Category Archives: Digital Revolution

The Unsinkable Popularity of Blockchain Technology

This is the fourth article in the Bitcoin series published by Impakter, and the third I wrote. Articles on cryptocurrencies are welcome, if you have something to say and you’re an expert, please contact me. 

Here is the opening:

The 2018 Bitcoin sell off has been so violent so far – from a high of $20,000 in December 2017 to below $6000, and now hovering around $9500 – that it is a wonder the blockchain technology underpinning Bitcoin has not suffered a setback.

On the contrary. The New York Times recently reported a surge in interest in Bitcoin and blockchain technology among millennials, and especially among students in major universities.

Despite Professor Nouriel Roubini’s outburst on CNBC (he predicted Bitcoin’s value would fall to zero) and the warning by the European Central Bank’s President Mario Draghi that Bitcoin and other cryptocurrencies are “very risky assets”, highly respectable people in banking and academia circles continue to be interested in virtual currencies. Many still believe digital currencies can replace legacy/fiat currencies, thanks to the blockchain technology that underpins them. For example, Stanford University recently held a successful three-day conference exploring the architecture and security of blockchain software.

The star is NYU Stern finance professor David Yermack who was probably the first to launch a course on Bitcoin and digital currencies back in 2014 and among the first to be called by the Bank for International Settlements (BIS) in Basel for consultations. He no doubt helped to shape the current BIS’ view on digital money, arguing for a strong case for cryptocurrency intervention – recently echoed (February 12) by the three major European regulators who warned EU residents against the risks of crypto investment.

Read the rest on Impakter, click here.
Advertisements

Comments Off on The Unsinkable Popularity of Blockchain Technology

Filed under Digital Revolution, Tech

Bitcoin World: What Next?

I’m starting a series on cryptocurrencies, this is the first article, just published on Impakter:

ICOS: THE RISKS AND HOW TO ADDRESS THEM

 



Recent good news got lost in the midst of a flurry of bad news that shook the Bitcoin world at the end of January, causing a meltdown, with Bitcoin losing two-thirds of its value since hitting a peak of $20,000 in mid-December. Professor Roubini told Bloomberg that Bitcoin is “much worse than the Tulip mania”, that it’s the “mother of all bubbles”. At the time of writing, Bitcoin is still crashing, with no end in sight, though it is still significantly higher than the $900 value recorded a year ago (January 2017).

Among the avalanche of chilling events: the $530 million hack of Coincheck, a Japanese cryptocurrency exchange followed by a raid on the exchange by the Japanese authorities to check whether they had enough funds to repay customers; the Facebook ban on cryptocurrency ads; India’s Finance Minister declaration that cryptocurrencies would not be recognized as legal tender; the subpoena U.S. regulators sent to two of the world’s biggest cryptocurrency players, Bitfinex exchange and Tether, arousing suspicions of price manipulation; the announcement by major American banks (JP Morgan Chase, Bank of America and Citigroup) followed by a UK bank (Lloyds) that, starting in February, they would no longer allow their clients to purchase Bitcoin with credit cards; South Korea Customs Service’s disclosure of illegal Forex tradings of some $600 million worth of cryptocurrencies; North Korea accused of hacking cryptocurrencies and stealing billions of wons;  the finding by a leading cyber security firm that hackers make on average $100 million a year stealing from “miners”.

And yet amongst the wreckage there was some optimistic news. One was the declaration on 31 January from the South Korea Finance Minister that there was no plan to outlaw digital coin trading, which countered an earlier ban announced by the Minister of Justice in September last year.

The other came from the South China Morning Post that announced on January 31 that the Hong Kong authorities would not ban cryptocurrencies but launch in March “a campaign to educate the public” highlighting that “cryptocurrencies have fluctuated in price, are not backed by any physical commodity or the issuer, and are subjected to hacking risks.” Leo Weese, chairman of the Hong Kong Bitcoin Association, is strongly supportive: “We should know the difference between what makes a good ICO [and what doesn’t]” he said, “and how we differentiate between scams and legitimate projects.”

He has good reason to feel this way: ICOs (Initial Coin Offerings) are the vital lymph of cryptocurrency exchanges and for them to function well, there needs to be trust in their legitimacy.

Read the rest on Impakter, click here.

Comments Off on Bitcoin World: What Next?

Filed under Digital Revolution, Economics, politics

Platform Capitalism: The New Economy of the Future?

