Substack is the tougher target because perfect execution on newsletter distribution (10) plus network effects of creator lock-in actually matter, whereas "Medium" is just a content graveyard where writers flee the moment SEO traffic dries up.
You can clone Medium's homepage in an afternoon; you cannot clone 100M monthly readers, a decade of writer payouts, or the recommendation engine that makes those readers show up.
Full teardown →You can prompt your way to a pretty Substack-shaped homepage in an afternoon, but you'd need a small engineering org and years to rebuild the email, payments, and creator-payout machinery actually running underneath it.
Full teardown →