Food Fix's Helena Bottemiller Evich has achieved sustainability. She has a recurring revenue business that exceeds her salary at Politico, with a 10% free-to-paid conversion rate. This gives her the option to continue as is as a solo operation or expand into adjacent verticals. Our conversation ranges across the choices that independent media operators need to make around complicating a simple business model, the guesswork that goes into subscriptions pricing, and how to maintain enthusiasm while on a content treadmill.
This week's episode of the Rebooting Show is
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Brian:welcome to to the Rebooting Show.
Brian:I am Brian Morrisey.
Brian:I'm joined today by Helena.
Brian:Bota Miller eVic.
Brian:I hope I got that right.
Brian:We talked about me mispronouncing her name, but so let's just,
Brian:let's assume that it's very close.
Brian:That's very nice.
Brian:Helena is the proprietor.
Brian:I guess we'll get into what the, what titles we're gonna use of Food Fix,
Brian:which is a subscription based food policy intelligence newsletter that delivers
Brian:insider reporting and analysis to professionals working at the intersection
Brian:of government, industry and public health.
Brian:Helena started this, after covering food and ag issues at
Brian:Politico for nearly a decade.
Brian:She's won awards.
Brian:She's even spent some time in the B2B world at Food Safety News.
Brian:I like that.
Brian:I love B2B publications.
Brian:Uh,
Helena:B2B and B2C proudly.
Brian:Proudly, yes.
Brian:'cause at Politico, you were part of Politico Pro.
Helena:Mm-hmm.
Brian:Right.
Brian:And so you left to start Food Fix in 2022.
Brian:That's actually when, we first, this is the first time we're, we're talking
Brian:live, but we, we, we've exchanged
Helena:Mm-hmm.
Brian:and I'm gonna quote from one that you sent to me, if you don't
Helena:I love it.
Helena:Bring the receipts.
Brian:Tim Russer, RIP, you said, I really do think there's
Brian:something to this creator.
Brian:Boom.
Brian:Journalists have been much slower to pick up on it because we don't consider
Brian:ourselves creators, but it's basically just an editorial first approach.
Brian:We're content first approach, even though we hate the term content.
Brian:I think you sort of, you sum up the, the distaste that a lot of journalists
Brian:have for whatever this is that a lot of them are being attracted to or
Brian:being forced into, which is going off on their own and building their own.
Brian:Businesses, which is you've been doing for the last three years.
Brian:so start off with what, what led you to, to, to leave Politico for, to,
Brian:to think there's a lane to do this as a, a solo enterprise, whether it's
Brian:creator or we call it something else.
Helena:Yeah, I, I'd been at Politico for about a decade and
Helena:really got to know the model there.
Helena:I helped launch the food nag vertical they had back in 2013.
Helena:So I'd been there almost a decade and I was ready to do something else.
Helena:I'd been covering food policy the whole time, like I really had owned
Helena:and loved covering food policy, was ready to do something else, and I
Helena:basically just came to the realization that no other national media outlet
Helena:was gonna post the job I wanted.
Helena:Like I could go try to convince editors at, you know, New York Times or wherever
Helena:to like, create this beat, but they didn't see it as a beat that was worth
Helena:covering or that was important to cover.
Helena:And it was during a time when I think a lot more media entrepreneurs were being
Helena:really open about how they were building.
Helena:Like I started listening to All the Morning Brew, you know, every
Helena:podcast for every like media operator I started listening to.
Helena:And the more I listened as a reporter, like inside the Politico newsroom, I was
Helena:like, I actually know more about how this works than, than I maybe had thought.
Helena:And I would've never considered myself an entrepreneur.
Helena:Like never.
Helena:But
Brian:Well, that's another term that needs to be retired, I
Helena:to dawn on me that I could, that I could maybe do it.
Helena:And, I have had readers since be like, are you good at picking
Helena:stocks because you like picked the perfect topic at the perfect time?
Helena:Because now we're in a Maha world and everyone's talking about food
Helena:policy and I find this hysterical.
Helena:But no, I just, I love my beat.
Helena:I own my beat and I saw the white space because so many media
Helena:outlets don't see this as a beat.
Helena:So.
Helena:There's a clear wide open lane, and I saw it and I decided to launch Food Fix.
Helena:I left, Politico right after covering the infant formula crisis.
Helena:I was really the top reporter covering that.
Helena:loved working at Politico, but just was ready to do something else.
Helena:And I took the leap and now I look back and I'm like, wow, that was, was
Helena:good timing, but I didn't really see where all this was headed at the time.
Brian:But you, you were coming from Politico Pro, right?
Brian:And, and that is a B2B arm of Politico that has high price subscription.
Brian:So, you know, people, people were already paying for what you were doing.
Helena:yep.
Helena:But it's, but political, the beauty of it is that pro really is hybrid because a lot
Helena:of the top reporters are still writing for politico.com, so you have to be able to.
Helena:You know, write for an insider audience, really know your stuff,
Helena:do those incremental scoops, and then also be able to zoom out and
Helena:write for a mainstream audience.
Helena:And I remember being in all hands once where, our then owner, Robert Albritton,
Helena:who eventually sold Politico to Axel Springer, and he said something along
Helena:the lines of Politico Pro is a way to tax the 1% to pay for a newsroom.
Helena:And I will never forget that line because it was really true.
Helena:Like, basically they were figuring out how to have a really strong
Helena:business model around a B2B, you know, information services, like
Helena:really Insidery trade Pub, basically a bunch of trade publications, right?
Helena:And then that leveraged them to have the best reporters and these
Helena:huge teams of reporters that.
Helena:You would never have at other publications.
Helena:And then when healthcare blew up or a farm Bill blew up, we had the best
Helena:teams in the country covering these.
Helena:And so I came to really love that model and I basically, emulate it with Food Fix.
Helena:So I'm actually half paid, half free.
Helena:I have, so paid subscribers get, food Fix twice a week and free.
Helena:I have a free list, gets it once a week.
Helena:Anyone can get it.
Helena:Food fixx.co.
Helena:Anyone interested in food policy?
Helena:And you know, there's a lot going on right now,
Helena:so.
Brian:So just to go back though, what gave you confidence
Brian:on like the business side?
Brian:Because I think that there can be.
Brian:I, I feel like there's Al and you, you flicked at it a little bit, but
Brian:there's, there, there can be trepidation wi on with the Capital J journalist.
Brian:You're a capital J
Helena:Oh yeah.
Helena:Oh yeah.
Helena:No, I'm a journalist first, second, and third.
Brian:yeah.
Brian:Okay.
Brian:Right.
Brian:And then there's the business stuff, right.
Brian:Which I think some people get think it's more complicated really than it, I mean,
Brian:it's a pain in the ass, but like it's, you
Helena:Yeah,
Brian:the merchant class is the merchant class.
Brian:We journalists,
Helena:we try not to sully ourselves
Brian:you can become part of the merchant class.
Brian:Trust me, it's just a lot of like thankless work.
Brian:but I think it's intimidating for
Helena:it is.
Brian:journalists just 'cause it's unfamiliar
Helena:I was intimidated.
Helena:I also though, became a little bit less intimidated as I dug in more, so I
Helena:did a lot of.
Brian:oh, I could do this.
Helena:Oh, yeah.
Helena:Yeah.
Helena:So I do, I talked to a lot of people like, you know, I talked to Anna
Helena:Palmer and John Bresnahan, who launched Punch Bowl out of Politico.
Helena:there were a lot of ex-business people from Politico Pro who jumped
Helena:on the phone with me and talked me through, like how things worked.
Helena:I had a vague idea of how the business worked.
Helena:Politico pro's a really high price point.
Helena:I think by the time I left, you couldn't get it for less than like, $7,000 and
Helena:that would be like a congressional office, like the discounted, you
Helena:know, rate for, for government.
Helena:you know, so it was really high dollar and I knew that what I was
Helena:gonna do was not gonna be every day.
Helena:I was not gonna be on a hamster wheel of breaking news.
Helena:So I knew my price point was gonna be lower, but I also, I wanted to hit
Helena:that sweet spot where it's, premium.
Helena:So I'm $500 a year for most people.
Helena:I do a lower rate for government, academia, but $500 a year.
Helena:You don't necessarily have to have a meeting about that, right?
Helena:Like someone can just, sign up, get their business to, expense it for them.
