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Burry revealed in a recent post that he's passed the milestone of 300,000 subscribers (1).

"Less than eight months into this new and intense adventure that is Cassandra Unchained, I am stunned and humbled by the unique, thoroughly enjoyable community of awesome people we have all created at CU," Burry wrote.

According to StockTwits, the Substack quickly gained more than 60,000 subscribers, as Burry posted his "first AI-focused essays and intensified his criticism of Nvidia Corp. over stock-based compensation, hyperscaler spending and accounting practices (3)."

He has made trade disclosures including bearish positions on Nvidia, Palantir, Applied Materials, the iShares Semiconductor ETF and Tesla, StockTwits reported.

Subscriptions to Cassandra Unchained go for a hefty $39 a month, $379 per year, but it also has a free tier, and subscriber numbers include those who read for free.

Although Substack does not disclose numbers of paid subscribers, Cassandra Unchained does have a purple Substack "Bestseller badge (4)," which indicates tens of thousands of paid subscribers. It's also ranked No. 2 in Substack's finance category (5).

StockTwits noted that, theoretically, if all 300,000 of Burry's subscribers were paid subscribers, it would mean $113.7 million annually, not including any fees Substack may charge.

In its report on Burry's milestone, The Street (6) was more conservative, noting that the true number of subscribers was 'unknowable from the outside" and "a fraction of the fantasy."

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The Street described the $379 annual subscription as buying "a front-row seat to a brilliant, deeply bearish mind" but cautioned that it did not buy certainty.

"Burry has been early for years, flat wrong for stretches, and vindicated just often enough to keep everyone paying attention. Subscribing is closer to buying a season ticket than buying an edge," the report from The Street says.

Of course, it's possible that the portion of Burry's 300,000-ish subscribers who are paying for the upgraded subscription are doing so purely for entertainment, and not for advice on their portfolios — but it's unlikely.

It's also possible that a portion of those paid subscribers aren't just DIY investors, but actually financial influencers, or even would-be gurus, themselves.

Perhaps they're paying the subscription fee to turn around and make their own paid commentary about Burry's paid commentary. And then other "finfluencers" are paying for that content, and repackaging it as their own, passing it down the line.