Quite a good long time ago, I wrote a post about one possible future publishing model that might rise up and replace (or co-exist with) the current traditional model.
I wrote about this before the real explosion in e-books that first started attracting attention sometime in November of 2010 – it’s here, all the way back in February 2010. This was in the early days of my blog, before I had regular readers, so most of you will likely not have seen this post.
I called my idea the “Novel Venture Capital Model”, and the gist was that authors would somehow be able to tap into a network of “angel investors” or “venture capitalists” who were interested in finding and funding successful novelists. The theory was that some authors would abandon traditional publishers because of crazy rights-grabs and depressed royalty rates – but they wouldn’t be able to fund the development, editing, cover art, printing and distribution of books themselves. All of that costs money. Traditionally, publishers fund all that, but the concept of this hypothetical model was to decouple the financing of book production from the physical process, allowing the authors themselves to be the business-people calling the shots.
And then, of course, the e-book revolution began. And part of my hypothetical model actually started coming true. Now, it wasn’t really a prediction – I included in my original post both a pro and a con for why it would succeed and why it would fail. And I’m not interested in having been “right”. What I am interested in is how reality is catching up to those proposals, and my own evolving thoughts on where the world of publishing is going, and what role I will be able to play in that future. Continue reading