Helena:And so I tried, I actually spent a lot of time trying to figure out
Helena:pricing and basically I realized everyone was guessing on pricing.
Helena:I'd, I'd like talk to all the business people and be like, okay,
Helena:like brass tax, how did you do this?
Helena:And, you know, they'd be like, look at comps.
Helena:And I was like, well, there aren't any comps because I'm the only one doing this.
Helena:Like, I have this lane.
Helena:And so I actually ended up
Brian:And then go higher, look at comps, and then go higher
Brian:in B2B, you just go higher.
Brian:'cause like the difference between 300 and 500 honestly is not, I don't, I've
Brian:never heard anyone give me or present evidence that there's any formula to
Brian:these things other than, particularly if you're a journalist, pricing your
Brian:information product go higher 'cause you're gonna underprice it usually
Brian:as a journalist for whatever reason.
Helena:yeah.
Helena:And like I. I just, once I realized that everyone else was guessing,
Helena:or experimenting, I was like, you know, this isn't, this just
Helena:isn't expertise that I don't have.
Helena:Like, I can try this too.
Helena:And, I went out of the gate and I sold paid subscriptions on
Helena:day one and was like, oh, okay.
Helena:Like I think, you know, I think this could work.
Helena:I had some idea that it was gonna work.
Helena:I did think it, it was really helpful that I left Politico before Elon Musk bought
Helena:X. And so it was easier to get emails.
Helena:I had a pretty, you know, substantial following, really engaged following that
Helena:is no longer really the case, although I have also not quit X, but, it was a
Helena:lot easier to get emails, so I launched with like something like 1700 people
Helena:on my list and that was really helpful
Helena:to get going.
Brian:Okay.
Brian:See, yeah, that, that is always, I mean, that's the kind of like
Brian:quote unquote unfair advantage.
Brian:I mean, it's
Helena:Yes, it's, but all journalists, I've been telling all of my friends
Helena:in media have an email list.
Helena:I don't care if you think you're gonna be at your publication for the next 20
Helena:years, you should have your own list.
Helena:You should be building some type of like, direct connection with your audience.
Helena:Like you do not own that social anything.
Helena:and you don't own the connection you have with within your, your publication.
Helena:Like you, you know, I'd love to have the list of everyone who has subscribed
Helena:to my stories, you know, in the de in the decade that I was at Politico.
Helena:But that's not my list.
Brian:Yeah, they weren't gonna give it to you.
Brian:Vox gave the list to a couple people, but,
Helena:that was, I did, I heard about that and I thought, well,
Helena:that was really nice of them.
Brian:yeah, that was really nice.
Brian:I left Digit.
Brian:I don't, I I left behind, the 140,000, like email addresses.
Brian:I had to start from zero.
Helena:yes.
Helena:But at least, I mean, people knew who you were.
Helena:They knew your name, and like that is, that counts for a lot.
Helena:I'm not ever discounting
Brian:yeah, I started with 3000, email subscribers before
Brian:I sent, anything just from,
Brian:Again, thankfully it was still Twitter then, I guess because, and
Brian:it was actually from a Morning Brew.
Brian:I think it was Austin, but it, might have been Alex that, that said, anyone
Brian:leaving Jeff should always like, get people to sign up to an email newsletter.
Brian:'cause it'll go, you'll get the, like, congrats, congrats.
Brian:Even if like, it's done.
Brian:Like, and and that, that stuck in my mind, even not fully knowing
Brian:like what I was gonna be doing.
Brian:And it does become, it becomes a, an advantage.
Brian:So when you were thinking about you were going to, are, are you doing the same work
Brian:now as you were doing at Politico or did you tweak it because, you're on your own
Brian:or you wanted to be in a different lane?
Helena:So, I. I would say it's similar in some ways.
Helena:So I think, you know, the subject matter is similar.
Helena:It's basically the same beat.
Helena:So I cover like FDA food labeling, anything consumer facing.
Helena:So school, meals, the SNAP program, you know, people, which a lot of
Helena:people still know as food stamps.
Helena:I mean, these are huge programs.
Helena:Snap serves more than 40 million Americans.
Helena:Like, there's a lot of fights over it.
Helena:there's a lot at stake.
Helena:So the, the subject matter is very much the same, the tone is different.
Helena:I would never use first person.
Helena:at Politico and sometimes I do insert a little bit of analysis that's like,
Helena:I remember when Michelle Obama was, you know, trying to get everyone to eat
Helena:something different in the school meals program and Republicans lost their minds.
Helena:You know, I can insert like a little bit of kind of historical analysis
Helena:and it feels more personal and I just didn't have that, relationship
Helena:with my audience at Politico.
Helena:I get more emails now, or even immediately when I launch Food Fix.
Helena:I would get more reader emails than I ever got at Politico, even though technically
Helena:I was reaching way fewer people.
Helena:because it's just different when it, the person is coming into your inbox.
Helena:so it's a highly engaged audience.
Helena:I very specifically chose to do it twice a week, so that I wouldn't get burned out.
Helena:I was not about to.
Helena:I talked to Isaac Sa over, you know, I love what he's doing with Tangle, huge
Brian:You know how to do it now every
Helena:but
Brian:like I ask that about to Emily Sunburg all the time.
Brian:I'm like, what?
Brian:I was like, are you burn out?
Brian:And she gets like a little defensive with him and she's like, I work hard.
Brian:I'm like, I know.
Brian:It's hard work.
Brian:We all work hard.
Brian:I just
Helena:Yeah.
Helena:So I say that I do it twice a week, but a couple times a year if I get a
Helena:really good scoop, I send a special alert and I call them bonus editions.
Helena:I never promised the value prop was never to be like the breaking news
Helena:source, but you know, like I knew what was in the dietary guidelines first.
Helena:So, and it's kinda like my Olympics and food policy, right?
Helena:Yeah.
Helena:Every five years, like, the di every five years, the government updates, the
Helena:dietary guidelines, they changed it, a bit more this time with, RFK junior stamp
Helena:on it, and I knew what was in there.
Helena:So my readers got that first, but a few times a year while I do that, it's
Helena:really meant to be more analytical.
Helena:It's meant to be, always straddling this line.
Helena:So.
Helena:You know, my paid readers are getting both additions.
Helena:The the one that's subscriber only and the free one.
Helena:And so both of them have to be valuable and have to be readable.
Helena:And one of the great things I learned at Politico is how to write for
Helena:both audiences at the same time.
Helena:So has to be understandable.
Helena:Not a lot of jargon.
Helena:If there's an acronym, you explain it.
Helena:my mother-in-law will say like, I feel like you're explaining the news to
Helena:me, or like, you're kind of holding my hand through the policy news.
Helena:And that's kind of the goal is that it's, you know, I have everyone from like CEOs
Helena:of food companies to like, you know, people who participate in the SNAP program
Helena:and want to follow what's going on.
Helena:And so it really is a diverse audience and I love that.
Helena:I know it's kind of weird to do B2B and B2C and
Brian:Yeah, no, I
Helena:would advise against it.
Brian:it's, it's, it is kind of dangerous to some, some way because, you know, look,
Brian:you're charging $500 a year and if you're explaining what snap is, it would be like
Brian:me, like explaining what CPM is, you know,
Helena:Well,
Brian:time it means cost per thousand, but a thousand is melay
Brian:and like all this like, and I'm like,
Brian:no, I'm just, I've just
Helena:Well, I will
Helena:say snap's one, I don't what
Brian:And I'm like, people can look up what CPM is if they
Helena:yes, yes.
Helena:Yeah.
Helena:But you know, I, I feel like you do a good job of not, it's never like too
Brian:I try
Helena:or jargony that, you know.
Helena:Yeah.
Brian:but,
Brian:but I'm, I, I wonder, because you're subscription only,
Helena:mm-hmm.
Brian:right?
Brian:And so
Helena:That's the journalist, that's the journalist first approach.
Helena:It's
Brian:Yeah.
Brian:'cause you're not making money off of these other, these freeloaders like I'm,
Brian:I'm, I'm fully onto the
Helena:I know.
Helena:So, here's the deal.
Helena:As a reporter, I very much respect having somewhat of a wall between and
Helena:like, obviously, when it's just you.
Helena:you can't have a wall.
