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Lenny Rachitsky generates more than $500,000 in annual revenue with his paid newsletter on Substack.
But deep in this thread from 2020 he writes…
After the Substack fees (10%), Stripe fees (2-4%), and taxes, you’re lucky to see half of what you think you will make (1,000 subs at $10 is closer to $5,000/month after fees and taxes).
Keep that in mind when you see revenue numbers for online businesses, including the numbers I share in my newsletter 🧐
As the saying goes: it’s not how much money you make that counts, but how much you keep.