[Consultant32452]

That's because people don't understand that publishers do a lot more than just "publish." They also provide editors, professional typescripting/page layout (whatever you call that), connect authors with artists for covers or other graphic work in/on the book itself, and marketing. Those are huge value ads that will continue to be important forever.

[justincormack]

Authors can buy those services directly. Most of those people are freelance, publishers do not actually employ them anyway. Now some authors do not of course, perhaps disclosure of editors and artists and typographers might grow more.

[Consultant32452]

Authors can buy those services directly but why bother trying to source and vet those things yourself? Some might, and I know the HN crowd is very much of the "I can do everything" mentality. But most people will be happy to pay an intermediary to do those things that are outside of their wheelhouse.

[justincormack]

The intermediary does not have to do it for a percentage of the sales though, these are jobs that are charged by the hour normally. Most freelancers do not want equity in your book, they want cash, so a sane intermediary would just charge a fixed fee.

[czr80]

What if the book doesn't sell? Who absorbs the loss on the upfront costs?