Businesses that remain stagnant don't get shafted so much as outmaneuvered. Instead of investing and pivoting, they cling to the old business model. Short term, their decisions make financial sense, but long term, it's a death sentence.

Meanwhile, Amazon is looked at as the behemoth in the industry, yet it probably isn't thought of as an online book store / publisher by most people. I think of so many things before I get to, "Oh yeah, they also sell books."

The one piece of information that I wish the article had mentioned is the age demographics of avid book readers. My gut tells me the market has dropped significantly in the last ~25 years, but I'd like to see the data.