Guest Lecture: Jake Sherman
The Punchbowl News co-founder on running a newsletter business that does over $20mm in annual revenue.
Good morning everyone.
This weekend, The New York Times published a story about money dysphoria (people who have a distorted view of their own financial well-being). This morning, The Cut announced that it’s "Debt Week". We’re talking about the dumbest economic crisis ever in the Feed Me chat.
Today’s newsletter includes: why 2025 brides don’t want to wear a dress you’ve already seen all over Instagram, Vogue’s new package about the future of appearances says that plastic surgery is just fashion for your face, How Long Gone pivots to video, and Bloomberg is powered by Zyn.
Guest Lecture: Jake Sherman
This interview is part of a Feed Me feature called Guest Lecture. In this series, I introduce you all to an expert who I’m curious about, and give paid readers an opportunity to ask them anything they want. Past guests have included Bloomberg’s Joe Weisenthal, Link in Bio’s , and Marie Claire’s Nikki Ogunnaike.
Jake Sherman is the co-founder of Punchbowl News (where subscriptions go up to $1,200/year), and this week he answered all of your questions about what he would’ve done if he was in the Houthi PC small group chat, the best Phish shows he’s seen, and his detailed media diet.
“Do you have any fun gadgets on your desk?” - Eddie
I don’t really have a traditional desk. Punchbowl News has an office, but I don’t have space there because I work in the Capitol five days a week. I keep some weird things, though. I have old tickets to joint sessions of Congress and some placards from hearings I’ve attended. I also have a collection of water bottles I don’t ever use. It seems like there’s always a new water bottle fad. I seem to fall for all of them. But they sit on my desk empty as I drink seltzer.
“What advice do you have for local news publishers to attract highly engaged readers/people willing to pay for subscriptions?” - David
Like anyone in journalism, I’m concerned about the state of local news. And I don’t profess to have the answers. I’m inspired by what a lot of folks have done, including the Texas Tribune and San Francisco Standard. My friends Jim VandeHei and Mike Allen at Axios have created a cool local news model, as well. That said, I think there’s a huge opportunity for local news. Communities are so hungry for information about what’s going on around them, yet local print media is dying. I really think community is at the core of a lot of this. If your audience is bought into what you are doing and who you are, that’s a huge plus. If I were starting a local news outlet today, I would have a two-way conversation with my audience. For example, at Punchbowl News, we do what we call the Brown Bag Lunch for our paying audience. We have hundreds of people log onto a Zoom once a month to hear a bunch of reporters talk about the news. They can ask us questions, pick our brains, etc. We get ideas from these events sometimes, as well. Social events are also huge in building loyalty. News outlets have to think of themselves as community builders that deliver news. We can’t sit in an ivory tower and report on just what we think is interesting. The reader is the customer and we have to also provide them what they want to read.
“How long would you have stayed in the signal group chat?” - Leah
It’s so easy to riff from the cheap seats. But a while?
“Thoughts on Phish at the sphere? I’m heading there for Dead and Co this month.” - Rachel
I’ve only been to the Sphere twice -- both times for Dead and Co. I think it’s an amazing venue that you should go to if there’s an artist there that you like. But I’d take an MSG show over a Sphere show in a heartbeat. Or a summer show at a shed like Merriweather or Alpine Valley.
“Tell us more about “new” media and individuals becoming media themselves like you & Anna. Will this trend continue ? What does it mean for legacy media? Will they embrace and let talent build their own voice ? How will they adapt?” - Sofia
I can’t speak to what the big outlets will do or should do because I am no longer at a big outlet. I will say, however, that it’s difficult to become a stand alone entity in a large newsroom.
We elevate our talent and want them to become huge. We have nine or so reporters, all of whom kick ass on their beats. We let them do their thing and try to stay out of their way. We are looking for new ways to give them bigger and better platforms and I think you’ll see some of that happen very soon with us. We also have a relatively flat decision-making process. So if someone has an idea, we try to let them execute on that pretty quickly. That doesn’t happen at large news companies.
“It feels like there were a lot more people leaking to the press during the first Trump administration and fewer during this current administration. Is that actually the case? Is it making it harder to do your job?” - Elizabeth
I don’t cover the White House on a daily basis. I deal with them a lot as it relates to legislating. I’m not really in the daily who-hates-who-in-the-White-House grind.
“Why is Feed Me a must read for you?” - Saba
I’ve told Emily this a million times but her secret is twofold and it’s a useful lesson for people who are trying to break through in media. She has a tremendous intimacy with her audience. Large news organizations cannot fake or make this. People feel like they know her and she’s a guide to this world. And she has a niche. I also like to read things that let me take a walk around someone else’s world and that’s what Feed Me is.
“I'd like to know about Jake's daily routine. Guy seems like he doesn't sleep. But he has to to perform. What time does he wake up, get to the office, etc? Does Jake work on both Saturdays and Sundays? If so, the whole days? Shit like that.” - Alec
I get this question more than any other question. I never answer. But what the hell: