Will Amazon Destroy The Publishing Industry?

Tech blog PandoDaily is reporting what many of us have seen for a while: Amazon is slowly killing the publishing industry. Have you seen how cheap they price e-books? The biggest threat isn't their cheap prices, but the fact that they now have a publishing arm, and may soon take blockbuster authors away from the traditional publishing houses.  From an anonymous source in the article

We can’t pay $1 million (advances) for books anymore. Amazon could probably afford to lose $20 million/year in their publishing arm just to put the other publishers out of business. I think that’s what they’re trying to do–throw money around in an industry that doesn’t have any, until Amazon becomes not only the only place where you buy books, but the only place that publishes books, too.

Scary, but I do see one upside of this for Christian publishing: authors who deserve a voice being able to get a chance without having to jump so many hurdles. As someone who is hoping to publish an e-book soon, I can't wait to see what happens.