📚 Substack Writing Research

Patterns from Top LP/GP/Founder Writers

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Key Finding: Top Substack writers are unconsciously following your essay framework. This validates your structure — you can execute with precision where they rely on instinct.

📊 Research Overview

Articles Analyzed: 16 Substack posts from 10+ authors

Focus: TOV, structure, storytelling, engagement, frameworks

Total Analysis: 40,000+ words

📄 Read Full Research on GitHub →

🎯 6 Core Patterns

These patterns appear across all top-performing articles:

1. Emotional truth before data Every strong piece opens with scene/observation, not setup. Matches your Step 2 (Opening Scene).
2. Insider credibility Proper nouns (real names, deals, numbers) throughout. Matches your Step 5 & 6 (Data + Personal Layer).
3. Framework thinking Reusable mental models, not one-off takes. Matches your Step 4 (Arguments).
4. Rhythm mastery Long → short → punch structure creates engagement. Matches your Step 4 note.
5. Philosophical arc Start narrow → widen → close with reflection. Matches your Step 7 (Close).
6. Tweetable insights Quote-worthy lines built in for distribution. Matches your Step 8 (Thread Hooks).

✍️ Top Authors Analyzed

Jordan Nel (@jordsnel) LP perspective, 8-factor GP framework, arbitrage windows. Framework-heavy, insider specificity.
Nikunj K (writing.nikunjk.com) "Stop Being a Tourist", SF ecosystem, founder conviction. Scene-setting master, punchy rhythm.
Edelweiss Capital Dot-com vs AI boom, bubble detection, defensive positioning. Historical parallels, data-rich narrative.
Matthew Mandel Deep tech theses, technology cycles. Thesis-driven structure, contrarian positioning.
PostRound "Attention Spikes vs Explainers" fundraising framework. Binary models, practitioner perspective.
Minutes "Craft Is the Antidote to Slop", theological take on AI. Counter-cultural, philosophical depth.

💬 Best Quote Examples (Study These)

"Tourists chase cycles. Locals build through them."

— Nikunj K, "Stop Being a Tourist"

"Each emerging manager looking to raise from LPs should have a very clear raison d'etre."

— Jordan Nel, "Unbundling One"

"Great technologies and great investments are not always the same thing, especially at euphoric valuations."

— Edelweiss, "Dot-Com Bubble vs AI Boom"

"We can and should automate toil, but we must preserve craft."

— Minutes, "Craft Is the Antidote to Slop"

"The question isn't 'have they got it all figured out?' but rather 'are these people uniquely capable of figuring it out?'"

— Jordan Nel, "An LP's Guide"

🎯 Application for Your Writing

Your Unfair Advantages:

✓ $1.1M raised (Marsbase), $10M IR infrastructure (Yellow Capital)
✓ $60M+ secondary deals, $350M+ tokenization pipeline
✓ 10 years crypto/tech at age 27 (young + experienced = rare)
✓ Podcast (Venture Protocol), 1000+ investor network
✓ MENA/US/Asia reach, Ukrainian in Dubai

How to Deploy:

Demonstrate these through specific stories, not claims. Use proper nouns:

→ "When Yellow Capital was raising $10M..."
→ "In every LP call I take..."
→ "Dubai/DIFC financial ecosystem..."
→ "Raising for Marsbase in 2023: $1.1M from WebWise, YAY Network, NovaCyber..."

📖 Key Frameworks Extracted

1. The 8-Factor GP Framework (Jordan Nel)

Every GP must: source, pick, win, value, construct portfolio, king-make, raise capital, sell positions.

2. Arbitrage Window Thesis (Jordan Nel)

Find where capital is NOT flowing, assess talent/company quality, time entry for low prices + less competition.

3. Bubble Detection Checklist (Edelweiss)

5 indicators: valuations far from reality, capital flooding "just in case", few profitable use cases, perpetual disruption, creative financing.

4. Two-Type Fundraise Model (PostRound)

Attention Spikes: Team pedigree, viral traction, fast rounds.
Explainers: Require conviction building, slower, often better long-term.

5. Insider Credibility Stack

Layer lived experience → proper nouns → private knowledge → contrarian take backed by experience.

🔗 Resources

Full 40K-word Research Document →

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