idea that I might be able to offer some insight in that. Because I think that there's a lot of overlap and a lot of similarities, psychedelic as tools for spiritual development and as medicines goes back thousands of years across cultures. There's some parallels between that and Chinese medicine that I'm really interested in and I've just started to explore in the Trip Report.
Nadia (03:33):
Where do you see psychedelics fitting in? Since you've been around both clinical research and Chinese medicine, is there an ideal, I guess, in terms of whether you would like it to be taken into one of those specific disciplines or how you would like the world to see and treat psychedelics?
Zach (03:52):
Well, that's the $64 million question. What I've been thinking about is I'm covering the news that's coming through, especially in the business and the policy side of psychedelics. But I'm also trying to generate, just collect themes or concepts or ideas. One of the main concepts that we're grappling with or thinking about or communicating about is the different ways that this grows. We have what's happened recently in Oakland and Denver where there's been a decriminalization or really a deprioritization of psilocybin in Denver, and then entheogenic plants or things like Ayahuasca, POD ... or maybe not POD ... psilocybin in Oakland. That's one of these vehicles, so to speak of broadening access.
Zach (04:54):
On the other end of the spectrum is the FDA route. There's a few companies and nonprofits that are developing pharmaceutical grade psychedelics for prescription use. That's this really interesting area where there's going to be tradeoffs and pros and cons to all of these different means of changing policy and stuff like that. The way I'm thinking about it is there's two ... My perspective is I like decriminalization. Portugal has been this model for drug reform, where they've decriminalized all drug use. You're not going to go to jail for possession or intoxication, perhaps, maybe but drug possession has been completely decriminalized. You have this opportunity to rehab people rather than put them in prison.
Zach (06:04):
Anyway, the opportunity, I think, to conduct psychedelic assisted therapy, or guide, or journeys in a nonmedical context I would really love to see. That's where it might resemble more like a Chinese medicine and acupuncture approach. On the other end of the spectrum is the opportunity for the FDA to say, "The science looks great. Let's approve this as pharmaceutical grade drugs." That would then be delivered in a more conventional medical setting. I think it's going to take some time for these different options to grow and to blossom. But I'm hoping that there's a diversification and some diversity within the ways that people are able to access and use them.
Nadia (07:02):
It's simple. But there's this toeing of the line of wanting to frame it in medical terms to establish legitimacy, while also not doing a disservice to the nature of psychedelics, which inherently does have this spiritual aspect to it that a lot of people find very fulfilling. Are there learnings from what's happened with cannabis research, which is ... I’m just like a casual connoisseur of information in both these realms, but it seems it's a little bit further ahead. Is there anything that parallels what's happening in cannabis with psychedelic?
Zach (07:40):
From the science perspective, the body of literature in psychedelics is much larger and more expansive than we have for cannabis. That has to do with issues around funding and regulation and access to that scientist can get access to cannabis. It's a really weird, bizarre thing where they can only get it from a university that's growing in Alabama or Arkansas or something. Whereas psychedelics, it hasn't had…
We spoke with Kevin Muir of The MacroTourist, a newsletter about trading and investing that aims to make finance fun.
Formerly a proprietary trader, Kevin quit his job at a bank in the early 2000s to start working for himself, and he still trades his own capital to this day. Kevin started keeping a journal about trading, but so many people asked for his opinions that he decided to share his writing publicly. Today, he shares his passion for the markets with a loyal following of paid readers, who love his almost-daily updates on his trading portfolio and breezy, irreverent writing style.
We talked to Kevin about his motivation to write about markets, how he differentiates his content from others in the finance blogging world, and how he transitioned to a 100% paid newsletter.
Links
* The MacroTourist, Kevin’s newsletter
* Kevin on Twitter
* The Reformed Broker on CNBC, a finance blogger who uses Twitter effectively
Highlights
* (04:26) The world of finance blogging
* (06:06) How Kevin uses Twitter as a tool for blogging
* (08:23) The start of Kevin’s writing journey and how he grew his readership
* (15:19) Why Kevin’s writing style is distinct in the world of finance blogs
* (26:13) How Kevin came to Substack after experimenting with other writing platforms, including WordPress, Squarespace, and Mailchimp
* (35:02) Why Kevin decided to switch to 100% paid subscriptions
* (42:27) How paid subscriptions allowed Kevin to learn more from his readers
On getting started:
The one piece of advice I'd give is, just keep producing content, and it's going to go slow at first. But then the power, as I say, the power of compounding will cause it to accelerate.
On keeping a writing schedule:
I always tell them [new writers] to write and write on a regular basis, because one of the things that a lot of people do is, they go and they start writing and then they fall off. They don't bother with the discipline of it. A lot of times people are desperate for content, but what they don't want is for you to go away for two months and then you're back for two episodes and then you're gone. So I always told people to make your schedule and stick to it.
