A few thoughts on this from someone who knows a decent amount about this space. I'd be more skeptical if @bresreports wasn't involved. But the substance and editorial success of it I'll leave to others. If @benyt is right on the facts of this ... https://www.nytimes.com/2021/01/03/business/media/punchbowl-playbook-capitol-hill-politics.html

2/ the most significant parts of this story is that they've raised only $1 million and the operation has only five employees. Or one employee and four founders. In any case, only five salaries. That's smart. Indeed, raising only $1 million is INSANE unless you keep the ...

3/ headcount this low. Remember, these are all big players in this space. They're not working for 5 figures. Or at least they certainly wouldn't be on the open market. I assume they're taking lowish salaries in the short run in exchange for equity in the company etc etc.

4/ Given the names they'll likely sign up some advertisers quickly. And they'll certainly get some subscribers quickly. A million cash on hand and those coming online in the first six months, you can make that work. One curiosity, who does the tech, sales and miscellaneous ...

5/ fulfillment? Those things all need to happen (i know). Is Ben not counting those as employees or is that being outsourced - either to consultancy or some substack type operation?