BlockBeats News, August 14th. Michael Burry, the investor famous for "The Big Short," has recently attracted attention for his paid investment newsletter business. His Substack newsletter "Cassandra Unchained" has attracted over 300,000 subscribers after being launched for 231 days. Calculated based on an annual fee of $379, the theoretical annual revenue is approximately $113.7 million.

However, this revenue is the theoretical maximum and does not take into account factors such as the percentage of free subscribers and platform fees. Burry has not publicly disclosed the actual number of paid subscribers.

Burry launched the newsletter in November 2025, primarily to share investment insights, portfolio changes, and market analysis. Currently, newsletter subscribers come from 212 countries worldwide, with approximately 52% located outside the United States. Meanwhile, Burry has continued to bet on the AI bubble risk this year, publicly shorting stocks related to AI and semiconductors such as NVIDIA, Micron Technology, and Applied Materials. However, the market has not developed as he expected. Micron's stock price surged by about 697% at one point this year, while NVIDIA and Applied Materials also saw significant increases, putting pressure on his short positions.

While shorting AI, Burry has also invested in some value stocks, including PayPal, Lululemon, Alibaba, and JD.com, indicating that as the AI hype cools down, funds may flow back to traditional value assets.

Currently, Burry's investment trading performance is under pressure, but the subscription revenue brought by his personal brand may become the most certain source of cash flow for him this year.