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gwern comments on Preventing discussion from being watered down by an "endless September" user influx. - Less Wrong Discussion
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Transcripts are fairly expensive; patio11 pays for transcripts to be made for his podcasts (a big factor in why those submissions do well on Hacker News), but IIRC the quoted figure is north of $100. So you would pay... but would you pay enough?
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College students would be flaky and unreliable, and you'd want at least 2 for error-checking. You get what you pay for.