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> Maybe sites like Stack Overflow have 0 variable cost but this is more of an exception.

Interesting, how so? I find it difficult to imagine any media site that, once they produced a piece of content, has to pay any other substantial cost as they get more views.

In other words: doubling up page views for the Guardian does not mean doubling up the costs of producing the articles. That's what I mean by "substantially zero variable cost".




Not doubling costs but delivery photo and video does increase costs significantly. Something Stack Overflow doesn't have to do.




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