I agree. The margins on this are pretty terrible, and it's not a long term scalable model, but I think it's an easy way to get a foothold in the market. Here'

I agree. The margins on this are pretty terrible, and it's not a long term scalable model, but I think it's an easy way to get a foothold in the market. Here's my thinking (please feel free to tear my logic apart): (1a) The very small newsletters will be much more likely to signup. (1b)The bootstrapped startups would be very interested in relatively inexpensive ways to target (other than Adwords). I think 1A has been semi validated. (2) Success with small newsletters will help show larger newsletters than this model can work. Will probably transition from very small newsletters to medium, to large. (3) Some bootstrapped startups will grow, get funding and continue to use us. There are some jumps in this logic, and it would need validation.