No, no, don't switch off. I know that you asssociate 17th Street with Kaavya Viswanathan, and I know that you are weary of all that. But I have something new. Honest.
Well, actually John Barlow has something new. He has actually been there -- metaphorically speaking. He has worked with the guys at 17th Street, and got money off them! Which he didn't have to pay back! Now if that isn't worth your time I don't know what is.
John also has a blog, don't forget.
Meanwhile, Reuters report that Kaavya Viswanathan's novel -- good, bad, or indifferent, original or totally pinched -- has been pulled off the shelves by her publisher (link from booktrade.info).
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Today's New York Times: Kaavya Viswanathan "confessed to copying passages...."
What a huge mistake, the repercussions of which will not only follow her forever, but no doubt stigmatize her Indian family terribly within that community as well.
As I wrote in a comment in PW: how could a smart girl be so very dumb?
Take the Half Mill and run, Kaavya.
Ron Hogan of Galleycat and I were talking about the subject of this advance yesterday. It may be that the $500,000 is for three books. If it is, divide $500,000/3 = $166,000. Agent gets 15% off the top.
Hum... does the agent have to pay her/his money back, too, or is the author responsible?
I'm wrong. More info is coming out re the book packager's percentage (which could be 50%) and the agent's percentage (which could be 15%).
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