So Amazon.com is in the news, perhaps in more ways than the company would like.
The latest headline of course is about its recent $10 Billion loss – ouch. So, shareholders aren’t happy as one might expect. The loss is primarily because the stock dropped due to poor quarterly earnings.
The other story actually is from a lengthy column posted on October 19, 2014 on the USAToday website by columnist Michael Wolff, whose take is that “Real books can defeat Amazon and e-books.”
I think you’ll find it an interesting read.
Among his contentions is that Amazon does not care about books because books as an actual product are a minor part of the company’s overall business. He writes instead that rather than how the company can sell books, it is how the company can use books as a gateway – or pawn – in developing new technologies, an interesting statement as Amazon has recently launched its newest reader, the Kindle Voyage. It seems that the company is launching new readers at an incredibly fast pace which, at least on the surface, does support Mr. Wolff’s contention about books as a gateway to technology for the company.
The Kindle Voyage has actually received some favorable reviews to include this one by Ed Baig at USAToday:
But back to Mr. Wolff’s column and the notion that the publishers can defeat Amazon.com in the book arena by selling their books directly to consumers, and more importantly, by focusing on the actual book as in a physical book. He makes a further point that actual bookstores are still important in the bookselling arena, especially the physical book arena, because people still like the bookstore experience. I know that I do but I also like libraries.
Given Amazon’s recent financial losses and some of the backlash from publishers and writers, it will be interesting to see what happens next in the wild and crazy world of publishing and book selling.