Helena:The reason I love subscription only, and it's been, you know, I've had enough
Helena:growth and I've had enough success that I can be subscription only for now.
Helena:the reason I love it is that your incentives are so tightly aligned, like it
Helena:is either worth it to pay for it or not.
Helena:Like they either are getting the value or not.
Helena:And that is, you're just a, there's no crossed wires there.
Helena:And you know, if someone, I actually haven't had this happen, but if
Helena:someone hates something and like cancels over or angry or whatever,
Helena:that, that's among hundreds.
Helena:Like, you know, it's not.
Helena:You don't have the appearance of, you know, sponsored by X company
Helena:and most of the money to be made where I am is in advocacy dollars,
Helena:advocacy ads, and, but these are
Brian:Well, it's a lucrative, it's a lucrative
Helena:are the issues I'm covering.
Helena:So it just looks like there's just no way to separate it.
Helena:And so I've stayed away from that.
Helena:I'm leaving a ton of money on the table and I know that, and that's
Helena:okay with me for now because like, I, I prefer to, keep it simple and to
Helena:keep the interests of my audience and the business aligned really nicely.
Helena:And for now That's great.
Helena:So, but I understand the business people, generally think this is
Brian:No, this would not be, this would not be a private equity approved
Helena:no, no,
Brian:all.
Brian:Elena.
Brian:Like you got, like, you've got, you've got influential policy makers, you know,
Brian:the Washington DC influence circuit,
Brian:I'll just put it.
Brian:is very, there's a lot of people who feed at that trough.
Brian:you know, the view from, you do a view from the top segment with someone who has,
Brian:you know, some lobbyist dollars, right?
Brian:And then, you know, you're interviewing, I don't know, someone at like a
Brian:Maha person and a bunch of lobbyists come and, and that, that works.
Brian:That, that, that model works.
Brian:I don't think there's anything wrong necessarily.
Brian:I, I understand the point of, of keeping it simple though.
Brian:'cause I think that is, is really, that's key because you can go in
Brian:a lot of different directions.
Brian:I know, I feel it
Helena:Yeah.
Helena:And I, I think I would be feeling differently if I, I've had really
Helena:strong year over year growth every year.
Helena:that's mostly organic.
Helena:Like I'm not spending money on marketing.
Helena:and, you know, it's working.
Helena:It's working.
Helena:So I'm not trying to like.
Helena:Make the business model more complex right now, but I am fully
Helena:aware of, you know, the different revenue streams I could be creating.
Helena:I'm building a platform right now where I can build whatever I want on top of it.
Helena:I also have, you know, a toddler and a 6-year-old and like there's beauty in sort
Helena:of the simplicity of what I'm running.
Helena:I have only part-time, I have only part-time help for food fix
Helena:and so, you know, I'm covering the Trump administration.
Helena:I got little kids, like I don't, I don't need to be.
Brian:literally on your plate.
Helena:I got a lot.
Helena:Yeah.
Brian:Yeah.
Brian:So how has the growth been?
Brian:What, what kind of numbers would you, would you give us?
Helena:I mean at least 10 to 20% every year.
Helena:So like, I mean, I am.
Helena:Every year growing without, and that's including churn.
Helena:Like I have pretty low, low churn, very, very high auto renewal rate.
Helena:I think only like 4% of my, subscribers have AUTORENEW turned
Helena:off, which is really great.
Helena:so it's, it feels strong.
Helena:It feels stable.
Helena:you know, the biggest
Brian:you made of Politico?
Helena:Yes.
Helena:Oh yeah,
Brian:great.
Brian:That's the line.
Brian:You know,
Brian:I think,
Helena:I have a, I have a path to hiring people for sure, but it's,
Helena:again, it's like this, some, the.
Helena:The simplicity of it operationally.
Helena:I mean, I say that in like, you know, I have like five part-time folks.
Helena:I'm launching a podcast called American Dish, which people can check out.
Helena:so it's not, I'm not saying it's like simple to run this, there's
Helena:a lot of moving pieces, you know, like, you know how like there's a
Helena:lot to coordinate and all of that.
Helena:But, I do try to keep it as simple as possible for the stage of life.
Helena:And like it used to, you know, people used to always ask me
Helena:like, what are you building?
Helena:Are you building a lifestyle business?
Helena:And I'm gonna be honest, I had to Google like, what is a lifestyle business?
Helena:Because I didn't know and
Brian:and it's, and it's weird and weirdly, it's 90% of the time 'cause
Brian:the type of people who use that term, they use it as a pejorative.
Brian:And the, and the, the rest of the rest of us are like, well,
Brian:yeah, that sounds amazing.
Brian:Like, and they're like, no, no, it's really bad.
Brian:I'm
Brian:like,
Helena:Well, you know what?
Helena:I've come to conclude.
Helena:Maybe journalism needs a few more lifestyle businesses, because
Helena:maybe that's more sustainable.
Brian:I a
Helena:about to find out.
Helena:We're about to find,
Brian:You know, I feel this, and is why I wanted to have this conversation
Brian:to have more of them is because there's like two worlds in some ways.
Brian:There is a world of, of decline that's happening in the mass media
Brian:market, particularly general, there's protected categories.
Brian:Bloomberg's gonna be fine.
Brian:The
Helena:Bloomberg will be fine.
Brian:Politico, you know, it's going through a little, it's gonna be fine.
Brian:Axios is gonna ultimately be fine.
Brian:Like the amount of money that's going into the federal government.
Brian:I mean, you cover the snaps, a hundred billion plus.
Brian:Like, I mean, these programs are massive.
Brian:Like, and people looking to influence them, whether you feed at that
Brian:trough or not, that trough exists.
Brian:There's a reason that p semaphore, et cetera
Helena:Mm-hmm.
Brian:up at the trough.
Brian:and then that's the, that's the biggest problem, not the trough itself.
Brian:Consumer media is just totally different.
Brian:I mean, they, they, they're looking for a lifeline, and
Brian:just, and, and really scrambling.
Brian:Whereas this is a really interesting area, and I feel like you are part
Brian:of like, I call it like expertise.
Brian:And I feel like some
Helena:Mm-hmm.
Brian:have expertise that as a practitioner, you know, you have
Brian:journalistic expertise that you're, you know, so deeply embedded
Brian:as like an analyst, really.
Brian:I mean, you're, you're more than really I think of like, than as a reporter.
Brian:Like you have like real expertise in this area.
Brian:I, there's so many success cases in this.
Brian:it's not like it's easy.
Brian:There's a power law in everything in media, right?
Brian:But it's working for a lot of of people, right?
Helena:It's not easy, but there are way more journalists that could be doing this.
Helena:I mean, just outta Politico, we've had a fair number of entrepreneurial endeavor.
Helena:I mean, some of them are scaled, right?
Helena:Axios Punchable, well, punchable is still pretty small, but, you know,
Helena:they have a, a fairly sizable team.
Helena:Now we also had
Helena:Rachel Bay, a former playbook,
Brian:punchbowl is is not small on in like
Helena:not revenue, No, I think, I think
Brian:Well, I would rather be big in revenue and small and people, that's my
Helena:Yeah, well that's what I mean.
Helena:That what, what I mean by not scaled is like they're not
Helena:going after, a big high traffic.
Helena:That that's not what they're going after.
Helena:They are essential for, people in Washington, people
Helena:covering the policy, process.
Helena:I, I listen to their podcasts almost every day.
Helena:Like I love that they're so focused.
Helena:I didn't understand when Punchable launched.
Helena:How that was gonna work.
Helena:I was like, gosh, there's so many people covering the hill.
Helena:But they saw the super hyper-focused white space of just like, Congress,
Helena:Congress, Congress, hyper-focused.
Helena:And it, it works really well.
Helena:Like if I wanna know what's going on the day, on that day or that week,
Helena:like the, that is the go-to place.
Helena:and you know, the Washington Post has given that up, like, I mean
Brian:it's probably me of like the like, but I think it's also like, uh,
Brian:I'll have to talk with Anna or about it, but like, it, it's also a very savvy,
Brian:like business like decision because
Helena:also like 90%
Brian:it moves, but it also, it moves them from being, I mean from an m and a
Brian:perspective because it moves them from trying to compete to be a, a quote unquote
Brian:platform business to being additive to someone who already has the platform.
