#082 Paul Millerd: Profits in Publishing, Why Self-Publish, How Authors Make Big Money
Smart Friends29 Loka 2024

#082 Paul Millerd: Profits in Publishing, Why Self-Publish, How Authors Make Big Money

Links: Scribe Media Paul’s website The Pathless Path by Paul Millerd Good Work by Paul Millerd Paul on X Topics: (00:00:00) - Intro (00:03:15) - Introducing Paul, and the early days of the publishing industry. (00:06:48) - The earliest days of publishing, distribution of profit, and printing methods. (00:17:46) - The 2014 E-book collusion (00:20:27) - The self-publishing surge, the $4.99 sweet spot, and where authors can optimize. (00:24:47)- The history of paperbacks (00:37:28) - Book deals and agents (00:48:15) - The India market, publisher problems, and compounding disinterest. (01:06:06) - The future of publishing To support this podcast: >> Explore writing or publishing your book with Scribe: Scribemedia.com >> Buy a copy of the Navalmanack: www.navalmanack.com/ >> Buy a copy of The Anthology of Balaji: https://balajianthology.com/ >> Sign up for my online course and community about building your Personal Leverage: https://www.ejorgenson.com/leverage >> Invest in early-stage companies alongside Eric and his partners at Rolling Fun: https://angel.co/v/back/rolling-fun >> Join the free weekly email list at ejorgenson.com/newsletter >> Text the podcast to a friend >> Or at least give the podcast a positive review to help us reach new listeners! Here’s what we explored in the episode: We dive deep into the quirky history of the publishing industry, tracing it all the way back to the 1400s. In the 19th century, authors could increase their earnings by co-investing in fixed costs, like print plates and bookbinding. Traditional Publishing has always seen hardcovers as “the real books” and sought to protect them and their profits. Trade paperback was published only after a successful hardcover, with those rights often sold separately. Self-publishing changed the game for authors, with Amazon enabling print-on-demand and much higher royalty percentages. If you are an author signing with a traditional publisher, realize YOU ARE NOT THE CUSTOMER–book retailers are their customers. Lots of authors who earned big money retained their rights. Stephen King retained his paperback rights an early successful book. After the hardcover version succeeded, he sold those rights for $400,000 Harper Lee made significant earnings from To Kill a Mockingbird by retaining movie adaptation rights. Tom Clancy held on to his film and international rights. This later became highly lucrative as his popularity grew and more of his books got adaptations. Traditional Publishers often prioritize prestige, tradition, and their profits – which doesn’t always align with author’s goals. Indie authors can now disregard tradition and experiment with pricing strategies to maximize reach, revenue, and their own personal results. Important Quotes from the podcast on Business and Entrepreneurship There is no skill called “business.” Avoid business magazines and business classes. - Naval Ravikant You have to work up to the point where you can own equity in a business. You could own equity as a small shareholder where you bought stock. You could also own it as an owner where you started the company. Ownership is really important. Everybody who really makes money at some point owns a piece of a product, a business, or some IP. That can be through stock options if you work at a tech company. That’s a fine way to start.

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#088 Toby Rush: $100M Exits, Splitting Companies, Timing Startups, and Ideem Killing 2FA

#088 Toby Rush: $100M Exits, Splitting Companies, Timing Startups, and Ideem Killing 2FA

Topics: (00:00:00) - Intro (00:03:45) - Who are your heroes? (00:05:16) - What is something you’ve had to teach yourself that’s become a core part of your identity? (00:07:34) - Taking a sabbatica...

10 Kesä 20251h 2min

#087 Nat Eliason: From Blogging to Sci-Fi Novels, Writing Books That Last, and Owning Your Audience

#087 Nat Eliason: From Blogging to Sci-Fi Novels, Writing Books That Last, and Owning Your Audience

Topics: (00:00:00) - Intro   (00:00:45) - Introducing Nat Eliason   (00:01:27) - Nat's Diverse Career and Writing Journey   (00:01:47) - The Transition from Nonfiction to Fiction   (00:02:13) - T...

27 Touko 20251h 19min

#086 Jim O’Shaughnessy: Learning to Learn, AI Disruption, and the Future of Publishing

#086 Jim O’Shaughnessy: Learning to Learn, AI Disruption, and the Future of Publishing

Topics: (00:00:00) - Intro (00:03:30) - What’s the most important thing you’ve ever learned? (00:07:23) - Learning to Learn (00:11:20) - How learning changes as you age (00:18:51) - How do you think a...

21 Tammi 20251h 7min

#085 Ben Reinhardt: How to Discover New Technology, Playing the Longest Game, and Philanthropy in Technology

#085 Ben Reinhardt: How to Discover New Technology, Playing the Longest Game, and Philanthropy in Technology

Topics: (00:00:00) - Intro (00:05:25) - Studying both Medieval History and Engineering (00:09:48) - Founding Speculative Technologies (00:11:25) - Defining “Useful” in Science and Technology (00:13:46...

7 Tammi 202556min

#084 Augustus Doricko: How to Terraform Earth, The History of Weather Control, and The Mandate of Heaven

#084 Augustus Doricko: How to Terraform Earth, The History of Weather Control, and The Mandate of Heaven

Topics: (00:00:00) - Intro (00:03:13) - Catching up (00:13:14) - Making Earth (even more) Habitable by Controlling Weather (00:26:54) - Doug Burgum: Next Secretary of the Dept. of the Interior (00:31:...

10 Joulu 20241h 1min

#083 Klaus Kleinfeld: How to Lead Fortune 500 Companies, Manage Energy, Inspire Teams

#083 Klaus Kleinfeld: How to Lead Fortune 500 Companies, Manage Energy, Inspire Teams

Topics: (00:00:00) - Intro (00:04:24) - Watching the moon landing (00:07:32) - Klaus’ career (00:10:08) - Why Klaus wrote Leading To Thrive (00:15:13) - Energy management, not time management (00:19:3...

26 Marras 20241h 15min

#081 The Next Industrial Revolution w/ J. Storrs Hall [Replay]

#081 The Next Industrial Revolution w/ J. Storrs Hall [Replay]

This is a replay of episode 34 of this podcast. Links:  Josh’s Bio - Autogeny.org Where is my flying car? By J. Storrs Hall Little Fuzzy by H. Beam Piper The Martian by Andy Weir Snow Crash by Ne...

2 Loka 20241h 37min

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