The Warning with Steve Schmidt
Investor Due Diligence Report
by Steve Schmidt
substackPolitics
Exposes the threats to American democracy – and the people behind them.
Investor Due Diligence Report
by Steve Schmidt
Exposes the threats to American democracy – and the people behind them.
181K
10.8K paid
+0.3%
+0.6%
net growth
Pricing
$8/mo
$80/yr annual option
$68K
10.8K paid subs
$68K/mo – $68K/mo(±0%)
41.1
565.3
0.34%
(comments + likes) / subscribers
Daily
15.9 posts/week
88/100
Very Consistent (~1.1d avg)
| Newsletter | Subscribers | Weekly Growth | Price | Platform |
|---|---|---|---|---|
| Quick Update | 2M | N/A | Free | substack |
| State of the Day | 487K | -0.3% | $10/mo | substack |
| Silver Bulletin | 339K | +1.0% | $15/mo | substack |
| Ryan Grim | 302K | N/A | $5/mo | substack |
| Month | Subscribers | Est. Revenue | Change |
|---|---|---|---|
| Feb 2026 | 177K | $77,025.96 | — |
| Mar 2026 | 178K | $77,464.8 | ~0% |
| Apr 2026 | 178.5K | $77,681.04 | ~0% |
| May 2026 | 178K | $77,464.8 | ~0% |
| Jun 2026 | 179K | $77,897.28 | ~0% |
| Jul 2026 | 180K |
Platform Dependency
Hosted on substack subdomain
Publishing Consistency
Regular publishing schedule
Key Person
Single-author publication — key-person dependency
Audience Concentration
Hit-driven — top post engagement 3x+ above average
Subscriber threshold
181K subscribers — above the 7K category median for first paid tier
Has paid tier
Active paid subscription offering
Peer monetization
95% of 58 similar-size peers in Politics have paid tiers
Pricing position
$8/mo vs $6.25/mo category median (681 newsletters)
| Date | Monthly | Annual |
|---|---|---|
| Mar 2026 | $8 | $80 |
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.
| Component | Score | Weight |
|---|---|---|
| Engagement Rate | 91/100 | 30% |
| Paid Subscriber Ratio | 100/100 | 25% |
| Growth Consistency | 0/100 | 15% |
| Publishing Consistency | 91/100 | 10% |
| 188K |
| +0.3% |
| $8/mo |
| substack |
| $78,336.12 |
| ~0% |
| Aug 2026 | 180K | $78,336.12 | ~0% |
| Sep 2026 | 180K | $78,336.12 | ~0% |
| Oct 2026 | 180.5K | $78,552.36 | ~0% |
Revenue Model
Active paid subscription tier