Investor Due Diligence Report
Ian Leslie picks out the most important, interesting and beautiful signals from the noise.
41K
4.1K paid
~0%
Subscriber count is a platform estimate
Insufficient data
16 of 30 days needed
Pricing
$5/mo
$50/yr annual option
$16K
4.1K paid subs
$16K/mo – $16K/mo(±0%)
2.5
52.5
0.13%
(comments + likes) / subscribers
Bi-weekly
0.6 posts/week
Score based on available components only.
| Component | Score | Weight |
|---|---|---|
| Newsletter | Subscribers | Weekly Growth | Price | Platform |
|---|---|---|---|---|
| User Mag | 99K | +0.5% | $8/mo | substack |
| FRESH HELL Tina Brown's Diary | 90K | +0.6% | $6/mo | substack |
| The Fucking News | 48K | N/A | $9/mo | substack |
| The Bureau | 36K | +1.8% | $11/mo | substack |
| So What |
| Month | Subscribers | Est. Revenue | Change |
|---|---|---|---|
| Feb 2026 | 40K | $15,900 | — |
| Mar 2026 | 41K | $16,297.5 | +2.5% |
| Apr 2026 | 41K | $16,297.5 | ~0% |
Platform Dependency
Hosted on substack subdomain
Key Person
Single-author publication — key-person dependency
Audience Concentration
Consistent engagement across posts
Revenue Model
Active paid subscription tier
Subscriber threshold
41K subscribers — above the 3K category median for first paid tier
Has paid tier
Active paid subscription offering
Peer monetization
100% of 53 similar-size peers in Media have paid tiers
Pricing position
$5/mo vs $27.39/mo category average (839 newsletters)
| Date | Monthly | Annual |
|---|---|---|
| Mar 2026 | $5 | $50 |
Disclaimer: This report is generated automatically based on publicly available data and proprietary estimation models. Estimated subscriber counts are derived from engagement patterns and should be verified through direct disclosure. Revenue estimates are based on known pricing and estimated paid subscriber counts. This report is for informational purposes only and should not be the sole basis for investment decisions.
| Engagement Rate |
| 50/100 |
| 30% |
| Paid Subscriber Ratio | 100/100 | 25% |
| 33K |
| N/A |
| $6/mo |
| substack |