Microsoft just announced that the digital library they launched when eBooks were in vogue is closing the service, with a whimper and a small print saying that they will reimburse the buyers (which if you don't know, some of them already lost their devices and books).
For me, besides the physical act of discovering and buying a book, it has a network effect starting to unfold:
You cannot resell the book, cannot leave it to your children and, in case someone is swallowing the book service, you may receive something back from the initial price you paid.
eBook became the rent equivalent in book land: instead of owning you are renting, for a long period of time. Already this service is becoming to copy what is happening in any manifestation of "cultural life". Music is not own, is rented, movies are just rented or people are consuming a streaming service. Even the paintings/photos are starting to reach a "fat tail" audience - you get a copy of 1000 signed reproductions, not the original. Less and less people are paying to own but mostly to consume/admire/be close to and have access to "libraries". There are two theories of why is it happening:
For me, besides the physical act of discovering and buying a book, it has a network effect starting to unfold:
- I read the book and post about it
- I recommend the book to my friends and sometimes they borrowed it from me (SOME friends, not any...)
- sometimes I write small ideas or thoughts spurred by ideas presented in the book
- I hope that my kids will enjoy some of the books I bought
You cannot resell the book, cannot leave it to your children and, in case someone is swallowing the book service, you may receive something back from the initial price you paid.
eBook became the rent equivalent in book land: instead of owning you are renting, for a long period of time. Already this service is becoming to copy what is happening in any manifestation of "cultural life". Music is not own, is rented, movies are just rented or people are consuming a streaming service. Even the paintings/photos are starting to reach a "fat tail" audience - you get a copy of 1000 signed reproductions, not the original. Less and less people are paying to own but mostly to consume/admire/be close to and have access to "libraries". There are two theories of why is it happening:
- instead of waiting for the book/picture to become a hit or a miss, democratization is creating revenue in the "fat tail" audience and in the same time produces "waves" at the grass root level
- the author cruises on an "average" value of the market rather than his reputation being thrown in the lucky/unlucky faction
- the brokerage companies in the field are not going to pay top dollars for the star creators as long as other creators are bringing in a stream of small revenues - commoditization of the creation act (in any art format)
- the real value of an art act is no longer proclaimed by the "connoisseurs" but by the numbers of eye-balls (or ads, in the end)
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