What makes it tougher is that unlike newsletters, which collect subscription money in advance and then pay the printer's bills over the course of a year, Vulcan pays for printing upfront and then collects from advertisers and distributors.
Firms that spend money to publicly advance the field may be priced out by firms continuing to use the inefficient methods or copying the improvements and undercutting the price.
With customers taking equity, putting up research money and making advance orders, ASML will be surer of having a market for products that take a lot of time and money to create.