Lucid
Investor Due Diligence Report
by Ruth Ben-Ghiat
substackPolitics
A newsletter for big-picture thinking about autocracy and threats to democracy around the world.
210K
17.9K paid
~0%
Subscriber count is a platform estimate
-0.0%
net churn
Pricing
$7/mo
$80/yr annual option
$109K
17.9K paid subs
$109K/mo – $109K/mo(±0%)
18.6
609.9
0.30%
(comments + likes) / subscribers
~3x per week
2.8 posts/week
70/100
Consistent (~3.0d avg)
| Newsletter | Subscribers | Weekly Growth | Price | Platform |
|---|---|---|---|---|
| Civil Discourse with Joyce Vance | 604K | -0.1% | $6/mo | substack |
| Adam Kinzinger | 474K | +0.1% | $9/mo | substack |
| Thinking about... | 453K | N/A | $7.5/mo | substack |
| Talking Feds Substack | 212K | N/A | $7/mo | substack |
| Month | Subscribers | Est. Revenue | Change |
|---|---|---|---|
| Feb 2026 | 208K | $123,821.88 | — |
| Mar 2026 | 210K | $125,015.52 | ~0% |
| Apr 2026 | 208K | $123,821.88 | ~0% |
| May 2026 | 209K | $124,418.7 | ~0% |
| Jun 2026 | 210K | $125,015.52 | ~0% |
| Jul 2026 | 210K |
Platform Dependency
Hosted on substack subdomain
Publishing Consistency
Regular publishing schedule
Key Person
Single-author publication — key-person dependency
Audience Concentration
Some posts outperform significantly
Subscriber threshold
210K subscribers — above the 6K category median for first paid tier
Has paid tier
Active paid subscription offering
Peer monetization
100% of 53 similar-size peers in Politics have paid tiers
Pricing position
$7/mo vs $6/mo category median (1290 newsletters)
| Date | Monthly | Annual |
|---|---|---|
| Jul 2026 | $7 | $80 |
| 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.
Score based on available components only.
| Component | Score | Weight |
|---|---|---|
| Engagement Rate | 88/100 | 30% |
| Paid Subscriber Ratio | 100/100 | 25% |
| Publishing Consistency | 73/100 | 10% |
| Act for America |
| 191K |
| N/A |
| $5/mo |
| substack |
| $125,015.52 |
| ~0% |
Revenue Model
Active paid subscription tier