On giving and receiving from readers:
I realized that as people started reading it [my newsletter], it ended up being something I could give, so that I could receive back some information. And that's how it really kind of morphed for the longest time, I said, “I'm just going to write this thing, put it out there, and then I'm going to receive back as much as or all the effort that I'm putting into it.” I felt like it was coming back at me, in more than enough, to pay for itself that way.
Transcript
Nadia (00:27):
You write The MacroTourist, which you described as an almost daily email about markets. From my poking around, it kind of looks like finance with a bunch of memes involved, and very breezy, irreverent style that definitely caught my eye. And it seems like that breezy fun style has also sort of dictated your career path. From what I can tell, you've kind of had a very interesting path of getting here from trading for other people, trading for yourself, and now also writing about trading. So yeah, just diving right into, what is your day job right now? How did you end up here?
Kevin (01:02):
Okay, well, in the nineties, I actually was an equity derivative trader at a Canadian large bank. And so, what they do is, we sit around and we make markets for institutions like pension funds, and we trade blocks of stocks. And in my case, I actually traded ETFs like index derivatives and other fancy stuff like that. And I was very fortunate because I got that job in the nineties when I was actually...I hadn't yet finished university. And I got the job because, as my boss told me at the time, there was guys better at computers and there was guys better at trading, but I was the right mix of both.
Kevin (01:46):
And back then there was very little computerized trading. And what I was...I had that ability to kind of bridge the gap. And so, I was hired to handle all the index clients and it was a very entrepreneurial firm. And before I knew it, they had gone from me just covering clients, to me trading for the bank, meaning taking positions, until finally I was the basically head risk-taker for the equity derivatives for most of the late nineties, during the dot-com bubble. Then what happened was our daughter was born and she was born with a heart defect that was fixed at birth.
Kevin (02:25):
It was one of these things, the wonderful doctors came in and they operated laparoscopically and fixed her problem. But it was one of these moments in life where you kind of sit back and wonder what's important in life. And I decided that there was more than just trading and I wasn't having as much fun because the bank was becoming increasingly like a bank, and less entrepreneurial. So before the market crashed in 2000, I hung up my skates, and I kind of semi quit/retired. So I came home and I thought to myself, "I can go work for a hedge fund or do something like that, but I can also go try trading for myself. And if it doesn't work a year from now, I could go back and work for a bank or a hedge fund and nobody will remember that year."
Kevin (03:14):
Well, one year turned into two. And then turned into five. And next thing I know I've gone 15 years, just trading for myself with another guy. And during those periods, it was kind of lonely at times. So I started writing a blog, or it was actually more of a journal when I first started, because one of the things they encourage traders to do is write down your thoughts. And people would phone me up and say, "What do you think of the market?" And I would just say, "You know what? Here, I'll send you off what I wrote to myself." And that's how the MacroTourist was born. And for the longest time it was just a free thing I like to... because I don't work for a bank anymore. And because most research is often boring and not very kind of fun to read, I do like to make it a little more fun. So at the very least, I always say to people, "I hope to make you smile."
Nadia (04:06):
I definitely, going through some of your posts, I was giggling to myself... and I don't even understand finance, so it was great. Your goal has been achieved. What is the world of finance blogging? I don't even really necessarily know, is that the right term that you'd use? There are other people that write like you, but what you're doing is so different.
Kevin (04:26):
For sure. There are a lot of blogs out there. And one of the things that a lot of people as well do in finance, is that we're big Twitter users, and it ends up being that Twitter is the perfect vehicle for traders and investors, because what you want is basically real time information flowing back and forth. So there's many people that will be on Twitter posting kind of long form, string together 20 tweets that they kind of give their views, and they include charts. And then there's some that go off and actually go and create full-on blogs. There's a very famous guy called The Reformed Broker that's on CNBC, and he originally started as just a broker that wrote a blog, until he parlayed into a million plus Twitter followers, and a job on CNBC.
Kevin (05:16):
So it's definitely something that's out there. One of the problems that occurs is that anybody who works for a large firm is often hindered by compliance. Compliance basically means legal sign off, because if you're registered as an investment advisor, it's difficult for you to write. So there's a whole slew of guys and women very similar to me, in that they don't work for anyone but themselves, and are posting information out there like my blog. Although I would say that my style's a little unique, the fact that I'm writing a finance blog is by no means unique.
Nadia (05:57):
Did you.... because it seems like you're somewhat active on Twitter as well, did Twitter come before blogging? Did blogging help with Twitter?
Kevin (06:06):
No, so I hated Twitter. When I fi…
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