Remember those years when people running paid groups were always mocked—"scam tactics" has become a consensus. If someone predicted that Michael Burry would do this, probably not many would believe it.

This guy is no ordinary figure. The real-life character from the movie "The Big Short" became a legend by betting against the subprime mortgage crisis. His persona is very hardcore: dislikes media, refuses to appear on variety shows, looks down on Wall Street's emotional trading. He never monetizes through hype, nor has he ever flattered retail investors.

By 2025, this guy made another move—criticizing Nvidia and the entire AI wave, essentially calling it Internet bubble 2.0, then making a high-profile short position. Everyone thought he would just comment and move on.

Unexpectedly, on November 24, Michael Burry announced on X that he launched a paid Substack channel called "Cassandra Unchained." The annual fee is $379. Now, it has over 60,000 subscribers, generating more than $22.74 million.

This move caused quite an interesting market reaction. Around the same time, Donald Trump Jr., Trump's eldest son, also didn't hold back, launching a high-end membership club called "Executive Branch." The membership fee alone is $500,000.

From WeChat crypto groups, to exchange communities, to Wall Street elites and White House insiders, the essence of this game has never changed—where there is information asymmetry, someone is willing to pay.

This actually reflects an interesting paradox: why do many top investors, opinion leaders, and even celebrities who have achieved financial freedom still go through the trouble of running paid channels?

The answer might be simpler than you think. Not because they lack money, but because they lack cash flow. Holding assets and having a steady monthly cash inflow are two different things. Especially for investors, a regular, predictable income stream is more attractive than holding uncertain asset positions. Plus, this mode can also boost personal brand influence—truly a win-win situation.