Silver Bulletin
Investor Due Diligence Report
by Nate Silver
substackPolitics
Essays and analysis about elections, media, sports, poker, and all the other things I care about.
Investor Due Diligence Report
by Nate Silver
Essays and analysis about elections, media, sports, poker, and all the other things I care about.
313K
13.3K paid
~0%
Subscriber count is a platform estimate
-28.1%
net churn
Pricing
$15/mo
$95/yr annual option
$120K
13.3K paid subs
$120K/mo – $120K/mo(±0%)
57.3
262.3
0.10%
(comments + likes) / subscribers
~2x per week
2.1 posts/week
60/100
Consistent (~3.9d avg)
| Newsletter | Subscribers | Weekly Growth | Price | Platform |
|---|---|---|---|---|
| Margaret Anna Alice Through the Looking Glass | 44K | N/A | $6/mo | substack |
| Grace Blakeley | 40K | N/A | $5/mo | substack |
| Democracy Docket | 39K | N/A | Free | substack |
| Special Competitive Studies Project | 36K | N/A | Free | substack |
| Month | Subscribers | Est. Revenue | Change |
|---|---|---|---|
| Feb 2026 | 323K | $199,737.79 | — |
| Mar 2026 | 322K | $199,123.24 | ~0% |
| Apr 2026 | 311K | $192,318 | -3.4% |
| May 2026 | 311K | $192,318 | ~0% |
| Jun 2026 | 313K | $193,556.14 | ~0% |
Platform Dependency
Operates on custom domain (www.natesilver.net)
Publishing Consistency
Variable publishing frequency
Key Person
Single-author publication — key-person dependency
Audience Concentration
Hit-driven — top post engagement 3x+ above average
Subscriber threshold
313K subscribers — above the 6K category median for first paid tier
Has paid tier
Active paid subscription offering
Peer monetization
100% of 37 similar-size peers in Politics have paid tiers
Pricing position
$15/mo vs $6/mo category median (1262 newsletters)
| Date | Monthly | Annual |
|---|---|---|
| Jun 2026 | $15 | $95 |
| Mar 2026 | $12 | $95 |
| Mar 2026 | $15 | $95 |
| Jan 2026 | $12 | $95 |
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 | 76/100 | 30% |
| Paid Subscriber Ratio | 100/100 | 25% |
| Publishing Consistency | 46/100 | 10% |
| Lucian Truscott Newsletter | 33K | N/A | $5/mo | substack |
Revenue Model
Active paid subscription tier