The World Is Your Oyster, Oyster Raises $3 Million, Becomes Spotify for Books...

[Ankesh]

Amazon is already doing something similar - but with poor branding as of yet.

From Kindle direct publishing admin panel:

Introducing KDP Select – a new option to make money and promote your book. When you make your book exclusive to Kindle for at least 90 days, it will be part of the Kindle Owner’s Lending Library for the same period and you will earn your share of a monthly fund when readers borrow your books from the library. You can also promote your book as free for up to 5 days during these 90 days.

Oyster seems to have a good team. I hope they succeed and can launch worldwide* instead of just in USA - because with the success of digital books - libraries are in decline. And there is a gap to fill.

(* Netflix is not available in India. Spotify is not available in India. Hulu is not available in India. I don't know why content creators only focus on the US market while licensing their content. Just increases the number of people who pirate their content. With digital content, you can't take a border oriented approach. Because internet has no borders.)