I don't disagree with your suggestion, but I think a better example of how this should work is the left side of the top bar at reddit. A slight change could (should) be made so it would be "Categories/Tags", "Following", "All Posts" and "Random Post". I guess the last of the four would be like what you suggested, but in general being able to follow specific categories/tags will be very beneficial to both the author and reader because it ensures that a science fiction short story will get read by someone who wants to read a science fiction short story instead of just scrolling through the feed/stream and getting overwhelmed before they get to the story. People would still have the ability to go back and see the full stream, but the default should be some kind of personally curated list first instead of "trending". I have the feeling the posts that show up when you first log in give people a false expectancy of what they will earn and they get easily frustrated and give up when they don't make four digits regularly.