My latest article, just published on Impakter Magazine:

BOOK REVIEW: PLATFORM CAPITALISM BY NICK SRNICEK, PUBLISHED BY POLITY (DECEMBER 2016) 120 PAGES

Platform Capitalism

Platform capitalism is the latest buzzword, replacing what used to be called “eco-systems”. It is also sometimes confused with the “gig economy” or the “sharing economy”, enthusiastically embraced by politicians as the answer to the Great Recession.

Uber, AirBnB, TaskRabbit and the like are viewed as saviors, providing jobs to those who wouldn’t have any or rounding off the pay of those who make too little. Their apps create a digital space where service providers and users meet; the needs of the latter are satisfied by the former while the app owners take a fair percentage off every transaction.

THE BLESSED AGE OF POST-CAPITALISM?

Technology enthusiasts see platform capitalism, created by the digital revolution, as a benign form of capitalism ushering in a new blessed age where people come into their own, workers find instant demand for their services and consumers get what they want at the tap of a button on their smartphone.

Before we go on, let’s get one piece of semantics out of the way: Platform capitalism should not be confused with the “sharing economy” (insofar as it exists at all). Platform capitalism has nothing to do with “sharing” in the sense of an exchange of goods or services at no cost to those engaged in the exchange. Platform capitalism is capitalism pure and simple: You pay for the goods and services you get, nothing is free – even if transaction costs tend to be lower online. Lower but still substantial: Uber, for example, creams off 25 percent of every taxi ride. The difference is that it’s not done through an exchange of cash in the real world, it is done digitally.

And, according to the proponents of platform capitalism, there is an added advantage: The middleman is cut out, costs to users are thus automatically reduced. This is the capitalism of the future, they enthuse. Thanks to the digital revolution, we are into the age of “post-capitalism”.

Not true, argue the critics: The basic exploitative nature of capitalism has not changed. Middlemen are replaced by new gatekeepers. “Many of the old middlemen and retailers disappear but only to be replaced by much more powerful gatekeepers,” complained one disgruntled German blogger.

Is platform capitalism heralding a bright new future or is it just the latest form of exploitative capitalism?

Read the rest on Impakter, click here.

Comments Off on Platform Capitalism: The New Economy of the Future?

Filed under Book review, Digital Revolution, Economics, non-fiction, politics, Startups, Tech

SILICON VALLEY: WHAT IT TAKES TO DO STARTUPS – Book Review

Here’s another one of my articles published today on Impakter:



SILICON VALLEY: WHAT IT TAKES TO DO STARTUPS

Book Review: Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley by Antonio Garcìa Martinez (HarperCollins, 2016, 528 pages)

Chaos Monkeys Book Cover

Silicon Valley continues to be hot news in the age of Trump and anti-globalization and it should come as no surprise that a clever book about it by someone in the know, loaded with revelatory insights on how it really works, was going to be a sure-fire hit. And that is exactly what happened when Antonio García Martinez’s half memoir-half prescriptive tech guidebook came out last year on 28 June 2016, becoming an instant “New York Times bestseller”. Considered an “irreverent exposé of life inside the tech bubble”, all the major book reviewers rushed in with praise, from the New York Times’ Jonathan E. Knee (“an irresistible and indispensable 360-degree guide to the new technology establishment”) to Bloomberg’s Ellen Huet (“dives into the unburnished, day-to-day realities: the frantic pivots, the enthusiastic ass-kissing, the excruciating internal politics”).

In short, in just six months, “Chaos Monkeys” has become the most popular and widely read book about Silicon Valley. I was curious to find out whether it merited its sudden glory. I uploaded it to my Kindle (disclosure: living far from bookstores, I am a fan of e-books) and I spent a couple of pleasant days enjoying the read. And I soon discovered that the best passages, literally pearls in the text, had been highlighted hundreds of time by enthusiastic fans. In fact, Amazon in its “about the book” section informs you that (at the time of my reading) 3,769 passages had been highlighted 122,000 times (ah, the joys of Big Data).

It is a clever book with a clever title, and a great read. In case you’re wondering about the title, it comes from the name given to the software procedure used to test the stability and resilience of online services/websites – and this neatly expresses the main message of the book: That tech entrepreneurs are society’s chaos monkeys, out to disrupt the way we live, from photo-sharing (Instagram), dating (Tinder) and movie viewing (Netflix) to transport (Uber), lodging (AirBnB) and space travel (SpaceX).

