Since people pay him money, he doesn’t need to run ads to “monetize” his customers’ attention. He doesn’t have to do all the things that typically ruin the experience for people—like clogging pages with distracting banners or breaking them into smaller chunks so users have to click around a lot. “It’s like a moral hazard,” he says. “Once you’re not just charging people straight up, you get into all these murky ethical things. You have to sell their eyeballs.”