[C]an you imagine if publishers said you couldn’t loan a book to a friend and let her keep it as a long as she likes? Donate it to Goodwill? Set it free through BookCrossing? Sell it on eBay or Amazon?
We can do all of those things with a real book and none of them with a Kindle book.
I bought my first Kindle-formatted mystery novel today. It was a pragmatic decision, but it wasn’t really a purchase, even though that’s how the publisher and Amazon present the deal.
With Kindle editions we’re really engaging in a long-term lease, not a purchase. And as a result, the rents charged by publishers, as a general rule, far exceed market value. But markets that lack competition (in this case, a lack of interoperability and proprietary formats) will have “rents” that are elevated relative to those that have competition (those with interoperability a.k.a. substitution).
Let’s back up a minute.
I’m not a troglodyte.
I love books (dead tree editions). Continue reading →