Sad to say, but this article tells it exactly how it is in the pub industry. The only caveat is that the author has had the advantage of five conventionally published books on which to build his digital platform.
This is a cross-post from James Altucher‘s blog Altucher Confidential. His previous appearances on the Freakonomics blog can be found here.
And while we're on the subject of writing and publishing, this post from The Millions may instruct and perhaps hearten writers of short fiction.
And then there's this from bookhitch:
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Hope this gives you writers a boost. Later.