Unquestionably, the author’s persona was as much part of the excitement as his bracing writing style. Described as an “industry provocateur” on his Amazon book description page, he has lived up to his reputation and become something of an industry guru: today, whenever big news or scandals roil Silicon Valley, journalists rush to ask him his opinion.

 

Garcìa Martinez started his working life as a strategist for Goldman Sachs, survived three years and surprised everyone by abandoning New York for the West Coast. After learning the ropes at an IT advertising outfit called Adchemy, he launched his own start-up AdGrok with a couple of engineering pals (called “the boys” in his book). Ten months later, after raising some venture capital and before even making AdGrok operational, he sold it to Twitter for $5 million. However, it was not an unmitigated success; his team broke up, “the boys” went to work for Twitter to develop AdGrok while he accepted a more lucrative position at Facebook as product manager. Tasked with leveraging Facebook’s user data to make its advertising more effective and fix its monetization problem, he was outcompeted by a colleague and fired – the circumstances of his firing make for fascinating reading.

The description of what Facebook is like, what happened there and why he eventually left and landed an advisory position at Twitter is certainly one of the more interesting parts of the book – anyone thinking of joining Facebook should read it very carefully, drawing lessons from it.

The rest on Impakter, to read it, click here.

Comments Off on SILICON VALLEY: WHAT IT TAKES TO DO STARTUPS – Book Review

Filed under Book review, Digital Revolution, Publishing, Startups, Tech, Uncategorized

To Self-Publish and Perish: Buried Under 3.4 Million E-Books

 I finally found where Amazon reveals a hidden (and juicy) statistic: the number of ebooks available in the Kindle Store. If you’re an Amazon Associate, you can easily find it too but to make it simple I took a screen shot of the page where it shows, this one dated August 16, 2014:

Look at what the red arrow points to: “Results from Amazon Kindle Store…3,376,174 results”. That’s how many ebooks are stocked in the Kindle Store as of now: 3.4 million.

And by the time I had finished writing this blog post (one hour later) that number had climbed to…3,376,186! It took one hour to add 12 books, one new title every five minutes.  In 24 hours, the number had climbed to 3,378,960, that’s 2786 more books – let’s say, 2,800 a day, that’s over one million books per year – and probably growing at an exponential rate that I cannot calculate for the moment; I haven’t got the data though Amazon does (I wonder whether they are as scared as I am).

You can bet that in 10 years time the number of titles in the Kindle Store could be anywhere between 20 and 40 million books.

This is as many books as Google is said to have scanned globally, drawing from all the world’s libraries (the latest reported figure dates to last year and was 33 million books).

Surprised? I’m not, not really. Internet guru Jaron Lanier, in his fascinating book “Who Owns the Future” suggests that we should eventually expect as many writers online as there are readers. If he’s right (and there’s not reason to believe him wrong), we still have some way to go. But it will surely happen, and probably sooner than you think.

It’s also very instructive to look at the list of titles provided using the filter “new and popular” (the one I used – but there are other filters too depending on what you’re looking for) and you’ll see that Daniel Silva‘s “The Heist” (the 14th book in the Allon series) comes on top: it was published on 15 July 2014 and already got over 1,200 customer reviews. Not unsuprisingly it is is ranked #51 in “paid Kindle” and #1 in several subcategories including mystery and suspense.

By the way, “The Heist” is published by one of the Big Five (Harper) and priced at an average $14 which is standard for traditionally published books. That price, high in relation to the average price for self-published books (which according to Smashwords is around $3.99), does not seem to have impeded its sales or ranking. This is not to say that traditional publishers can get away with any level of high prices – I would argue that a level beyond $14 is damaging and ensures that some excellent writers, like William T. Volmann, perhaps our times’ major “fabulist”, is not as widely read as he could be. His latest book, Last Stories and Other Stories, is priced at over $22, a price equivalent to the hardcover.   That places him well beyond the reach of the average e-book reader, in practice excluding him from any exposure in the Kindle Store. Don’t be surprised if his book is sitting at #42,967 Paid in Kindle Store in spite of the boost it has received in the mainstream media, most recently the New York Times (see here).

Indeed, if anything, books that are priced high and traditionally published seem to occupy the first ranks everywhere on Amazon. And I’m not referring to special cases like John Green’s best-selling “The Fault in our Stars” with over 29,000 customer reviews and a ranking in paid Kindle at #8 for books, although it is noteworthy that its ranking is not the same in the ebook market (it sits at # 3,810). Here I am looking at the Kindle Store only and what pops up in the ranks is often quite different from what emerges in printed books, and why it is so, is a story for another blog post.

