What the hell is Waterstones doing?

Waterstones makes a deal with "the devil".

Why is Waterstones MD James Daunt, who once described Amazon as "a ruthless money-making devil",  joining with said devil in a massive deal?

The bookstore is now going to sell Amazon's Kindle, and "launch other Kindle digital services", refurbishing its stores with digital areas where readers can sit and browse.

Waterstones is yet to fully explain the move, simply saying that:

"The best digital readers, the Kindle family, will be married to the singular pleasures of browsing a curated bookshop."

But this shot at the e-book market seems to be aimed directly at Waterstone's own foot. Why invite the e-book into one of the few nooks which paper books still occupy? One of the pleasures of buying physical books is mooching around a bookshop, browsing, as opposed to the more prosaic digital experience. It might also be noted that Waterstones is doing away with the demographic who continue to buy from them simply because they haven't yet stumbled across e-books.

The deal remains wrapped in mystery. The day before it was announced, an interview with Daunt ran in the Guardian, in which he said Waterstones would soon be joining the e-book revolution, but oddly, that this would involve:

 ...persuading Waterstones customers to choose an e-reader (and ebooks) through a Waterstones-sponsored device. Daunt won't say when this will happen – "it's the bit we have to get right" – but it's imminent. "We'll be different from Amazon," he says, with characteristic ebullience, "and we'll be better."

What's going on?

The deal might have been a panicked one, motivated by Barnes and Noble's recent alliance with Microsoft in a $300m venture last month. This was clearly an excellent move for Barnes and Noble, as they have their own e-book reader and through Microsoft immediately recruited millions of customers. By moving onto Microsoft's turf, Barnes and Noble could only stand to gain.

In contrast, Waterstones, who has no e-book reader of its own, seems to be inviting Amazon to onto their turf. It feels like a bad move.

Photograph: Getty Images
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Tory Brexiter Daniel Hannan: Leave campaign never promised "radical decline" in immigration

The voters might not agree...

BBC Newsnight on Twitter

It was the Leave campaign's pledge to reduce EU immigration that won it the referendum. But Daniel Hannan struck a rather different tone on last night's Newsnight. "It means free movement of labour," the Conservative MEP said of the post-Brexit model he envisaged. An exasperated Evan Davis replied: “I’m sorry we’ve just been through three months of agony on the issue of immigration. The public have been led to believe that what they have voted for is an end to free movement." 

Hannan protested that EU migrants would lose "legal entitlements to live in other countries, to vote in other countries and to claim welfare and to have the same university tuition". But Davis wasn't backing down. "Why didn't you say this in the campaign? Why didn't you say in the campaign that you were wanting a scheme where we have free movement of labour? Come on, that's completely at odds with what the public think they have just voted for." 

Hannan concluded: "We never said there was going to be some radical decline ... we want a measure of control". Your Mole suspects many voters assumed otherwise. If immigration is barely changed, Hannan and others will soon be burned by the very fires they stoked. 

I'm a mole, innit.