Why I Am Leaving Medium
Over the years (Since 2020, to be more exact), Medium has been a platform where I could discuss important topics like economics and retirement abroad.
More than 800,000 readers dedicated their time to my writings and shared their own insights. We learned together in this process.
Like the day one of my articles (How the World’s 8th Richest Man Lost 99.6% of His Fortune) went over 130 thousand reads, becoming one of the most-read pieces in its area. Many others went well over 50K viewers.
Thank you all again for that!
But like almost everything, times change, and this journey of writing for Medium, at least for me, is coming to an end.
Recently, Medium changed its monetization algorithm.
Before, we (writers) were paid based on the time that each reader spent on our articles.
That was very beneficial to me. I write long, detailed pieces about economics, investments, and retirement abroad. Often, my articles (like this one) pass the threshold of 1000 read-hours.
That paid well.
Since August 1, Medium has calculated our earnings using a new algorithm that considers claps and engagement, which are activated after readers spent only 30 seconds in an article.
Here is the problem: when you write about the surge in bankruptcy filings, you don’t get a lot of claps, obviously.
Articles that get a lot of clapping are often in self-help or optimistic tones. Things like Here is why you should look at the sky and thank the birds for singing!
I am not against this kind of subject, but this is not what I write about.
But things get even worse.
The Tik-Tokization of Medium.
Then there is the subject of how the new algorithm favors shorter articles, intended for readers with shorter attention spans.