Conspiracy theories emerge from the complicated and low-quality ecosystem that is required to monetize free content with ads. If people pay you a subscription, you don’t need to incentivize scammers to produce content that enrages people so they can see a viagra ad. Instead you can do what Apple and Netflix do: pay content creators for quality content, and compete on quality.

Is there a market for $5/month all-you-can-eat documentaries about lizards who secretly run the world and lay their eggs in vaccines? Sure, but it won’t be a $300B company capable of destabilizing entire countries.