Farewell, printed books

A publishing industry insider describes in an email to Pando Daily’s Sarah Lacy how Amazon.com has changed the landscape:

Long-term there’s no future in printed books. They’ll be like vinyl: pricey and for collectors only. 95% of people will read digitally. Everybody in publishing knows this but most are in denial about it because moving to becoming a digital company means laying off like 40% of our staffs. And the barriers to entry fall, too. We simply don’t want to think about it.

* Publisher: We’re in Amazon’s Sights and They’re Going to Kill Us