In any case, whether looking at the printed or ebook markets, you have to look hard for self-published authors though, undeniably, they are there…Hugh Howey with over 2,000 reviews for his Dust (book 3 of the WOOL trilogy) is sitting at #815 in “paid in Kindle Store”; Bella Andre’s Kiss Me Like This at #642 (it came out in June 2014 and has over 170 reviews); J.A. Konrath’s Whiskey Sour at #1615 (it came out in February 2013 and has nearly 1,200 reviews); Barry Eisler‘s Graveyard of Memories at #5,136 (it came out in February 2014 and already has over 600 reviews) – but Eisler’s book is published by an Amazon imprint, Thomas and Mercer, and he cannot be thought of as a self-published author stricto sensu, though he often sides with indies and famously walked away from a big publisher’s contract a few years ago.

The conclusion? Self-published authors, even the most successful ones, aren’t doing badly of course, but they are certainly not doing as well in terms of exposure as traditionally published authors. Sometimes, a traditionally published author who finds herself retrograded to the “midlist”, with the publisher giving no signs of wishing to renew the contract, may have no choice but to self-publish to survive. This is what Eileen Goudge did and so elegantly explained in a blog post here on Jane Friedman‘s blog, enticingly titled “Self-publish or Perish” (hence the title for my own blog post here).

However, we should remember that if the midlist author’s economic “survival” is ensured, it is largely thanks to the 70% royalty Amazon pays, because it is certainly not remarkable in terms of exposure – I won’t go further in the details and give you yet another ranking, you can check for yourself if you’re curious (here).

Moreover, one must remember that all rankings are ephemeral, they change constantly, and one needs to be Amazon itself (or set up a 24 hour watch for months on end) to figure out which authors have “staying power” and which don’t. So all the rankings I’m quoting here are merely indicative.

Still, some insights can be gleaned. It is particularly interesting to check on the more successful self-published authors and see how they fare today. I checked at random the more famous ones such as Amanda Hocking or John Locke whose amazing success stories (selling “a million copies” in a matter of months) have been instrumental in launching the self-publishing craze.

Well, they are not doing as well today as you might expect. Amanda Hocking has two books going currently for free and her best selling book, My Blood Approves (now traditionally published by St Martin’s) is ranked #34,251 Paid in Kindle Store. John Locke’s Promise You Won’t Tell, with close to 1,200 reviews was going free the last time I checked and his best selling non-free book Casting Call (actually also the most recent, published in February 2014) is priced at $2.99 and ranked #11,195 in paid in Kindle Store. In other words, it’s doing reasonably well but breaking no records.

Why are such famous self-published authors with millions of copies sold – I would say even “iconic” writers – following the free promotion strategy exactly as propounded by self-published author David Gaughran in his excellent guidebook Let’s Get Visible?

I’m sure you can come up with still more striking success stories, and please be sure to highlight them out in the comments, but my point is that the success doesn’t stay on…it waxes and wanes (which is natural) and then falls off a cliff, to use David Gaughran’s striking metaphor. Hence, the authors efforts to revive their books with free promotions. A tough life!

Now if life is tough for the more successful self-published authors, try and imagine what it’s like for the rest of us?

The reason why? Basically the tsunami of books that buries every single newcomer!

No doubt this is another compelling reason why you should follow David Gaughran’s advice. And don’t get discouraged, Amazon has just handed out a candy to self-published authors, making it possible for them for the first time ever to access to the “pre-order” functionality on its website (is this a side-effect of the Hachette-Amazon spat? Who knows…) Regardless of Amazon’s reasons for doing this, it is a big gift, because it means that,  just like a traditional publisher could do till now, you are able to promote your book on all the sites you navigate for 90 days prior to launching, while pre-orders accumulate on Amazon’s site: on the day of release, all these orders are filled at a single go, ensuring a boost to your book, launching it up Amazon’s rankings!

Because, as David Gaughran points out, in this environment awash with books, you cannot ever stop marketing your titles – and now you have another tool at your disposal to launch your next book…use it!

Comments Off on To Self-Publish and Perish: Buried Under 3.4 Million E-Books

Filed under Digital Revolution, Literature

Digital Revolution Act Two: TheTrue Nature of Amazon Revealed?

