I'm Drew Breunig and I obsess about technology, media, language, and culture. I live in New York, studied anthropology, and work at PlaceIQ.

The Daily was Losing $30 Million a Year 

And assuming 100,000 subscribers at $50 a year (both low estimates) it cost at least $35 million to run the iPad magazine.

What a mess.

To contrast: Prismatic has received only $1.2 million in funding.