All of this does, of course, cost money and both Nelson and Harvey acknowledge that Minerva's initial students will cost more than they pay (particularly once potential scholarships are factored in). Neither would identify a break-even point, except for Nelson saying that Minerva would be profitable if it got to the point of having as many students as his alma matter, The University of Pennsylvania (approx. 25,000).
Benchmark's Harvey said that Minerva would save money by eschewing physical infrastructure and research-focused professors. Not quite clear on the latter point, given that such folks generally bring in more money than they cost (via matching grants), but his broader point is that building Minerva is a lot like building a luxury brand.
"Luxury brands are about elite access. In consumer goods, that's elite cost. In education, it's elite criteria for admission. Minerva is maintaining those high standards, but not artificially limiting the number of people who can meet it.... This really may be redefining education."