But every now and then some smartass in a boardroom will come up with the idea to test that theory.

Since you're backed by ad money, you can undercut the subscription price of your competitors. Maybe it makes up the difference, maybe it works better and you force the competition to switch to ads or go out of business.

Maybe it fails, but it's certainly not guaranteed.

> Websites that don't disable ads for subscribers will get fewer subscribers.

How does that differ from today?