This is a YouTube video titled "First time authors: here’s why your expensive book deal isn’t the big win you thought it was…" containing a monologue or single-speaker explanation from March 18, 2024, discussing the financial realities and costs that reduce the net earnings of authors despite large book advances.
The author of this best selling book got paid $100,000 advance. But by the time he finished writing it, he made almost no money. Here's all the costs. Gets paid 100k but the agent takes 15% so that's 15 grand taxes. 24 grand rent for the two years he spent writing the book. $12,000. This was a while ago. Trip to Chicago for research, a grand trip to San Francisco for research, a grand food while writing another $6,000 random items another $2,000. By the time he finishes writing the book, that $100,000 advance ended up being only $40,000. Ouch.
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