Sorry Peter…Meidas is NEVER Selling Out to Billionaires!

Written by Ben Meiselas

I hope you had a great holiday.

I wanted to address some interesting comments I recently received on our Substack. Some people seem upset that the MeidasTouch Network has rejected outside investors and billionaires as shareholders. Critics argue that by staying independent, we’re holding the network back. I take this criticism seriously.

For example, I received this comment from “Peter,” who claims I’m “missing the ball” by not taking venture capital to fund the network.

Peter argues that MAGA media companies don’t rely on subscriptions to a Substack (he calls it a “blog”) and that they have a big advantage over us because they’re funded by rich MAGA donors. He thinks we should stop focusing on increasing Substack subscriptions and instead start raising money from very wealthy people.

Here’s what Peter wrote:

For anyone who shares Peter’s view, let me explain why it’s so important that we stay independent.

Most importantly, we need to stay independent because I don’t want anyone controlling our content—especially not billionaires or oligarchs.

When billionaires and outside interests dictate what a media network can and cannot say, the truth suffers. We’ve all seen how corporate media has sold out to Trump’s billionaire allies, normalizing his dangerous behavior and undermining our democracy.

I could never allow MeidasTouch to become a tool for propping up oligarchs or special interests. Our accountability lies solely with you—the Meidas Mighty—and no one else.

Peter and those who share his view fundamentally misunderstand what makes the MeidasTouch Network so special.

Our independence is not a weakness—it’s our greatest strength. Being a people-powered network defines who we are.

Yes, Peter is probably right that we could bring in a lot more money if we sold out to private equity, venture capitalists, or billionaires. But at what cost? At what cost to our content, our authentic voices, and this incredible community we’ve built together?

Turning down outside investors hasn’t weakened us—it’s made us stronger.

I’m sure relying on paid subscriptions to this Substack to grow isn’t what they’d teach at business school. But real change requires thinking outside the box.

Our vision is to create a people-powered media network—built on shared values and principles. This isn’t just a media company; it’s a movement.

And the results speak for themselves.

Fox News, CNN, and MSNBC are funded by billions of dollars each year, yet MeidasTouch Network gets more digital views than these networks. And yes, Peter, we’re achieving that growth with tools like this Substack—this “blog,” as you call it.

I understand why Peter might be frustrated that we aren’t growing as quickly as we could if we took big checks from billionaires. But building an independent media company is my life’s mission, and I feel a solemn responsibility to this community to stay true to that mission.

If you believe in this mission, I hope you’ll consider becoming a paid subscriber to this Substack. It’s one of the main ways we continue to grow without ever selling out.

I doubt Peter will become a subscriber—but for those who are part of this community, I know you understand the generational importance of what we’re building here. You either get it, or you don’t.

The Meidas Mighty get it.

Thank you for being part of this journey. Let’s keep making history together.