Defector Media launched a year ago as a digital publishing experiment: What if the former staff of Deadspin built and owned their own site, fueled entirely by subscriptions? Now it looks like we have an answer: It’s working, really well. Editor in chief Tom Ley walks Recode’s Peter Kafka through Defector’s financials and argues that a site that runs on readers’ dollars instead of advertisers is more fun to work at and to read. Featuring: Tom Ley (@ToLey88) Co-Founder and Editor-In-Chief of Defector Media Host: Peter Kafka (@pkafka), Senior Editor at Recode More to explore: Subscribe for free to Recode Media, Peter Kafka, one of the media industry's most acclaimed reporters, talks to business titans, journalists, comedians, and more to get their take on today's media landscape. About Recode by Vox: Recode by Vox helps you understand how tech is changing the world — and changing us. Learn more about your ad choices. Visit podcastchoices.com/adchoices