The Substackerati

Did a newsletter company create a more equitable media system—or replicate the flaws of the old one?

“Publications are only paying me three hundred dollars per piece, so I thought, What would happen if I took some of them and grew my audience?” Her efforts were getting noticed; eventually, Substack gave her a $3,000 stipend and a $25,000 advance (in the latter arrangement, Substack takes 50 percent of her subscription fees until the advance is paid off, but if she doesn’t reach that number, Harvin won’t owe Substack the rest)...