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I think the media, here in the US at least, promote an anti-intellectual sentiment. From a young age we get the message here that enjoying any kind of study or being "bookish" is dorky. You have to hide it in school to avoid being picked on. I think there are a lot of people who would enjoy reading but never gave it a chance, not even lightweight fiction.
Still, I think readers are a sizable enough population to make a huge profit. It's just not going to happen until the hardware is cheaper and better. We'll see what Steve says then.
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