It's not just that life is too short to squander on reading bad books, it's that reading bad books is actively painful. Moreover, the indie book that isn't dreadful is the very rare exception in my experience and it's certainly not worth my time to sift the Everest looking for the random nugget.
Frankly, I don't get the limited funds argument. If I couldn't justify spending any money at all on ebooks, I could still read happily for the rest of my life on public domain books and elibrary offerings. Occasional Kobo megacoupons also knock down the price of mainstream books to indie levels.
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