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patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

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Patrick McKenzie

@patio11

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

東京都 Tokyo
kalzumeus.com
Joined February 2009

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    1. Jon Fedor‏ @TheJonFedor 11 Feb 2019
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      Can someone explain the market economics behind Kindle books being more expensive than the paperback versions? Is it as simple as, demand for Kindle versions is higher, we can make more money from Kindle version, therefore, $X price? @FreakyTheory @patio11 @benthompson @amazon

      3 replies 1 retweet 4 likes
    2. Patrick McKenzie‏ @patio11 11 Feb 2019
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      Replying to @TheJonFedor @FreakyTheory and

      Physical books are sold wholesale, where the retail outlet (Amazon) can decide the price. Many publishers contract with Amazon on an "agency model", where the publisher sets a mandatory price and Amazon gets to keep the cut. Amazon and publishers have VERY different incentives.

      4 replies 1 retweet 13 likes
      Patrick McKenzie‏ @patio11 11 Feb 2019
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      Replying to @patio11 @TheJonFedor and

      Amazon will happily undercut MSRP on physical books, because they're more efficient than every other seller of books, and your margin is their opportunity. Amazon will happily undercut *themselves* on Kindle, because it reorients reading behavior to start in Amazon ecosystem.

      5:05 PM - 11 Feb 2019
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      • Jon Fedor KimSia Sim 🇸🇬💻📗
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        2. Patrick McKenzie‏ @patio11 11 Feb 2019
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          Replying to @patio11 @TheJonFedor and

          Publishers basically don't want to turn off Amazon distribution but really, really don't want a world in which Amazon owns every producer and consumer of the written word and then says "Actually, strictly speaking... we don't need you, Big Five. At all." So they set prices high.

          1 reply 0 retweets 3 likes
        3. Jon Fedor‏ @TheJonFedor 12 Feb 2019
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          Replying to @patio11 @FreakyTheory and

          Really interesting. The point about publishers and Amazon having different incentives is clearly key. My wife and I were talking about this at dinner and ended up landing in a similar place where publishers must be setting high thresholds for prices which Amazon can't go below.

          1 reply 0 retweets 0 likes
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