In the 1993 debut issue of Wired magazine, founding editor Louis Rossetto predicted that the media and other industries would be whipped like a “Bengali typhoon” by digital change. As it turns out, Rossetto underestimated the impending mayhem. The ruins of the newspaper industry, music business, and the book trade smolder beneath us, with newspaper companies selling for pennies on the dollar they commanded when Rossetto wrote. Madison Avenue and the retail industry stagger about like cattle just shot to the head with a stun bolt. If re-writing his manifesto today, Rossetto might want to compare the coming gale not to a typhoon but to the solar super-storm of 1859, which made telegraph machines spit fire, turned night into aurora-lit day, and encouraged some to think the end times had arrived.
As tech giants Apple and Amazon apply the squeeze, there has never been a worse time to be in the publishing business. Apple has turned its disruptive death ray on the publishers with an update of its free “iBooks” app, which allows anybody with a Mac to build an ebook and publish for sale in the company’s iBookstore. The rapacious bastards at Amazon are attacking on the same front with their KF8 Kindle software, plus they’re signing book authors (Deepak Chopra, Timothy Ferriss, James Franco, Penny Marshall and more to come) to their publishing imprint. An email, purportedly written by an anonymous book industry “insider” and published at PandoDaily today, got a lot of attention on the Web with its claim that Amazon’s ultimate goal is to destroy conventional publishing.