Hamish McKenzie crunches some numbers for PandoDaily:

So, editorial costs plus design and development costs for year one: $342,000. If Arment manages to get to 20,000 subscribers, that would give him $477,600 a year. He has to give 30 percent of that to Apple, so that takes his net to $334,320. That leaves him about even. So, not a huge money winner, but certainly an encouraging first-year effort. That makes it a good lifestyle business, but certainly not the next Huffington Post.

And gets it probably wrong, but I like those predictions and formulas, without turning into a Nate Silver, but I love to forecast and see what’s possible.