Brian:Do you know what I
Helena:weren't there rumors for a while that like the Washington
Helena:Post would buy punchbowl or
Brian:And that, that,
Helena:I, I'm not trying to start
Helena:rumors.
Helena:I think that, was a
Brian:that that makes sense because they can be plugged into
Brian:someone who already has the platform versus trying to build all the
Brian:functions of a Politico or an Axios.
Brian:You, you're, first of all, you're, you don't have a a million dollar revenue
Brian:per employee number to go around with.
Brian:You don't have the margins because you're spending ahead
Brian:of, you don't have the scale.
Brian:So it may, you have to decide whether or not you're gonna build, you know,
Brian:what the banker type people call, like a platform business, which
Brian:is like, you're gonna do it all.
Brian:You're gonna have a sales engine, you're gonna have everything.
Brian:Or if you're gonna like, prove that you have a, a narrow and deep and
Brian:a specialist thing that you can, be plugged into like a larger, a
Brian:larger entity, if they wanna do that.
Brian:If they don't wanna do
Helena:Uh, it, it'll be so interesting to see what Punchbowl does.
Helena:I think they've done a great job owning their lane.
Helena:on that note, I will say like, I mean, because the Washington Post
Helena:is trying to get more into the space, I think they've hired some
Helena:former Politica Pro folks, you know?
Helena:I find it astonishing that the Washington Post Let Politico and Punchbowl and
Helena:all of these, entities really own, like covering the federal government, like
Brian:generational fumble and there have been a lot of fumbles in, in media.
Brian:There have been a lot of fumbles.
Helena:I, I can't even tell you how few, like food and ag events, house agriculture
Helena:hearings, you know, whatever in the weeds, USDA, how few of them I have seen the
Helena:Washington Post at, they do not treat, they, they, at least in my lane, they
Helena:have not treated it as this like beat, you know, USDA is one of the largest, parts
Helena:of the federal government and it, there's just there, they really were very focused
Helena:on being a national paper and kind of.
Helena:You know, more like the New York Times model sort of, and I just think, I
Helena:mean, again, I'm not a business person.
Helena:I just think like watching it sort of happen feels like
Helena:a huge strategic mistake.
Helena:And now look where we are.
Helena:Like we have fewer reporters covering the federal government, which is
Helena:just like a bad place to land.
Helena:So I'm constantly horrified by like, how few reporters are sometimes
Helena:at these like, important events.
Helena:Although it's a little bit different under Maha.
Helena:'cause now everything's like, everything's, there's
Helena:a lot of attention on Maha.
Helena:So now there's a lot of reporters at the events that I
Helena:go to, which is, which is good.
Helena:I, well, I welcome more coverage.
Helena:I think it's, I think it's a good thing 'cause
Brian:yeah, I mean you, I don't wanna say you got like lucky, but
Brian:like it did, it did help that that RFK got, got, got chosen, right?
Helena:for sure.
Brian:You're one of the few, like who gets a Maha bump
Helena:food po for sure.
Helena:Food policy has kind of slowly become more mainstream the entire
Helena:time I've been covering it.
Helena:But there's no question that Maha has taken it to a new level and what
Helena:it's really done is taken it out of this like more left coded thing.
Helena:Like there was a time when, you know, it was Michelle Obama talking
Helena:about food policy and everyone was like, this is the nanny state.
Helena:And you know, my mayor Bloomberg in New York was like
Helena:literally put in a nanny dress.
Helena:Like, I can't remember which publication it was.
Helena:Put 'em on the cover.
Helena:So, you know, that is
Brian:What?
Brian:When he tried to ban the soft drinks, I was
Helena:He was trying to ban the big gulps.
Brian:when you go after like Coke and Pepsi, like they come, they come.
Brian:They were like,
Helena:But what's interesting is now RFK does not care at all.
Helena:He bashes them regularly.
Helena:It's a totally different era.
Helena:And it's almost like Nixon could, was the one that could open up China.
Helena:Like, 'cause you couldn't call him a communist.
Helena:It was like the rights now, like.
Helena:They're like, screw soda.
Helena:We're not doing that in Snap.
Helena:I mean, it's wild to watch.
Helena:It's a real, there's a super interesting like political realignment that's
Helena:happening happened at the same time that it's like become more mainstream.
Helena:So it's a really interesting political story for me to cover because
Helena:there's a ton of policy implications, but also I'm watching these like
Helena:fascinating realignments happen.
Helena:and I can see it because I covered the Obama era.
Helena:So like I have the luxury of focus in that way.
Helena:Like I have all this memory of how all this shit went down, right?
Helena:Because I was there.
Helena:And so it's been really helpful in that way.
Brian:And, and that perspective really helps because I think when
Brian:we're in the moment of like great change or realignment, because we're,
Brian:we're, it's not only daily, it's like minute by minute like that we
Brian:lose sight of how massive the shifts have been in, in all kinds of areas.
Brian:In, in politics where when you go back 15 years, we're like, wait a second.
Brian:This was a major issue for the other side.
Brian:Like, I mean, this is like really shocking, um, changes in a lot of these
Brian:areas that sometimes I think because our politics have gotten so tribal
Helena:Yeah.
Helena:In short term, the cycle, like the memory is short.
Helena:So Short term, yeah.
Brian:I mean just the, the fact that yeah, there's, there, there's
Brian:so many different areas of this.
Brian:So what like percentage of your subs, your audience is people
Brian:who read food fix for their jobs.
Helena:So I have about a 10% conversion rate from the pay or from
Helena:the, from the free list to the paid
Brian:Really?
Brian:That's great.
Helena:Yeah.
Helena:I am very proud of that.
Helena:but I think part of it is that if you're signing up for food policy newsletter,
Helena:you're already a little bit more.
Helena:Prone to like working in the space or, like a good example would be like, you
Helena:know, someone who's a food lawyer or someone who works at a regional food bank.
Helena:Like they might have a budget for media and so they, they might get it.
Helena:And then it's also like, you know, people who work on Capitol Hill and who,
Helena:people who work for the government and people who work at trade associations.
Helena:So those, that paid list is mostly people who work in it.
Helena:There's some random people who are just, you know, have money
Helena:to burn and are really interested and wanna, wanna read it.
Helena:But it is mostly people who work in it.
Helena:The vast majority of paid food, fixed readers are getting it expensed.
Helena:and they're renewing year over year because it's just like a
Helena:part of their, part of their jobs.
Helena:And the most churn I have is people switching jobs.
Helena:That's the biggest thing.
Helena:And they'll, they'll send an email being like, I'm gonna resubscribe off my, you
Helena:know, as soon as I get on my new email.
Helena:So I, it's sticky.
Helena:It's a, it's a habit, you know, I hear from people all the time.
Helena:They're like, I like wait for it to come.
Helena:Like, I, you know.
Helena:I open it when it comes in.
Helena:Right?
Helena:It's like a, almost like an event.
Helena:that's not everyone, but there's definitely some, some loyal
Helena:readers, who, who read it right when it comes to their inbox.
Helena:And, it's been great.
Helena:I mean, I knew there was white space, because I, you know, saw
Helena:that the other media outlets weren't seeing this as a beat.
Helena:So, and even trade publications, there actually isn't a trade publication
Helena:that just covers food policy.
Helena:There's a lot of really great, agriculture, like production
Helena:side trade publications.
Helena:so they're much more focused on like farm subsidies and conservation programs
Helena:and sort of like the other side of USDA, like the more the production side.
Helena:So I don't really touch that stuff at all unless there's a big Maha fight over it.
Helena:Like today I was writing about pesticides, but that's because
Helena:there's a big Maha fight and there's other implications to that.
Helena:So.
Helena:You know, the food policy side, there just isn't like sometimes food dive
Helena:or these other verticals will touch on it, but it's not, it's not their focus.
Helena:So
Brian:Do you
Helena:I kind of have the lane to
Brian:Well, do you think of, because I always think, you know, it seems
Brian:like you're very disciplined about this, like, you know, but you know,
Brian:when you, when you reach, I don't know, it's like content market fit, right?
Brian:You think about, okay, well how do I expand the aperture?
Brian:You know, you add in and there's a lot of different, you know, ways to
Helena:Adjacent.
Helena:Yeah.
Helena:Mm-hmm.
Brian:how do you, how do you think about that?
Brian:Or is that just something you, you wanna stick to?
