He’ll have to clarify what else he meant, but I understood it to mean that a lot of the money that before would have been distributed after reads/reading time, are now being distributed to people who recruit members through their affiliate links.

So the great rewards do not come from creating content, but through recruiting new people.

It probably means the algorithms changes as well. Stories who recruit new people will be favoured over stories who get likes from already members maybe?

And algorithms do not ensure that subscribers see your content. His stats prove that the algorithms recently changed, though it’s not fully transparent how they changed.