I read this yesterday but was foolishly — and fruitlessly! — putting the PC in BitTorrent zombie mode.
Now it seems to be generating widespread attention.
Investors can pay $2,000 (£1,000) in return for a 10 per cent share of the royalties of Tao Lin’s as-yet-unfinished second novel.
Tao posted details of his “initial public offering” on his popular literary blog last week and claims to have already lined up buyers for five of the six shares.
He predicts, with little supporting evidence, that the novel will sell at least 13,000 copies in the US within two years, and that investors should be able to turn a profit within 40 months.
With potential film and reprint rights included, investors would then continue to reap dividends “every 6 months for the rest of their lives without having to do anything,” Tao predicts.
And the 25-year-old says he likes the idea of a group of capitalists having a financial interest in his sales.
“If anyone buys shares they will have concrete motivation to promote me and that also will increase sales,” he wrote.
“If people buy shares I will probably, I think, make even more money than if I had not sold shares of my royalties.”
Emphasis added by me.
Hey, maybe Seth Godin should invest!
Yeah, Seth, put up some money or STFU about books.