400mn is actually a fairly small valuation for something the size of Medium and they are probably still unprofitable (as a company) based on public sources. As to earnings in my brief time here Ive figured the only stat that matters is “member reading time” and how exclusive you are to those members’ time. i.e. I had a story that was read only by 2 members, one of them I know was a friend who has a subscription but never gets on here so I got a $ from her reading it. While other stories witu much longer reading times had lesser earnings. so the math is really fairly simple… not ideal but simple.