I have friends that work for the Athletic and I subscribe, so I want to see it succeed.
But it's NEVER made money. Ever. It's been reliant on VC money to keep it afloat, and so far the subscriber model has depended on continually bringing in new subscribers at a particular rate, which in turn depends on adding new writers/coverage at a particular rate, which to be financially viable depends on adding subscribers at a particular rate, and so on.
It's a snake eating its own tail and it's terrifying to me.
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