Brian:Like food policy?
Brian:You, you don't wanna build the, like, you know, the food industry publication.
Helena:I am still kind of deciding.
Helena:I mean, I get this question a lot, like, what are you building?
Helena:Right?
Helena:And this used to really stress me out because I didn't really
Brian:Because you thought you should have an answer.
Brian:I always thought, I was like, I should have an answer.
Brian:I
Brian:let me make something up on the spot.
Helena:I feel like, well I'm really, you know, it's working,
Helena:I'm considering what, what to do.
Helena:And I've started to be less stressed out about this because like, I
Helena:am building this very sustainable platform, this upon which I can either
Helena:stay the course and build a really strong, loyal, food fix audience
Helena:and keep building it brick by brick.
Helena:And that's great.
Helena:And that's a success.
Helena:Or like, there definitely is space for food fix to be broader, to like, have,
Helena:you know, I see other niche lanes that are kind of adjacent that that would work.
Helena:And that's just a different, that's just a different path.
Helena:Right.
Helena:And
Helena:I can
Helena:do either
Brian:and I feel like a lot of outside people who haven't been down
Brian:this path don't quite understand that like, optionality is really important
Brian:to people like you, people like me.
Brian:Like, I mean, having that, having those options I is, is really
Brian:valuable because going out and going down, you're, you know, you're
Brian:a small business owner, right?
Brian:And like, I don't, I don't wanna speak for you, but you probably didn't think
Brian:that you would be like a running your own business when you went into journalism.
Helena:no.
Helena:I'm also an accidental journalist, so like
Brian:Yeah, so like, there's lots of stuff
Helena:Yeah.
Helena:Yeah.
Brian:but like, you know, the having optionality I
Brian:feel like is doubly valuable.
Brian:And, and, and I think it's underrated, I feel like, to a lot of, I don't wanna
Brian:say like business people, but like the, the people, you know what I mean?
Brian:Like, they are the, like the business minded
Brian:people, because usually they're playing with other, they're usually,
Brian:they're using other people's money.
Brian:They're gonna make a ton of money one way or the other.
Brian:And like, you left Politico and you're like, I mean, I don't know,
Brian:maybe, maybe, you didn't have to get the health insurance, but
Brian:like, you know, you've got all
Helena:health insurance is a nightmare.
Brian:you know, you've got two kids and you got like Bill, and like, you know,
Brian:you don't, you're not guaranteed anything.
Brian:when you, when you start your own business, like
Helena:You're, you're not, you're not guaranteed anything.
Helena:And that was scary.
Helena:But, you know, it's interesting.
Helena:I always felt like I had a lot of job security at Politico.
Helena:I was really good at what I did.
Helena:I won them a bunch of awards.
Helena:I know I made them a lot of money because our team was excellent and they were
Helena:selling really expensive, subscriptions.
Helena:So like I, I could have stayed there.
Helena:I had a great job.
Helena:I, I felt like I had job security.
Helena:That wasn't why I left.
Helena:But what's weird now looking back, is I realize I actually
Helena:have more job security now.
Helena:I have control over my destiny as a reporter.
Helena:I get to still practice journalism, hold, agencies to account and
Helena:do a lot of the same things.
Helena:there are, I certainly miss, you know, having great colleagues and
Helena:there's a lot of, you know, bells and whistles and tools and stuff that
Helena:a newsroom has that I do not have.
Helena:but it's, it's honestly been great and I wish I had done it sooner, honestly.
Helena:the control, the having the option of like going in different directions,
Helena:choosing who I work with, like picking editors who, make me smarter
Helena:and are a pleasure to work with.
Helena:Like these small things that I didn't really think about.
Helena:Have been great.
Helena:Like, and I think there are some upsides that I, you know, I wasn't
Helena:doing it to have more job security.
Helena:I didn't think about it that way.
Helena:But I think in the end I ended up, realizing that it made a lot more
Helena:sense to do this in a lot of ways.
Helena:which is just so crazy for me to, it's even crazy for me to hear myself say that
Helena:because I would've never thought that I'd be someone who would launch a company.
Helena:Like I just wouldn't, wouldn't have thought that.
Helena:So it's been a great journey, and I'm really actually glad to see a lot
Helena:more reporters going down this road.
Helena:I understand many of them will.
Helena:Be going down this road against their will.
Helena:Right.
Helena:They're not necessarily, I think because of all the uncertainty, it's
Helena:gonna force more people to do this, but, but many of them will succeed.
Helena:Not all of them, not all of them, but many of them will.
Helena:And I think there is a future where there are more small, you
Helena:know, you're either gonna do it on expertise or maybe your big scale.
Helena:Obviously like the Don Lemon models is different.
Helena:but people are making it work and you hopefully will have a whole
Helena:stable of journalists who are still, you know, holding power to account,
Helena:fact checking and like running solid stories, uh, using that model.
Helena:So I think it's gonna be part of the equation
Brian:Yeah.
Brian:So the, the, the email i, I had referenced, you talked about you would,
Brian:you didn't consider yourself a creator, you know, and I don't, it probably doesn't
Brian:line up with, with the work you do.
Brian:Right.
Brian:but we don't have, I guess you're just like an independent journalist.
Brian:I'm not like, too hung
Brian:up on, on, on labels.
Brian:do you feel like you can be as ambitious journalistically
Brian:as you were within Politico?
Helena:that's a good question.
Helena:So I am not doing 5,000 word magazine pieces with like amazing
Helena:graphics that took a team to create.
Helena:I'm not doing those anymore.
Helena:I could be, partnering with other, you know, media outlets Right now.
Helena:It's more of a bandwidth thing.
Helena:I am still though holding agencies accountable when they, you know, when
Helena:their actions don't match their words.
Helena:Like, I mean, I do that often.
Helena:So I think it just takes a different format.
Helena:Right?
Helena:It's much less, The typical article format, and it is like a very
Helena:traditional newsletter format, which is a little more voicey, a little
Helena:bit more informal, but I still view the function of it to be similar.
Helena:Like it has to be, informative, it has to have original reporting.
Helena:and, you know, I've been in this space long enough that like most people will
Helena:pick up the phone when I call now, you know, like, maybe they won't be
Helena:on the record, but like, I've really been owning this beat long enough that
Helena:I'm able to write from like a place of authority that is, is not only helpful
Helena:for me to run a business that way, but it's helpful for the audience.
Helena:Like, I get a lot of feedback.
Helena:People say it makes them smarter in their meetings, which you always like to hear.
Helena:It makes them understand what's going on, better.
Helena:And that's sort of the goal is that you're informing people and trying to, you know.
Helena:I guess shine some lights where, where you can, but, certainly it's different.
Helena:I'm not writing, you know, these big takeout pieces.
Helena:And I think places like Politico are struggling with whether or not to do those
Helena:stories anymore, like at all, because it takes a lot of resources and you're not
Helena:getting the same ROI that you once did,
Brian:Yeah.
Brian:It doesn't make sense on a spreadsheet for a lot.
Brian:I mean, this is just the reality of the business, and I think one of
Brian:the knocks of this decentralization, particularly when it comes to
Brian:journalism, is inevitably, I mean, I'm part of it, like, you
Brian:know, the, the economic incentives are to do less reporting.
Brian:They, they are because you're, you're so stretched thin.
Brian:Okay.
Brian:That.
Brian:Look, we've, we've all been through this with the aggregators and whatnot.
Brian:Like when whatnot, you know, it is like, oh, you, like, I would hate
Brian:like a, we would like work really hard on like a story under uncovering
Brian:something at like, Digiday and then like Business Insider would
Helena:I would
Brian:like, put into a slideshow.
Brian:And I'm like, that's a ripoff.
Brian:and I, I get that like, you know, there's people who do podcasts, you know, like
Brian:me, like, and, and I'm not doing a lot of the original reporting and a lot
Brian:of the incentives in the, what I call the information space are to, to, to
Brian:stay on the analytical or if you're in politics on the, the, the opinion
Brian:and, and the shouting and the, level.
Brian:I mean, I think that, that connecting the dots when done well is, is a,
Brian:a is, I guess it's broadly like journalism, but I think on the
Helena:Oh, it's helpful.
Brian:reporting it's.
Brian:That is the knock, like whether or not this decentralization will, one of the
Brian:trade-offs will be far less reporting.
