My newsletter: https://simonowens.substack.com/

Michael Fritzell doesn't fit the typical profile of a newsletter writer. Before launching Asian Century Stocks, he spent 15 years inside the machinery of global finance — working in investment banking and eventually managing money for a wealthy family in Singapore. A Swedish native who studied Chinese at Peking University, Michael built a career analyzing overlooked equities across China and Southeast Asia. When he struck out on his own to launch the Asian Century Stocks newsletter in 2021, he wasn't experimenting with a side hustle — he was walking away from a traditional finance track to build a niche media business focused on Asian stocks that most Western investors ignore

Launched on Substack and now operating independently, Asian Century Stocks sells in-depth, 40- to 60-page research reports to paying subscribers, many of whom are professional investors accustomed to paying banks tens of thousands of dollars a year for comparable research. Michael positioned himself as a bridge between local Asian markets and global capital — offering deeply reported, independent analysis without the conflicts that often accompany sell-side research.

In an interview, he explained how he went from anonymous finance professional to six-figure recurring revenue newsletter operator, why he ultimately left Substack for Ghost, and what it takes to monetize serious financial research in a tightly regulated industry.

My newsletter: https://simonowens.substack.com/

Michael Fritzell doesn't fit the typical profile of a newsletter writer. Before launching Asian Century Stocks, he spent 15 years inside the machinery of global finance — working in investment banking, buy-side firms, and eventually managing money for a wealthy family in Singapore. A Swedish native who studied Chinese at Peking University, Michael built a career analyzing overlooked equities across China and Southeast Asia. When he struck out on his own to launch the Asian Century Stocks newsletter in 2021, he wasn't experimenting with a side hustle — he was walking away from a traditional finance track to build a niche media business focused on Asian stocks that most Western investors ignore

Launched on Substack and now operating independently, Asian Century Stocks sells in-depth, 40- to 60-page research reports to paying subscribers, many of whom are professional investors accustomed to paying banks tens of thousands of dollars a year for comparable research. Michael positioned himself as a bridge between local Asian markets and global capital — offering deeply reported, independent analysis without the conflicts that often accompany sell-side research.

In an interview, he explained how he went from anonymous finance professional to six-figure recurring revenue newsletter operator, why he ultimately left Substack for Ghost, and what it takes to monetize serious financial research in a tightly regulated industry.

My newsletter: https://simonowens.substack.com/

In 2011, as the golden era of glossy newsweeklies was fading, former Time correspondent Nathan Thornburgh made a bet that serious journalism didn't have to look the way it always had. Alongside food writer Matt Goulding, he launched Roads & Kingdoms as a scrappy Tumblr experiment, using food as a gateway into geopolitics, history, and culture

Over the next decade, Roads & Kingdoms evolved from a bootstrapped digital publication into a creative hub for Anthony Bourdain—who invested in the company and used it as a base for ambitious editorial and branded projects. After Bourdain's death in 2018, the outlet was forced to reinvent itself. Nathan and Matt shrank the operation and rebuilt it around high-end culinary travel experiences. Now, they're relaunching the media arm with a membership-driven model and an annual print magazine

In a recent interview, Nathan reflected on the collapse of legacy media, the perils and possibilities of brand-funded journalism, and why he believes independent, reader-supported publishing offers a more durable path forward.