Summer Reading: Why More People Are Listening to Books

The physical publishing business at this point is mature. It generates cash but not a lot of growth and even negative growth in some segments. But the economic efficiencies and the consumer benefits of digital shopping and digital media delivery portends, I think, a very bright future for this important industry, and one that represents, incidentally, tens of thousands of hard working writers. Publishing needs a consistent level of innovation, which invariably comes from outside the industry.

How many customers does Audible have and how much are you growing?

At the end of 2007, we had 457,000 members and many hundreds of thousands more shoppers who buy one or two things. That's compared to 381,000 members at the end of 2006. It's been a pretty significant period of growth. We reported 34 percent growth in 2007 in terms of revenue over 2006 and 159 percent growth on the bottom line year over year. Nothing bad about all that, particularly if you compare it to other businesses related to media.

How has life changed since Amazon acquired your company?

The most fundamental way it's changed for me is that I don't spend 40 or 50 percent of my time with accountants, lawyers and hedge fund managers. That's freed me up to spend a portion of that time to be a leader of a division of a fantastic company, a much larger company, and actually see to the knitting of the business -- which has been an incredible gift. After 37 quarters as public company -- of course, who's counting? -- it was time for us to be part of the kind of organization that's capable of scaling to be much bigger. Way before I started a company, I always thought that larger companies were designed to scale fantastic ideas but less designed to start truly embryonic ideas because they tend to have a strong defense mechanism. But I have to tell you, Amazon is something of an exception to that story. They're an exceptional company of that size in terms of the quality of entrepreneurial activity.

What books did you take on your summer vacation?

I went to Thailand, Cambodia and Vietnam. I listened to tours of Bangkok. I listened to cooking shows from audible that got me salivating in advance of the amazing food. But most importantly, I relived my youth as an observer and resister of the Vietnam War by experiencing Stanley Karnow's book on Vietnam, which was a 28-hour listening experience. I listened to it in the car and while I was on the Stairmaster for a week and half before I left, and during the 26 hours of travel from Newark to Bangkok. It was almost haunting to re-experience something that was so much a part of my life between the ages of 16 and 21, and then to actually go to Vietnam. My kids pointed out that I was a bit of pain in the ass to some of the guides because I knew a lot more about what they call "The American War" at various junctures than they did.

Wait, what about the no asshole rule?

Ha, good point. But the fact is, I was gentle in pointing out what happened to Ho Chi Minh at that particular meeting with Cho En Lai. It doesn't take much to embarrass a 22, 19, and 15 year old -- particularly if you're the dad.

And besides, the No Asshole rule is about the toxic, political, and ego-driven stuff that happens in too many organizations. Consistent debate about the best idea or the right answer is very different from a culture of consistent belittling. I know my colleagues of many years can confirm that during (job) interviews, I said that Audible has a no asshole policy, and that if you need or enjoy office politicking and power plays, please stay away.