The Milk Road Playbook: How They Spun Crypto News into a Goldmine

In the world of crypto, things move at the speed of light. One day you’re up 10x, the next, your investment is worth less than a Starbucks latte. But there’s one thing that’s stayed consistently valuable: The Milk Road.

Launched in 2021 by Shaan Puri and Ben Levy, The Milk Road went from zero to 250,000+ daily subscribers in less than a year, making over $1M ARR (Annual Recurring Revenue) just from sponsorships. Then, in 2023, they cashed out big by selling the newsletter to The Block. Not bad for something that started as a side project.

Want to replicate their success? Here’s their playbook:

1. They Found a White Space & Nailed the Positioning

Before The Milk Road, crypto news was either too boring (think Wall Street Journal) or too degenerate (think meme-filled Twitter threads). They saw a gap and filled it:

👉 Tone: Fun, digestible, and full of memes. Like The Hustle, but for crypto. 👉 Frequency: Daily emails – short, punchy, and informative. 👉 Promise: “Crypto news you’ll actually enjoy reading.”

2. The Shaan Puri Distribution Hack

If you’re launching something and don’t have an audience, good luck. Shaan, however, had an unfair advantage—his audience. He had built credibility through his Twitter and My First Million podcast, and he leveraged the hell out of it.

Growth hacks they used: 🚀 Referral System – They gamified growth by rewarding subscribers who shared the newsletter with perks like exclusive content and crypto merch. 🚀 Twitter Virality – Shaan & Ben tweeted out spicy crypto takes that linked back to The Milk Road, funneling thousands of new subscribers. 🚀 Giveaways & Partnerships – They teamed up with big crypto brands to run giveaways, creating massive FOMO.

Proof it worked? They hit 100K subscribers in 6 months with basically zero paid ads.

3. Monetization? They Kept It Simple

Most people overcomplicate making money. The Milk Road didn’t.

💰 Sponsorships: They charged crypto companies to appear in the newsletter. Ads went for $10K+ per send at peak. 💰 Affiliate Deals: Recommending products (like crypto wallets) in exchange for commissions. 💰 Selling the Road: Their exit to The Block was the big payday (amount undisclosed, but let’s just say they won’t be eating ramen for a while).

4. Consistency & Quality > Everything

While most newsletters fade out after a few months, The Milk Road stayed relentlessly consistent:

📩 Daily Emails – No skipping, no excuses. 😂 Edutainment – Every email was informative but fun. Think memes + value-packed insights. 💡 Data-Driven – They constantly tweaked subject lines, formats, and content to optimize for open rates & CTR.

Result? A loyal audience that actually wanted to read their emails every morning.

5. They Knew When to Sell

Most founders fall into the “I’ll never sell” trap. Not these guys. They built The Milk Road for an exit from Day 1.

When The Block came knocking with a check, they didn’t hesitate. Smart move, because the crypto bull run was cooling down.

The Milk Road Blueprint (TL;DR)

✅ Pick a growing niche (crypto, AI, etc.) and own a unique angle.
✅ Build an audience BEFORE launching (or use a network like Shaan’s).
✅ Make sharing your content a game (referrals, Twitter growth hacks).
✅ Monetize with sponsorships & affiliates – keep it simple.
✅ Be consistent as hell – daily content = daily growth.
✅ Sell when the timing’s right. Exit like a boss.

Want to Build Your Own Milk Road?

The playbook is right here. Whether it’s AI, real estate, or any booming niche, the formula works. Now go build something people can’t wait to open every morning. 🚀