Amazon Was Supposed to Kill the Bookstore. James Daunt Had Other Plans | Better in Person
Summary
Stephen Dubner interviews James Daunt, the CEO of Waterstones and Barnes & Noble, about his journey from opening a small London bookshop to reviving two major global chains. Daunt explains his strategy of decentralizing store management to foster local curation and rejecting short-term financial pressures that previously harmed the industry. The conversation covers the enduring value of physical books over digital formats, the role of bookstores as community hubs, and the impact of social media trends like BookTok on sales.
Topics discussed
Intro and guest introduction
James Daunt's background and opening Daunt Books
Leaving banking to pursue bookselling
Early struggles and long-term business principles
Critique of short-termism in retail
Acquiring Waterstones and UK bankruptcy stigma
Funding the Waterstones turnaround
Decentralizing store management and culture
Acquiring Barnes & Noble to protect publishing
Touring a Barnes & Noble store layout
The physical book experience vs. Amazon
Debunking the Amazon and e-reader doom narratives
Zero marketing budget strategy
BookTok and employee social media freedom
The vocational and educational value of bookstores
Reviving new voices and bestseller lists
Bookstores as community third places
Physical vs. digital reading and vinyl sales
Learning from mistakes and slow change
Dinner party guests and closing thoughts
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