Brian:Like for instance, there was this controversy, I don't know if you saw
Brian:with the, the, the Cleveland, like is a plain dealer like editor, who they were
Brian:saying to, reporter, interns that you're just gonna be reporting gathering thing
Brian:and then you're not gonna be doing the writing, like the writing's gonna be
Brian:done through this AI process and whatnot.
Brian:And a lot of people were outraged.
Brian:And I kind of got that, you know, I'm a writer, I guess spiritually.
Brian:but at the same time I was like, realistically, I, it's
Brian:better for a reporter to be reporting than, than writing.
Helena:yeah.
Helena:I mean, I, I agree with you.
Helena:I, I, I do think that I've been somewhat helped.
Helena:I mentioned I was a accidental reporter.
Helena:I didn't go to journalism school.
Helena:I, I wrote my thesis on food policy, and that's how I fell
Helena:into reporting kind of random.
Helena:you know, I was interested in the subject area, subject matter first, so I did
Helena:not grow up wanting to be a reporter.
Helena:I don't have the same romantic attachment or like nostalgia for like, the old
Helena:way of doing things like the newspaper.
Helena:Like, you know, a lot of, a lot of people grew up, who wanted to be
Helena:reporter since they were like five, and they have this very specific
Helena:idea about how things should work.
Helena:I am thankful I don't have that, like I view reporting as super essential
Helena:to like a functioning democracy.
Helena:So important.
Helena:Journalism is very, very important, but I don't have that like romantic sort of,
Helena:this needs to be done this certain way.
Helena:We have to have print, whatever.
Helena:I had a mixed reaction to that as well, because I think that.
Helena:Journalists need to be focused on what humans can like very
Helena:uniquely do that AI cannot.
Helena:And that is to call people other people and talk to them, figure out what is
Helena:actually going on, talk to them off the record, talk to them on background, like
Helena:figure out what is actually going on.
Helena:Go interview people on the street.
Helena:These are things that, you know, the robots can't do.
Helena:So we should be focusing on like, what can we do?
Helena:No one should be spending their time rewriting stories,
Helena:rewriting press releases.
Helena:Like I think that that era is gone.
Helena:so we do, we have to adapt, we have to change.
Helena:I get the knee jerk sort of like, yikes.
Helena:that is scary idea that the machines are like deciding which quotes are in or not.
Helena:But like that probably is the way the world's going.
Helena:And like we need to figure out, how to do it responsibly.
Helena:How to have the right editors.
Helena:I mean, even A A RP is using AI to edit, like recall notices.
Helena:Like I, like you go to their website.
Helena:A A RP is like, you know, has some of the biggest scale in media.
Helena:People don't realize this 'cause there's so many people that belong to a RP.
Helena:and you know, A A RP is using AI to edit, like recall notices because you know
Helena:everyone but especially the elderly who their immune systems are not as strong.
Helena:Like they need to know about recalls.
Helena:So they're using AI to rewrite those.
Helena:Well, when I started my career, at Food Safety News 15 years ago, I was rewriting.
Helena:Call notices.
Helena:There's no, that's not something reporters probably should be doing anymore, unless
Helena:you're adding some original reporting.
Helena:And so we are gonna have to adapt.
Helena:We're gonna have to change.
Helena:We need to lean into what, humans can uniquely do.
Helena:I will say though, I have learned that people love the curation
Helena:and aggregation, and it's weird.
Helena:I've, I've actually expanded the, like what I'm reading section in
Helena:the newsletter because I got so much feedback that it was so helpful.
Helena:And I do think probably eventually that will just all be done by ai.
Helena:Like, but people freaking love it.
Helena:They, they're overwhelmed with information.
Helena:And as the reporter, I'm like, this isn't original.
Helena:I'm not writing this.
Helena:Why do you, people want, you know, why do you want this?
Helena:And, but
Helena:they, they want the
Brian:I was like, I was like, oh, this, like, what shouldn't
Brian:machines be doing this?
Brian:but maybe, I don't know, like,
Helena:have, I have a human help me do it because it, you know, and we really
Helena:take time to think about like what should be in and what should be out.
Helena:So
Helena:maybe that is a uniquely human thing.
Helena:Yeah.
Helena:That's
Brian:five people like working like part, like, so what, what
Brian:do you, like, who do you have?
Brian:Like, like which functions?
Helena:I have two editors.
Helena:I have a podcast manager.
Helena:I have a VA and an editorial assistant, and then I have really part-time tech
Helena:help, like, basically like a on call, like if something, but I will say
Helena:I use member full to, this is not a plug for, no, this is not Paid Plug
Helena:for Member Full, but I use member Full to, to monetize the, the site.
Helena:And they, have a really great, really great team and they're super
Helena:responsive and like, so I also have a lot of, if anything ever gets weird,
Helena:I have a lot of help from them too.
Helena:So, you know, it's a pretty lean operation.
Helena:But you know, it takes, you know, this, I'm not gonna learn how to code anything.
Helena:I'm just not gonna do
Brian:you don't need to do that anymore.
Helena:well, but I don't even know how to not code and make stuff.
Helena:You know what I mean?
Helena:Like that you have to learn how to do that.
Brian:I think the bigger, I think the bigger decision is on
Brian:the business model side, right?
Brian:Is like you, you don't, you're, you don't have ads, you don't do events.
Brian:Right?
Brian:And like
Helena:Not yet.
Helena:I probably will eventually do
Brian:okay.
Brian:'cause that's the, I think those are like the questions because
Brian:that is where the complexity,
Helena:Yes.
Brian:is because when you have, when you have clients, you've got
Brian:an entirely different business.
Brian:I
Helena:Entirely.
Helena:I'm aware.
Helena:Yeah.
Helena:Yeah.
Brian:I, I spend.
Brian:80% of my time on things that have nothing to do with the content,
Brian:um,
Helena:that, yeah, you've got a lot of events and webinars and you got a lot
Helena:going on.
Helena:I think about that.
Helena:I'm like, gosh, his calendar.
Brian:it's stressful.
Helena:one thing I, we do
Brian:That's why I'm, I'm very jealous of your model.
Helena:well, we, I wanna get into institutional subscriptions,
Helena:which is more complex to set up.
Helena:I actually have the tech, I had the tech built to do this, but
Helena:running the process of institutional subs is a different thing.
Helena:Right.
Helena:You're talking more high dollar.
Helena:You, you got contracts involved, you have some tech, like, there's, ip,
Helena:it's just, it's
Helena:more
Brian:right?
Brian:Because like you, everyone wants things bought and just
Brian:very few things are bought.
Brian:Like most things are sold, like subscriptions are bought.
Brian:And the reason I think that journalists, were very attracted
Brian:to models like Substack is because.
Brian:They didn't wanna sell to
Brian:anyone.
Brian:And I
Brian:there like, there's, there's the church and state thing, but
Brian:really they didn't wanna sell.
Brian:Like there's type of people.
Brian:And when I tell this to like, people who are like salespeople by nature, like,
Brian:I'm like there, you know, there's a lot of people out there who don't like
Brian:to ask other people for money, right?
Brian:And they're like, what are you talking about?
Brian:I'm like, no, seriously.
Brian:I'm one of them.
Brian:Like, there, there's a lot of us out there and I think a
Brian:lot of journalists don't like,
Helena:yeah.
Helena:I don't really send marketing emails.
Helena:I do.
Helena:I know people are like, what is wrong with you?
Helena:but I
Helena:do, you know, in every free
Brian:think it's a personality type.
Helena:the, free, the free newsletter is like top of funnel in a way.
Helena:Like, so it's, I always have at least two blurbs in there that are
Helena:like, you know, you're missing out if you're not getting the paid addition.
Helena:And,
Brian:You're good with the consistency.
Helena:it's, yeah, we, it's, but it's not where I'm not hitting
Helena:people over the head with it.
Helena:And also I have, like, if someone is on SNAP or WIC or one of
Helena:these federal nutrition programs, they can get it for free.
Helena:They just email and, Yeah, it's working.
Helena:So for right now, we're
Brian:Okay, so you're you're adding a, a podcast and what
Helena:It's called American Dish.
Helena:Everyone should
Brian:American Dish.
Brian:It's a little bit more consumery I felt like than, than I was expecting.
Brian:So, so talk,
Helena:So, American Dish, launches March 4th.
