Jay is playing in a field which is already over-saturated.
20 years ago, when he and a few others were the only guy in town, it was a different ball game.
But if you do a search under "internet marketing e-zine" you'll realize that there are thousands... possibly more than in any other niche.
Or maybe it's just that he's lazy, and an extra 10K a month wasn't worth the pain in the butt of writing the darn thing.
I can tell you from personal experience that writing an e-zine can be a VERY profitable venture.
-Adam.
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