The Texas Tribune launched last year with deep pockets and Texas-sized ambitions. In the July/August issue of CJR, Jake Batsell, who spent nine months reporting on the startup, says the Trib has definitely shaken up the politics and press establishment in Austin, but its long-term success is anything but certain. Below, chairman John Thornton and editor Evan Smith talk about the Tribune—what it’s doing and where it’s going.