Helena:the idea for the podcast is a little bit, is a little bit
Helena:responding to the moment we're in.
Helena:So I've been doing this for a really long time.
Helena:I've been covering food policy for, you know, more than 15 years, and now all
Helena:of a sudden everyone is at my party.
Helena:Like everyone's talking about food policy.
Helena:We've got all the, you know, there's all the wellness podcast people, there's
Helena:the manosphere, there's the Silicon Valley biohackers, like everyone is now.
Helena:Coming to this in different ways.
Helena:And so I am trying to take a step back and have it be a little bit more consumer
Helena:facing, like ta I'm sitting down and talking to some of the smartest people
Helena:in the space to zoom out because so many people are getting their information
Helena:now from these like super short clips that are super alarmist or black and
Helena:white or really like oversimplified.
Helena:And so, you know, being the policy reporter, I am, I'm like,
Helena:let's, let's go into the nuance.
Helena:Let's like dive into it more.
Helena:And also we're gonna pull short clips out of it.
Helena:And I refuse to make real, we don't really do social media as like a focus
Helena:other than LinkedIn because again, the whole point is to get someone
Helena:on the free list and then hopefully, eventually convert them to paid.
Helena:I am not randomly finding those people on TikTok.
Helena:Like that's not.
Helena:You know, and you don't own that channel.
Helena:So, it is a little bit of a play into experimenting more with social, but
Helena:I have found that podcasts appearing on them, in any way, like it's a
Helena:much more evergreen marketing thing.
Helena:Like people will find the podcasts from like interviews I
Helena:did years ago, 'cause they might be searching a particular topic.
Helena:And so part of it's just an experimentation of like another
Helena:way to market without marketing.
Helena:and also I find podcasting very easy compared to writing the newsletter.
Helena:it's just, you know, I know the people.
Helena:Yeah.
Helena:I listen to
Brian:I feel guilty as I, I do more podcasting.
Brian:'cause I've always, I always thought about
Brian:it as like soft, soft retirement for writers.
Brian:Once they got too tired.
Brian:That's why, that's why there's so many
Helena:It's hard to set up.
Helena:I will say I've spent like a lot of time on the, like pre-launch, like
Helena:setting it up is a lot of work, like way more work than I think I understood.
Helena:But the actual act of doing it is, and it's very natural for journalists too.
Helena:'cause like, we're curious, we have a lot of questions.
Helena:I know a lot of these people, so like, you know, it's easier for me to get
Helena:bigger names to come on just because I know I've been in this space for a
Helena:while and so, but it is a little more B2C I, I'm not initially monetizing it.
Helena:I probably will eventually.
Helena:but we'll see.
Helena:Like, I don't want anything, anything that is monetized on the podcast will
Helena:not have a like, direct conflict.
Helena:So if anyone wants to like, sell knives or like, you know, something
Helena:that's not, anti like farm Bill or whatever their thing is, right?
Helena:Like,
Brian:Don't take
Helena:to me,
Brian:way, but you're s even though you're an accidental journalist,
Brian:this is such a journalist approach.
Helena:I know.
Helena:Oh, I
Helena:know.
Helena:I make
Helena:no
Brian:selling, selling ads is a, is, is horrible.
Brian:And it's so hard.
Brian:And then like a journalist is like, not only am I gonna sell, sell ads,
Brian:but I'm gonna, I'm gonna type both of my arms behind my back and be like,
Brian:I have this super valuable niche, and instead I'm gonna sell it to
Brian:the Ginsu knives people instead of,
Helena:if you're listening, I am open for, I'm like, I will not be
Helena:covering anything related to, I don't know what their issues are, tariffs
Helena:related to materials, whatever.
Helena:Like I'm all for it, so
Brian:talk to me about that.
Brian:So you're just like totally anti ads then.
Helena:I'm not anti adss.
Helena:I'm anti ads that present a conflict or that appear to present a conflict
Brian:Is it because you sell them?
Brian:Why don't you just have someone else sell 'em?
Helena:yeah, I could have someone else, but it's just, it's, there's just not.
Helena:A lot of distance, and it's still my name that goes in your
Brian:Ah, interesting.
Helena:one day when it maybe isn't my name.
Helena:Just going when it's not as much of an individual.
Helena:If I go that direction, then that's different.
Brian:Have you decided if you want to go that direction or you, you
Brian:haven't decided, it sounds like,
Helena:I think I probably eventually will expand with more people.
Helena:but I do not have like an immediate plan to do that.
Helena:you know, we'll see how it goes.
Helena:But again, it's the chasing the toddlers, covering the Trump administration,
Brian:yeah, and so that's a complexity thing.
Brian:And also I think one of the things
Helena:I think having full-time employees is a different, is just a different
Brian:did you manage people at Politico?
Helena:Mm-hmm.
Helena:I mean, I mentored a lot of people.
Helena:Yeah.
Brian:but that's different.
Helena:Yeah.
Helena:No, it's different.
Helena:it's different.
Brian:It's different.
Brian:I think a lot of people in this area, struggle with the first hire.
Helena:Yeah.
Helena:Oh, I think it's
Brian:mean fractional, I don't mean like, you know, part-time
Brian:people getting a podcast producer.
Brian:I
Brian:mean,
Helena:no.
Helena:Yeah.
Helena:Yep.
Helena:a full-time person?
Brian:no, I only have fractional.
Brian:I, I tried, I, I went down the path of like a full-time hire and I
Brian:didn't, it didn't, I didn't love it.
Brian:Like be, and not, not against the, person, but
Helena:Well, it's hard because what you need is so many different things.
Helena:It's hard to think about what that role is.
Brian:Weirdly in media, media needs more business.
Brian:Not, it's weird because like generalists really bad, tough area when you're a
Brian:journalist, generalists on the business side of media really valuable, at
Brian:least to me and to, to you and to
Brian:other people because like you, you have real needs.
Brian:That are not full-time jobs.
Brian:And a lot of people have narrowed and become specialists in such an too
Brian:much, in some ways because you need them to do three different roles.
Brian:And at least what I have found is not a lot of people can, can do that.
Brian:I, I guess that's like natural and so you end up going to a fractional approach
Brian:because otherwise the reality of this, these models is a lot falls on you.
Brian:Like you just can't outsource, you know, stuff like, you
Brian:know, like I'm sure like if,
Helena:this is part of why I don't do ads is that I am
Helena:aware of like the operational, like set up needed to do that.
Helena:I mean, vaguely.
Helena:Right.
Helena:And it is more, It's more work to show the, the, you know, the impact of those.
Helena:It's just a whole other workflow that I don't have, and it's
Helena:really nice to not have it.
Helena:What I am seeing happen, which I think is great, is there's more, businesses,
Helena:consultancies, whatever, kind of springing up to serve kind of like you and me.
Helena:Like, whether it's like, PR targeted to more like solopreneurs or,
Helena:or even just journalists, really specifically like looking at event
Helena:planning, like live podcast setups.
Helena:I, I'm seeing more of that start to happen, and I think that
Helena:there's a real space for that.
Helena:Like, you know, maybe you don't have a full-time events person, but you
Helena:have like a go-to agency or small consultant group where you're like, oh,
Helena:th these are my folks who I bring on.
Helena:And maybe there's like an arrangement every time that's different about how you
Helena:make that work, but I, I really think that's missing.
Brian:To me, that's the infrastructure, like infrastructure is not just technology
Brian:and the tech people will, will pretend it's, it's just technology platforms.
Brian:But the reality is, no media business is primarily journalists.
Brian:Journalists are a minority of those businesses.
Brian:Now why is
Helena:Yeah.
Helena:And they're viewed as cost centers instead of
Helena:like
Brian:there, there are some things that like, you know, but like the,
Brian:the, the reality is there's a, the publishing function is far beyond.
Brian:There's a lot of people there doing a lot of different things.
Brian:And when you go to a very lean, independent model, you have to
Brian:decide which of those things you're gonna do because you're
Brian:going to need infrastructure.
Brian:And, you know, I think that, and I, there's a lot of people who are
Brian:trying to build these kind of things that are basically a shared services,
Helena:Mm-hmm.
Brian:model where.
Brian:You can tap into a shared services for growth, for, for sales, for
Brian:events, and for, for other things, because it is, it is a lot like when
Brian:you start to add clients, like you add clients, like, I mean, that,
Brian:that, that comes with obligation.
