What is up everyone? This is Alex Lieberman, co-founder and CEO of Morning Brew,

coming to you with another episode of The Founders Journal, My Daily Audio Diary,

made public for the world where I talk about the most important wins, losses, challenges and thoughts behind the scenes at Morning Brew.

As always, I am joined by my co-pilot Josh Kaplan, and today we are talking about the power of scarcity. Josh let's do it

scarcity exclusivity what what did you read that brought you into it?

Yeah so I I read an article by Anthony Pompleano aka Pomp this morning and the whole

article was basically about the digital art market, how there is this, I don't even call it resurgence, but this growth in digital art pieces where literally artists are creating pieces that are either fully or partially created through technology and you

experience the art through technology and the bet he is placing is that these are going to become

collectors items like many other things and it got my wheels turning about the power of scarcity

Digital art. That's yeah that makes sense. I mean it's that anything scarce can be made more valuable supply and demand. We learned about this.

How do you apply it to Morning Brew? Yeah, so I mean it got me thinking about what does the Brew do as it relates to maintaining scarcity?

Like where do we use that to our advantage?

And also it made me think about what is the difference between scarcity and

exclusivity and how can we deploy this moving forward.

So I think there are a few places that we very clearly use scarcity as a business.

The first is with a new subscribers.

Morning Brews referral program is one of the largest assets to us as a business.

We have 2.4 million subscribers on our main newsletter.

We have over 300,000 people that have gotten at least one referral.

By getting referrals, you get access to stuff

that people don't have access to.

It is a status symbol if you are someone who reads Morning Brew

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