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The point, of course, is that even badly mismanaged those small publishers were making it the prior 10 years or so--and are unable to do so now. The same is true of blogs. Some of the blogs that are closing shop have been running for 10 or more years. Some author blogs were never monetized and in this climate, it's 1. too late to do so and 2. the time commitment makes it almost impossible to do a blog UNLESS it is monetized (see Rachel Aaron post on the subject).
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