Brian:It just doesn't come with like, money.
Brian:Like you gotta, like, you gotta serve the clients.
Brian:You gotta, do the reports and you've got to, and the reality is
Brian:a lot of the monetization outside of subscription is not turnkey.
Brian:It starts to look like an agency.
Brian:It starts to look like a
Helena:yeah.
Helena:yeah.
Helena:And that's a lot of work on your plate.
Helena:Yeah.
Brian:yeah.
Brian:So, I admire your,
Helena:you.
Helena:Well, it, I think the fact that I'm still growing gives me, some more
Helena:runway to like push those decisions off.
Helena:Right.
Helena:but we'll see, we'll see when, when the business hits a wall, if
Brian:well, it's impressive that you haven't hit a subscriptions wall because
Brian:usually people who go down your path hit that wall after a couple years.
Brian:It's like the first year it's like amazing.
Brian:It's growing, it's great and everything.
Brian:And the reality of any subscription business that I've seen up
Brian:close is you hit a wall and then it becomes incremental.
Brian:It becomes optimization tactics.
Brian:And guess what?
Brian:That's a lot more like specialized work that a lot of
Brian:like journalists don't, haven't done before.
Helena:Oh, I'll, I'm gonna be consulting people when we hit that because I, yeah.
Helena:I don't have an interest in spending time on that either.
Helena:And I think knowing that is part of.
Helena:Is good, right?
Helena:Be like, I'm not gonna learn how to do that.
Helena:I'm gonna find someone to do that.
Helena:you know, do you know what your total addressable market is?
Helena:Your tam I had to like Google all these things, right?
Helena:'cause I was not an entrepreneur.
Helena:I realize that's also a made up number.
Brian:I mean, I, to me, to me, the, the, the, the tam stuff
Brian:is, is it's done for investors.
Brian:It's made up and it's, it's always far bigger than it really
Helena:Yeah.
Helena:All the media biz people were trying to tell me how to calculate this, and
Helena:I was like, this is not something I can
Brian:uh, yeah, and you're pro your, your time is probably better spent, like
Helena:yes.
Helena:Yeah.
Helena:Yeah.
Helena:And, but I, I don't think I've hit, like there's still room to
Helena:grow, so we'll keep trekking along.
Helena:yeah, it's, and then, you know, we'll see where this goes.
Helena:I think, Maha has like ripped open a new kind of.
Helena:Dimension of food policy and like, it'll be interesting to
Helena:see where that goes next, so
Brian:for sure.
Brian:I think the, just one, one final question on, on the Maha stuff and,
Brian:and your, 'cause we, we've talked all about the business stuff, but,
Brian:I eat and so I'm interested in this.
Brian:can you tell me why those of us who like go, take trips to Europe and whatnot,
Brian:why, and I'm sure you've gotten this question, I mean, it's kind of like for
Brian:me, like, you know, being close to the ad tech world, getting asked like, what are,
Brian:are they listening to us on our phones?
Brian:'cause I swear to God, I got an ad right after we talked about this
Brian:or that.
Brian:Why do, why do we feel better?
Brian:feel fine.
Brian:We'll eat pasta all, all week in, in Italy and stuff, and we'll feel like
Brian:light is a feather and we'll come back here And, we feel bloated and I feel
Brian:like they're Maha has taken off because we keep being told that it's not.
Brian:No, no, no.
Brian:It's because you walk more and like, everyone's like, you're just lying to us.
Brian:You've gotta be kidding me.
Helena:So, I mean, the truth is we don't know, like no one is
Helena:incentivized to answer that question.
Helena:Like who, who has the financial incentive to answer that question?
Helena:Right.
Helena:it is so common though, to hear that discussed.
Helena:It is so common now that Republicans are praising Europe, right.
Helena:Because of how much better they feel when they travel there.
Helena:And that honestly is something you, that is one of the driving
Helena:narratives of Baja, is that Europe's food is better than the us.
Helena:I mean, they, they don have a more precautionary regulatory system.
Helena:So there's just a lot of things that they just don't allow, like additives.
Helena:And they're, they, they're, they're more cautious, that's for sure.
Helena:But
Brian:Fanta tastes different in
Helena:well, it
Helena:has different ingredients.
Helena:It
Brian:and has different ingredients, and I constantly feel like United
Brian:States corporations are serving us.
Brian:I'm gonna get all conspiratorial here.
Brian:They're serving us crappy crappier food and crappier
Brian:products than they are in Europe.
Brian:You go to a Starbucks in Europe, it looks totally different
Brian:than the ones here you go.
Brian:I'm like, why are we getting the crappy stuff?
Brian:crappy food.
Brian:Like, we can't even make butter that tastes right.
Brian:Like, and, I don't understand.
Brian:We have a lot of cows.
Brian:why does Europe, why does, why does butter taste completely different in
Helena:It, the regulatory system is totally different.
Helena:And also it's cultural, right?
Helena:Like in Europe, they have a much, generally they have a
Helena:much stronger attachment to like, local and regional food.
Helena:And like, I mean, God forbid you call sparkling wine from
Helena:California champagne, right?
Helena:Like the, this, there's a lot more,
Brian:Like towns
Brian:in Italy have, have their own pasta,
Helena:uhhuh.
Helena:So part of it's culture, but we actually don't know.
Helena:And like, this is one of my soapbox, the soapbox that I always get on.
Helena:We, there are so many questions about nutrition and, health that we have
Helena:never studied because there isn't a lot of federal investment in it.
Helena:So like.
Helena:We don't actually know why people eat more calories when they eat processed food.
Helena:Like we don't know the answer to that.
Helena:Even though most of the American diet is now ultra processed and
Helena:now everyone's talking about ultra processed food, we like lack basic
Helena:science around some of these questions.
Helena:And everyone always asks the Europe thing like, because you hear like,
Helena:oh, is it just 'cause I was walking?
Helena:Am I less stressed?
Helena:Are people around me less stressed?
Helena:'cause they are, they seem like they're enjoying themselves, right?
Helena:So what is the food?
Helena:What is it stress?
Helena:Maybe it's all the above.
Helena:Maybe all those things are working together that you're on vacation,
Helena:you're walking more, you're less stressed and the food is different.
Helena:I mean, this is a study that could be done, done.
Helena:There is actually, Todd Wagner, who I think was business partners with
Helena:Mark Cuban does a lot of work in this space, like food additives.
Helena:And he was.
Helena:Actually, the reason he got into this is because he would have
Helena:migraines in the US and they would go away when he went to Europe.
Helena:And he was just like, are you kidding me?
Helena:Like, something is not right.
Helena:And he's actually like, helped them pass like additive bands in
Helena:California and like is working on this.
Helena:And it is a precisely because of that personal experience and like,
Helena:we don't have the science to back it up, but like anecdotally, people get
Helena:really fired up about this and like, you know, I, I, I don't, I never like
Helena:dismiss someone's personal anecdote.
Brian:Well enough people have them.
Brian:And if you have enough experience with it, you're like, this is, this is real.
Brian:This is true.
Brian:Um,
Brian:so
Helena:part of MAHA now.
Helena:Brian,
Brian:no, forget about the Mexican Coke.
Brian:Like I want the European Fanta to be here because it tastes like fruit juice.
Brian:more than just like, whatever it is, like here, I don't get, so
Helena:Well, I will say for people who are not in the weeds of Maha mostly
Helena:right now, we're doing a vibe shift.
Helena:They're extremely anti-process foods in their rhetoric, and they're, they are,
Helena:some states are banning soda from snap, but we have not had regulatory change yet.
Helena:So like that's very, TBD like Maha really does not like ultra processed foods.
Helena:But if anyone out there is wondering like, have we banned
Helena:anything or what we have not.
Helena:So we'll see.
Helena:Brian, you
Helena:gotta tune in to Food Fix if you wanna
Brian:Okay.
Helena:figure out what's, uh,
Brian:the European Fanta episode, have me on as
Brian:like a
Brian:little cameo.
Helena:I'm putting it on the list.
Helena:That's a great, that's a great podcast
Brian:All right.
Brian:Thank you, heli.
Brian:Thank you
Brian:for saying that.
Brian:Appreciate it.
Helena:Thank you so much.