I was with you all the way to the end...subscriptions will always have to be higher than ad revenue to the publisher. Take facebook as an example. In 4Q2018 th

I was with you all the way to the end...subscriptions will always have to be higher than ad revenue to the publisher. Take facebook as an example. In 4Q2018 their average revenue per user in the US was just shy of $35. If no advertisers paid anything to FB and instead lowered the cost of their products accordingly then yes Mike saves some money...BUT, if he wants to continue to use facebook...facebook will have to charge Mike at least as much as what they were getting from the Alices, likely much more. There is no way Nick can provide a newspaper without either advertising or subscription fees. It's the basic rub of the modern internet, at least content providers and as of now advertising for a "free" service is the dominant approach.