A Company Whose Stock I Won’t Be Buying
Posted by: Keir Graff
This time the company is BookSwim, and the Minneapolis Star-Tribune has more on the fledgling company based out of New Jersey. For $15 to $20 per month, the company will send your top five book choices. Return three books in a prepaid envelope, and your next three choices will be mailed to you.
Why would people pay to borrow books instead of getting them for free at their local libraries?
…”the big complaint is most libraries have working hours — they typically close at 5 p.m.,” Siddiqui said. And someone may have checked out the book you want.
This reminds me of those commercials where they try to sell you a new gadget by showing you how hard it is to do a task the old way — and when the old way is perfectly easy. The first one I remember seeing was when they started putting plastic screw-tops on milk and juice cartons. The “before” concept, always filmed in black-and-white, was illustrated by five-thumbed wonders who struggled to open old-fashioned milk cartons (granted, that’s some pretty challenging technology), dousing themselves with milk and juice in the process.
(There must be an industry term* for that kind of commercial. And there must be examples on YouTube. But I need help with my search strategy.)
I’m no businessman, but I always thought the idea was to find an unmet need and meet it rather than convince people their needs aren’t being met. But what do I know? Milk cartons have plastic screw-tops now.
*Just talked to my friend Carlos. He and his wife, Andie, call this the “black-and-white world — where everything goes wrong and insurance rates are through the roof.” See the Table-Mate II, for instance.