Amazon.com, Inc. (NASDAQ:AMZN) is asserting its position as Goliath and to this end, Jeff Bezos, CEO of the e-commerce giant is literally using Malcolm Gladwell’s book, David and Goliath. On Bloomberg, while on an interview with the author himself, Emily Chang revealed that the price of his book on Amazon was $26.10. The same book costs just $19.14 on Barnes & Noble. The real world Goliath is making the writers of Hachette publishing pay through their nose.
” […] It breaks my heart a little. I had thought of Amazon.com, Inc. (NASDAQ:AMZN) as in partnership with writers and for a company to try to make a business point by turning its back on, you know, I have sold through Amazon millions of books, I have contributed mildly to their bottom line. I would have thought they would have seen me as an asset […],” said Gladwell.
Bezos is notorious for his price wars with the merchants on his e-commerce platform, and this time he has taken the war to what many regarded as sacred, the books. Hachette refused to bow down to Amazon.com, Inc. (NASDAQ:AMZN) and its writers are now paying the price.
As Chang mentioned, the issue that Amazon.com, Inc. (NASDAQ:AMZN) is raising is that it is hard to sell books in today’s digital age where there are so many distractions, especially at the price that the publishing group is demanding. Gladwell seemed to be well aware of this and is willing to discuss the matter. However, Amazon knows how to dictate the terms at that negotiations table, and this time this Goliath is not going down.
“[…] Sure let us have a conversation about what the right price of a book is, but along the way, in order to have this conversation, Amazon.com, Inc. (NASDAQ:AMZN) is raising the price of my book and spending several weeks in delivering it […],” said Gladwell.
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