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Bezos decided selling books would be the best way to get big fast on the Internet. This was not immediately obvious: bookselling in the United States had always been less of a business than a calling. Profit margins were notoriously thin, and most independent stores depended on low rents. Walk-in traffic was often sporadic, the public’s taste fickle; reliance on a steady stream of bestsellers to keep the landlord at bay was not exactly a sure-fire strategy for remaining solvent.
-- Steve Wasserman, "The Amazon Effect" at The Nation
We are familiar with the way behemoths such as Microsoft, Google, Facebook, and, yes, Amazon have dominated the Web, but this is an account worth keeping. Maybe it is just my age, but I do think we have lost something with the near-extinction of book stores. Nevertheless, convenience and price are the king and queen of our capitalist souls. And it is nice not to have to wait around at bus stops to buy books.
_ _ _
For many of us, the notion that bricks-and-mortar bookstores might one day disappear was unthinkable. Jason Epstein put it best in Book Business, his incisive 2001 book on publishing’s past, present and future, when he offered what now looks to be, given his characteristic unsentimental sobriety, an atypical dollop of unwarranted optimism: “A civilization without retail bookstores is unimaginable. Like shrines and other sacred meeting places, bookstores are essential artifacts of human nature. The feel of a book taken from the shelf and held in the hand is a magical experience, linking writer to reader.”
That sentiment is likely to strike today’s younger readers as nostalgia bordering on fetish. Reality is elsewhere. Consider the millions who are buying those modern Aladdin’s lamps called e-readers. These magical devices, ever more beautiful and nimble in design, have only to be lightly rubbed for the genie of literature to be summoned. Appetite for these idols, especially among the young, is insatiable. For these readers, what counts is whether and how books will be made available to the greatest number of people at the cheapest possible price. Whether readers find books in bookstores or a digital device matters not at all; what matters is cost and ease of access. Walk into any Apple store (temples of the latest fad) and you’ll be engulfed by the near frenzy of folks from all walks of life who seemingly can’t wait to surrender their hard-earned dollars for the latest iPad, Apple’s tablet reader, no matter the constraints of a faltering economy. Then try to find a bookstore. Good luck. If you do, you’ll notice that fewer books are on offer, the aisles wider, customers scarce. Bookstores have lost their mojo.
[...]
Jeff Bezos got what he wanted: Amazon got big fast and is getting bigger, dwarfing all rivals. To fully appreciate the fear that is sucking the oxygen out of publishers’ suites, it is important to understand what a steamroller Amazon has become. Last year it had $48 billion in revenue, more than all six of the major American publishing conglomerates combined, with a cash reserve of $5 billion. The company is valued at nearly $100 billion and employs more than 65,000 workers (all nonunion); Bezos, according to Forbes, is the thirtieth wealthiest man in America. Amazon may be identified in the public mind with books, but the reality is that book sales account for a diminishing share of its overall business; the company is no longer principally a bookseller. Amazon is now an online Walmart, and while 50 percent of its revenues are derived from music, TV shows, movies and, yes, books, another 50 percent comes from a diverse array of products and services. In the late 1990s Bezos bought IMDb.com, the authoritative movie website. In 2009 he went gunning for bigger game, spending nearly $900 million to acquire Zappos.com, a shoe retailer. He also owns Diapers.com, a baby products website. Now he seeks to colonize high-end fashion as well. “Bezos may well be the premier technologist in America,” said Wired, “a figure who casts as big a shadow as legends like Bill Gates and the late Steve Jobs.”
-- Steve Wasserman, "The Amazon Effect" at The Nation
</lj-spoiler
-- Steve Wasserman, "The Amazon Effect" at The Nation
We are familiar with the way behemoths such as Microsoft, Google, Facebook, and, yes, Amazon have dominated the Web, but this is an account worth keeping. Maybe it is just my age, but I do think we have lost something with the near-extinction of book stores. Nevertheless, convenience and price are the king and queen of our capitalist souls. And it is nice not to have to wait around at bus stops to buy books.
_ _ _
For many of us, the notion that bricks-and-mortar bookstores might one day disappear was unthinkable. Jason Epstein put it best in Book Business, his incisive 2001 book on publishing’s past, present and future, when he offered what now looks to be, given his characteristic unsentimental sobriety, an atypical dollop of unwarranted optimism: “A civilization without retail bookstores is unimaginable. Like shrines and other sacred meeting places, bookstores are essential artifacts of human nature. The feel of a book taken from the shelf and held in the hand is a magical experience, linking writer to reader.”
That sentiment is likely to strike today’s younger readers as nostalgia bordering on fetish. Reality is elsewhere. Consider the millions who are buying those modern Aladdin’s lamps called e-readers. These magical devices, ever more beautiful and nimble in design, have only to be lightly rubbed for the genie of literature to be summoned. Appetite for these idols, especially among the young, is insatiable. For these readers, what counts is whether and how books will be made available to the greatest number of people at the cheapest possible price. Whether readers find books in bookstores or a digital device matters not at all; what matters is cost and ease of access. Walk into any Apple store (temples of the latest fad) and you’ll be engulfed by the near frenzy of folks from all walks of life who seemingly can’t wait to surrender their hard-earned dollars for the latest iPad, Apple’s tablet reader, no matter the constraints of a faltering economy. Then try to find a bookstore. Good luck. If you do, you’ll notice that fewer books are on offer, the aisles wider, customers scarce. Bookstores have lost their mojo.
[...]
Jeff Bezos got what he wanted: Amazon got big fast and is getting bigger, dwarfing all rivals. To fully appreciate the fear that is sucking the oxygen out of publishers’ suites, it is important to understand what a steamroller Amazon has become. Last year it had $48 billion in revenue, more than all six of the major American publishing conglomerates combined, with a cash reserve of $5 billion. The company is valued at nearly $100 billion and employs more than 65,000 workers (all nonunion); Bezos, according to Forbes, is the thirtieth wealthiest man in America. Amazon may be identified in the public mind with books, but the reality is that book sales account for a diminishing share of its overall business; the company is no longer principally a bookseller. Amazon is now an online Walmart, and while 50 percent of its revenues are derived from music, TV shows, movies and, yes, books, another 50 percent comes from a diverse array of products and services. In the late 1990s Bezos bought IMDb.com, the authoritative movie website. In 2009 he went gunning for bigger game, spending nearly $900 million to acquire Zappos.com, a shoe retailer. He also owns Diapers.com, a baby products website. Now he seeks to colonize high-end fashion as well. “Bezos may well be the premier technologist in America,” said Wired, “a figure who casts as big a shadow as legends like Bill Gates and the late Steve Jobs.”
-- Steve Wasserman, "The Amazon Effect" at The Nation
</lj-spoiler
