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Think about the future of text books, where a good one can be purchased online for the price of an app, say $5 per student.

They would not fall that far. I would be very surprised if any of my math textbooks would fall below $25, and even that level seems unlikely.

Yes, there is a lot of bloat in the system that can be removed. But look at the e-book market on Amazon. Plenty of books cannot go below the $12.99 level due to price floors set by the publisher. And that's for books that sell for under $25 at Barnes and Noble. If the book currently sells for $100+, the publisher is still going to step in, but at a much higher level.

You can then say...what about individuals coming to the table and creating their own book? Well, there are not that many people with all of the skills needed to create and market a textbook. It's a ton of work -- quite different from the comedian you reference -- and that's before you even get to the point of convincing someone to actually buy your book.

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