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09-09-2012, 07:28 PM | #46 |
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Nice!
I am ever puzzled by how people seem to think that, somehow, they should have the right to regulate commerce between two willing parties. Amazon wants to sell, I want to buy, why should Apple have a say? Regardless, I have absolutely no doubts that, in the long term, this will mean lower prices for everyone. And if Amazon captures the market, I see no ill. They can have 99% market share, for all I care. The day they decide to raise prices, restrict supply, or whatever, someone will spring in and fill that gap. Market share does not equal market power, in the absence of significant barriers to entry. At the end of the day, forcing everyone to pay a higher price to allow the non-competitive sellers to survive means imposing a tax on everyone so that a minority preserves its freedom of choice. You want your indie bookseller? Go and pay its higher prices, but don't force me to. Because I don't care. If a minority of customers wants choice, they should pay for it out of their own pockets - not from mine. Last edited by vxf; 09-09-2012 at 07:31 PM. |
09-09-2012, 07:54 PM | #47 | |
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09-09-2012, 08:07 PM | #48 | |
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Who else can imagine that somebody sued by the frakking government can recover damages from an uninvolved bystander?!! |
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09-09-2012, 08:10 PM | #49 | |
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09-09-2012, 08:13 PM | #50 |
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09-09-2012, 08:32 PM | #51 |
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09-09-2012, 08:39 PM | #52 | ||
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Stock market valuations are sometimes driven by emotions rather than facts. But there is something to weak versions of the efficient market hypothesis that would imply we can't know in advance if the valuation is irrational. I don't think the PE ratio's implication that Amazon is going to gain enormous market power, so as to become a profit machine, can be dismissed. Quote:
EDITED: Perhaps more important as a barrier to entry than the cost of the programming is how long it takes us to finish big projects. Amazon.com, and barnesandnoble.com, required years to gradually build up to what they now have. Last edited by SteveEisenberg; 09-09-2012 at 08:50 PM. |
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09-09-2012, 08:40 PM | #53 |
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It's high school all over again, huh?
The geeks went on to be epub formatters while the cheerleaders and jocks went on to be purveyors of culture. And now they are forced to rely on the geeks to getthe culture out to the unwashed masses just as they had to rely on the geeks to tutor them past math in High School. Life is sooo un-fair! |
09-09-2012, 08:52 PM | #54 | ||
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From the source, Jeff Bezos answers you: Quote:
So, the people that value amazon stock have to value them more as bonds or munis rather than short-term day-trader investments. And at a time of effective negative interest rates on bonds, Amazon's slow but steady approach obviously appeals to enough people to bid up their stock. As Bezos says, its not a matter of a right way or a wrong way; just people liking *their* way. Whether it be consumers or investors. It is what it is and it is not going to change soon. |
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09-09-2012, 08:57 PM | #55 | |
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09-09-2012, 08:59 PM | #56 | |
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First, high PE could reflect an expectation for growth (and PE is generally assume to be, first of all, a proxy for growth), rather than for increased profit margins. Second, we are talking about EXPECTATIONS. Are you trying to claim that Amazon has some secret plan to raise prices, but that the financial industry someone knows about it, while us ebook consumers are being drawn into the trap? Ya.... Third, higher profit margins don't necessarily mean higher prices, which you seem to imply. They could result from a different product mix and economies of scale (especially in a business that is dominated by fixed costs, such as e-commerce). Barriers to entry? In no way will you convince me that barriers to entry in ebooks are anywhere comparable to those of setting up any brick-and-mortar type of outlet, or to retaining (even online) printed books. |
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09-09-2012, 09:01 PM | #57 |
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So when do these publisher's eBooks become able to be discounted, put on sale, and have more realistic prices?
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09-09-2012, 09:04 PM | #58 |
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09-09-2012, 09:23 PM | #59 |
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09-09-2012, 09:28 PM | #60 | ||
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Maybe this is just your rhetorical style here and should be ignored. But, for the record, I do not ask you to match your beliefs to mine. I'm here for fun, not to bend minds.
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Jeff Bezos is already an unusually long-tenured CEO. In a few years, there could be a whole different management team. So any plan, secret or public, may not matter. Quote:
Now, it's true that someone could, in a few months, set up a bookstore for just best-sellers. Amazon has to protect against this by being willing to take losses on those few titles. If all you read is fiction best-sellers, and you purchase them as eBooks, perhaps the settlement is in your financial interest. |
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