Brent Dax (brentdax) wrote,
Brent Dax
brentdax

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Steve Jobs is an evil genius.

"The dirty little secret of all this is there's no way to make money on these stores," he says. For every 99¢ Apple gets from your credit card, 65¢ goes straight to the music label. Another quarter or so gets eaten up by distribution costs. At most, Jobs is left with a dime per track, so even $500 million in annual sales would add up to a paltry $50 million profit. Why even bother? "Because we're selling iPods," Jobs says, grinning.
--Invention of the Year: The 99¢ Solution
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