[Ev] Williams describes Medium’s key benefit as rescuing writers from the “terrible distraction” of formatting chores. But consider the cost. Though he’s baiting the hook with design, he’s also asking you, the writer, to let him control how you offer your work to readers. Meaning, to get the full benefit of Medium’s design, you have to let your story live on Medium, send all your readers to Medium, have your work permanently entangled with other stories on Medium, and so on—a significant concession.
Medium pays for only a small fraction of its stories. The rest are submitted—for free—by writers like you. After a long time being elusive about its business model, Medium revealed that it plans to make money by—surprise!—selling advertising. This means displaying ads, but also collecting and selling data about readers and writers. So Medium will extract revenue from every story, whether it paid for that story or not. (By the way, will that revenue be shared with writers? Um, no.)
This is something that's bugged me about lots of platforms (tumblr, instagram, facebook) over the years , including Medium.
If you've ever written a piece on Medium (and who hasn't), I'd consider reading this excellent piece by Matthew Butterick.