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I like ebook updates. I'd even want a "report bug/typo/errata" feature in every ereader.
Most [printed] books have errors. For paper once printed it's too late to correct any of them, with ebooks it's possible. It's definitely the kind of thing I'd like to see with ebooks.
Unfortunately it doesn't really seem part of the concept, there is no interface for an ebook author to update their work and have it propagated through all sales channels.
So it doesn't seem to work for ebooks the same way it does for software, but maybe it should. Of course the ebook reader could be nice and ask whether you want to download the updated version or not.
I think I've seen a page on Smashwords in the past that even let you download old versions of books - so it had a history like Wikipedia pages - but I can't find it anymore so either it was removed or I remember wrong.
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