Fascinating report from Author Earnings (see here). In the traditional publishing world, the reaction to that report was rather negative (according to the UK Guardian), putting into question the methodology. But even taking into account all the limitations of this report, it still reveals a lot about about Amazon, keeping in mind that 120,000 books included in the report comprise approximately 50% of Amazon e-Book revenue and that Amazon’s own publishing ventures (five imprints) account for only 6% of the total, a surprisingly small share compared to 38% of the “Big Five” (legacy publishers):

 

OK, Indies account for 31 percent. Fascinating but at the same time frightening: remember, we are dealing here with JUST 120,000 titles (so, out of those, some 40,000 titles are indies) But this is out of a total of how many books in the Kindle Store, 3 million? 4 million? I’d love to know.

Assuming it’s somewhere between 3 and 4 million, that means less than 3% float to the surface and get bought, perhaps even as little as 2%.

The other frightening aspect of this (otherwise brilliant) analysis is the focus on rankings. It really confirms that there are no quality gatekeepers on Amazon, number of sales rule the day! Sales beget sales, historical sales keep a book floating for several weeks, and when sales dip for too long, the book sinks out of sight.

Sales numbers decide whether a book shows up or not in any reader’s searches.

I perfectly understand the logic but I deeply regret it.

It means that numbers trump quality.

Readers navigating Amazon will keep seeing the same books over and over again. If you’ve got a book that doesn’t hit the #100 rank, there’s no hope for you. None whatsoever. Because it means you have no Internet presence, not enough fans to buy your books together at a given point in time so that the ranking is boosted up. Authors with fans acquired in a previous existence as a traditionally published “mid-list author” have an obvious head start in this rankings game, no question about it, and that head start is decisive.

Good for them, but if you’re a newbie, never published before by a trad publisher, beware!

If all this notwithstanding, you do decide to jump into self-publishing, then the two genres that you should write in to have any hope of success, according to this report, are romance and science fiction/fantasy – but especially romance, look at this amazing graph:

Yes, on Amazon, the “Big Five” only seem to do well in thrillers and non-fiction. Thrillers also happens to be the area where Amazon imprints do best. However, for non-fiction, children’s and literary fiction, Amazon imprints are no match to the Big Five, they literally disappear…

Broadly speaking, literary fiction and children’s fiction don’t make the cut on Amazon, it would seem that both kids and persons who like literary reads need printed books from legacy publishers to be happy (I can’t say I’m surprised – that makes sense; ebooks are only good for quick reads when traveling or waiting at the dentist’s).

Of course, all this data needs to be taken with a grain of salt (we know nothing of the rest of what’s on Amazon – from where exactly the other half of Amazon earning stems from, and of course, Amazon won’t tell).

This puts the battle between Hachette and Amazon in perspective, doesn’t it? Some of Hachette authors are surely hurt but it is likely that many are NOT suffering all that much because the majority of their books are not sold in the Kindle Store…

Still, I am shocked that the whole analysis hinges on only 120,000 titles…Your views?

Comments Off on Digital Revolution Act Two: TheTrue Nature of Amazon Revealed?

Filed under Digital Revolution

Digital Revolution Act Two, Amazon vs. Hachette: What Future for Indies ?

The on-going Amazon-Hachette war that started in April is viewed by many as a paradigm shift. The digital revolution is not over yet and the ground is moving, major actors are re-aligning themselves. Whether Hachette or Amazon wins or loses and with what results for authors, particularly for self-published authors, remains to be seen. 

 

Bob Rector
In short, Amazon is shaking up the publishing industry and a lot of people don’t like it. I blogged about this last week, (see here), and got a remarkable comment from Bob Rector, who’s not only a talented novelist (if you haven’t read Unthinkable Consequences yet, you should) but also a successful playwright (Letters from the Front, an award-winning play that toured the world for 15 years) and a veteran film director who first became famous with “The Now Explosion“, historically the first experiment in music video.
He has a uniquely upbeat take on the changes happening to the publishing industry, no doubt because of his long experience, and I wanted to share it with you. This is what he wrote (I love his uplifting conclusion and I added the highlights): 
Claude, your blog post “The Author-Reader Amazon Revolution:Mirage or Reality?” is a very informative and sobering article that once again leaves my head spinning about the book market today. But also conjures up some memories along similar lines.
A little less than 40 years ago I jumped through these same kinds of hoops but in a different medium: film. I was part of a small production company that decided to make a low-budget feature film for theatrical distribution. The timing was right because several G-rated low-budget ‘outdoor-adventure’ films had done very well, chief among them was Grizzly Adams. The attraction to this genre for the filmmaker was that Mother Nature provided all the sets and most of the players (wildlife) for free. All you had to do was get the cast and crew to a really spectacular location and tell a reasonably entertaining story about a hero single-handedly fighting man’s abuse of nature.

