PandoDaily encapsulates the David vs. Goliath battle between Amazon (AMZN +2.5%) and book...
PandoDaily encapsulates the David vs. Goliath battle between Amazon (AMZN +2.5%) and book publishers in a note from an insider that takes a swipe at the "lazy" industry: "Publishing is a quaint little industry based on romance and low profit margins...But now we’re in Amazon’s sights, and they’re going to kill us...we can't pay $1 million for books anymore. Amazon could probably afford to lose $20 million/year in their publishing arm just to put the other publishers out of business."
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