The "few websites" model was (is?) pretty common for SEOs/etc who had a portfolio of sites which were typically monetized via either ads or affiliate commissions, with minimal defensibility, but run as a portfolio because none individually was perceived as being re-investable.
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I have a few friends that are doing this model. They actually have financial backing from a few PE funds and family offices. cc
@pincock -
(Not sure if you're familiar with https://rhodiumweekend.com/ but that's where these people hang out)
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Have seen this a bit too, want to read more about people who do so
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