Most books are loss leaders for publishing houses very few are profitable and even fewer are massively profitable. They keep publishing books that barely anybody reads because they have to have a diverse catalog.
That was worth the read. I did get a bit lost when the writer was talking about the different areas, prestige fiction, commercial fiction, nonprofit fiction.
This kind of reminds me of the book Get Shorty and the subsequent movie. About a mafia loan shark moving to hollywood and becoming a producer.
Elmore Leonard was very familiar with movie producers by that point in his career, and clearly saw a a funny similarly between what a mob does and how Hollywood operates.
At the same time, the book is almost a tender mark of appreciation towards the role a producer plays. It's one of the few stories that spotlights what a producer actually does and shows it's importance in greasing the wheels enough to actually make a movie.
I hope The Martian becomes the template of a new publishing world. Andy Weir couldn't get any publisher's attention until he self published and achieved 35,000 sales in three months without their help. He succeeded by word of mouth and not publisher's marketing.
Almost all of the fiction I read comes by personal recommendations. Including from social media like Hacker News. I haven't stood in a bookstore browsing shelves and reading blurbs in many years but I read more than ever.
A publisher provides marketing, editing and distribution. Literary marketing is becoming better in the peer-to-peer form than the old business-to-consumer form. Distribution has become unbundled via self-publishing. Editing is no less important than ever, but it would be so much better if the value from such an individual art can be captured by those talented individuals rather than by corporate.
Long live literature, but may Big Publishing fade away into obsolescence.
Completely disagree. That model means all you’re going to get are pop fiction and the five books trending that month. It leaves very little room for dense publications with more niche audiences.
Bertelsmann (the owner of Random House) is a for-profit corporation just like Palantir (a defense contractor), but the employees of Random House don’t need to be paid as much as the employees at Palantir, because Random House is perceived (by its employees) as fundamentally good
No? The employees of Random House don't need to be paid as much because the supply of qualified candidates for those roles greatly exceeds the demand. There are lots of causes of that imbalance and most of them have nothing to do with the perceived righteousness of publishing. It's also hard to get a job in the abusive video game development industry!
> ...the employees of Random House don’t need to be paid as much as the employees at Palantir, because Random House is perceived (by its employees) as fundamentally good, something that serves humanity, while Palantir designs software that the government uses to find targets for drone strikes. Jobs at Random House are much harder to get than jobs at Palantir, even though jobs at Random House are paid much more poorly.
An interesting take, particularly the assertion that "jobs at Random House are much harder to get than jobs at Palantir." I'd be absolutely 100% shocked if that were true.
Generally, the more a job pays, the harder it is to get hired. These are generally correlated with job-obtaining-difficulty:
> the more a job pays, the harder it is to get hired
That's not axiomatically true, like, at all.
The odds of being hired vary according to the supply of qualified applicants vs available positions. Tech companies with large profit margins will be able to offer higher wages than businesses with lower margins - and do so because they're competing with other tech companies, and (for the most part) not companies in other sectors - so assuming pay is a differentiator across domains can't be assumed. Over the long term, pay differential within a sector will motivate more people to become qualified for jobs within it, but at any particular moment cross-sector compensation isn't really relevant to the question.
This isn't to say the original assertion is true, as they don't offer any evidence, but it wouldn't be shocking to find out that a publishing company has more qualified applicants per job posting than any particular tech company.
And yet I don't know any software engineers in my personal circle who would be willing to work for palantir, and so they must have a fairly hard time finding people willing, thus it can't be as difficult as places where this is not the case (in the same industry).
There are many hyper-credentialized, gatekept systems but most of them don't share the feature of producing structurally worse outcomes as literary fiction. I believe this system is already selling the seeds of its own demise.
A small group of agents hold most of the power, and the system has confused power for taste. This has also, in my experience, led to the outlets that hold the most power using that power to push agendas instead of seeking out the best literature. I do not believe this can persist indefinitely.
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[ 3.2 ms ] story [ 40.2 ms ] threadwell, relatively huge by the article's own admission.
on edit: changed but to by
Elmore Leonard was very familiar with movie producers by that point in his career, and clearly saw a a funny similarly between what a mob does and how Hollywood operates.
At the same time, the book is almost a tender mark of appreciation towards the role a producer plays. It's one of the few stories that spotlights what a producer actually does and shows it's importance in greasing the wheels enough to actually make a movie.
Almost all of the fiction I read comes by personal recommendations. Including from social media like Hacker News. I haven't stood in a bookstore browsing shelves and reading blurbs in many years but I read more than ever.
A publisher provides marketing, editing and distribution. Literary marketing is becoming better in the peer-to-peer form than the old business-to-consumer form. Distribution has become unbundled via self-publishing. Editing is no less important than ever, but it would be so much better if the value from such an individual art can be captured by those talented individuals rather than by corporate.
Long live literature, but may Big Publishing fade away into obsolescence.
No? The employees of Random House don't need to be paid as much because the supply of qualified candidates for those roles greatly exceeds the demand. There are lots of causes of that imbalance and most of them have nothing to do with the perceived righteousness of publishing. It's also hard to get a job in the abusive video game development industry!
An interesting take, particularly the assertion that "jobs at Random House are much harder to get than jobs at Palantir." I'd be absolutely 100% shocked if that were true.
Generally, the more a job pays, the harder it is to get hired. These are generally correlated with job-obtaining-difficulty:
* high pay
* required certifications / licenses (law, medical, etc.)
* (low) supply of workers with desirable experience
Given the above, it seems that Palantir jobs would be much more difficult to obtain.
That's not axiomatically true, like, at all.
The odds of being hired vary according to the supply of qualified applicants vs available positions. Tech companies with large profit margins will be able to offer higher wages than businesses with lower margins - and do so because they're competing with other tech companies, and (for the most part) not companies in other sectors - so assuming pay is a differentiator across domains can't be assumed. Over the long term, pay differential within a sector will motivate more people to become qualified for jobs within it, but at any particular moment cross-sector compensation isn't really relevant to the question.
This isn't to say the original assertion is true, as they don't offer any evidence, but it wouldn't be shocking to find out that a publishing company has more qualified applicants per job posting than any particular tech company.
A small group of agents hold most of the power, and the system has confused power for taste. This has also, in my experience, led to the outlets that hold the most power using that power to push agendas instead of seeking out the best literature. I do not believe this can persist indefinitely.