I was chosen to write, direct, and edit for the simple reason that I had more experience than anyone else involved, plus I was still riding on my fame from The Now Explosion. The film was titled Nature’s Way but before its release was changed to Don’t Change My World.

We made the film for next to nothing, just like today’s indie authors produce a book. In its initial screenings audiences responded very positively but to go into wide release, we ran into the same obstacles that indie writer’s face. We weren’t MGM or Universal or 20th Century Fox and they owned the game.
The major studios had long-established relationships with movie theaters around the world, as well as marketing and distribution operations that ran like the proverbial Swiss watch. On the other hand, we were, in effect, knocking on the door of each individual theater. They didn’t want to deal with someone who only had one film to peddle and no marketing machinery behind them. We eventually did sign with a small independent distributor who managed to get our film released nationally but playing at only one or two markets at a time, so the money generated trickled in and seldom covered expenses. Plus the theaters, since they were dealing with a small fry, slow paid, and sometimes no paid, us – something they didn’t dare do with the majors. When we protested they simply said, “So sue us.”
The sad fact of life was that the audiences who saw the film loved it, but getting it in front of an audience was a constant uphill battle that cost more than we could possibly make, especially since much of the time we never saw the money that came into the box office. By the time the theater took its cut (much more severe than Amazon’s take) and the distributor took his cut (always with extra expenses added) and the advertising agencies took their cut, nothing was left (sound familiar?).
The film finally generated significant revenue when it went into non-theatrical release, primarily on cable channels like CineMax (HBO). It was also broadcast by the BBC and several other operators in Europe. The US Navy purchased a hundred or so 16mm prints for showing onboard their ships. A specialty distributor who provided inflight movies for airlines licensed its use. Same for a distributor who supplied films for college campus theaters. And finally the film was released to the newly emerging home video market. The point being, we had to search out and broker all these deals ourselves.
And the same is true for indie publishers/writers. Anybody who has been in business, whether it’s selling books or selling paper clips, knows that it’s never easy and you have to work at it continuously.
Selling is ALWAYS job one. During the 15 years we toured our play Letters From the Front around the world, selling and marketing was a nonstop daily job – and I mean every single day.
So I guess I come to this issue with a little different and perhaps more cynical (based on experience) but realistic perspective.
If there’s money to be made, then big money is going to control the market. Always. Never been any different since the beginning of commerce. Might makes right.
Will fair play come into play? Don’t count on it.
The question to indie writers/publishers is: what are you going to do about it? Throw up your hands and say the deck is stacked and I don’t stand a chance so to hell with it? Or, I have right on my side but I can’t win so I might as well not play? Are you going to take Amazon and the other major players to court and sue them for what you believe are unfair practices? Good luck. They each have teams of lawyers just waiting to bury you.
Before you jump to the conclusion that I’m being dark or negative, please don’t.
As the old saying goes, there’s more than one way to skin a cat (although why anybody would want to baffles me). Most of my professional life has been spent finding alternate routes around established institutions, with varying degrees of success. My first rule is to never let somebody else define my pathway to success. If I’m going to fail, I want to fail on my own terms. As far as indie publishing is concerned, my wife (a fellow author) and I are still experimenting and searching out alternative paths. It will take time but it always does. I’m confident that we’ll find a way that works for us. We’ve done it many times before.
The threshold we’re shooting for is not just to make money for ourselves, but to make money for somebody else, preferably a large well-funded organization. That’s what we’ve done before. We found a way to make money for major companies with our product, lots of money. Then they started writing checks to us, big checks. I’m not saying this is the only path. We’re all supposed to be creative people — so be creative about this too!
To be exceedingly trite, we don’t look at this as a problem, we look at it as an opportunity. A huge ground-floor opportunity. And we don’t expect anybody or any organization to do the heavy lifting for us. Maybe we’re naive. We’ll see.
Letters From the Front stars Bobbi Kravis and Bob Curren meet with troops at Ft. Lee, VA after a performance and distribute free letter writing kits (source: “Why Letters from the Front is so important today”, click here

Comments Off on Digital Revolution Act Two, Amazon vs. Hachette: What Future for Indies ?

Filed under Digital Revolution