Planet Money Inside a BOOK auction
Tom Mayer, executive editor at W.W. Norton, steps inside publishing’s secretive dealmaking. He walks through how editors price ideas, weigh risk, and chase breakout books. Then the drama kicks in: agents stir competition, bids pile up, and a tense beauty contest decides who wins the rights.
43:11
How Agents Turned Planet Money Into A Book Idea
- Jane Von Mehren and Laura Nolan had to sell Alex Goldmark on making a Planet Money book before they could sell any publisher.
- Alex pitched pamphlets and narrow concepts; the agents steered him toward a broad field guide to the global economy with mass-market appeal.
Why Editors Act Like Investors With Taste
- Editors buy books like portfolio managers, knowing a small share of titles generates most profits while many underperform.
- Tom Mayer says he gets about 500 agented proposals yearly, gets excited by 30 or 40, and buys only 10 to 12.
Why Gatekeeping Defines The Book Business
- Publishing relies on stacked gatekeepers: vetted agents filter proposals before editors ever see them, and editors then sell acquisitions internally.
- Tom Mayer says he chases the rare tingle of something undeniable, then must convince colleagues the book fits the house and its economics.
Get the Snipd Podcast app to discover more snips from this episode
Get the app 1 chevron_right 2 chevron_right 3 chevron_right 4 chevron_right 5 chevron_right 6 chevron_right 7 chevron_right 8 chevron_right 9 chevron_right 10 chevron_right 11 chevron_right 12 chevron_right 13 chevron_right 14 chevron_right
Intro
00:00 • 3min
Why Planet Money considered a book
03:15 • 2min
Agents search for a marketable concept
05:16 • 4min
The proposal sells both story and business
09:27 • 2min
Publishing works like a tiny high school
11:25 • 3min
Editors balance art with portfolio risk
14:50 • 3min
A hot proposal sparks a bidding frenzy
17:24 • 5min
Agents design a pressure-filled auction
22:10 • 2min
Book auctions run on strategy and scarcity
24:00 • 4min
Comps and advances drive first-round bids
27:51 • 3min
Sixteen bids narrow to a tense finale
31:05 • 4min
The beauty contest decides the winner
34:58 • 7min
After the deal, the real work begins
42:02 • 1min
Outro
43:17 • 3min
#367
• Mentioned in 77 episodes
The Art of the Deal
Donald Trump
The Art of the Deal to książka autorstwa Donalda Trumpa i Tony'ego Schwartz'a, wydana w 1987 roku.
Opisuje ona filozofię biznesową i strategie negocjacyjne Trumpa, prezentując jego podejście do zawierania umów i osiągania sukcesu w świecie nieruchomości.
Książka zawiera liczne anegdoty z kariery Trumpa, ilustrujące jego metody działania i myślenia.
'The Art of the Deal' szybko stała się bestsellerem, umacniając pozycję Trumpa jako wpływowego przedsiębiorcy.
Publikacja ta przedstawia również jego determinację, pewność siebie i umiejętność przekonywania, które stały się jego znakami rozpoznawczymi.
Dla wielu czytelników 'The Art of the Deal' jest inspiracją do działania i dążenia do sukcesu w biznesie.
#1550
• Mentioned in 27 episodes
The 99% Invisible City
A Field Guide to the Hidden World of Everyday Design
Roman Mars
Kurt Kohlstedt
The 99% Invisible City is a comprehensive guide that explores the often-overlooked aspects of urban design, from infrastructure to architecture.
It delves into how these elements, though invisible to many, play a crucial role in shaping our daily lives.
The book is well-researched and includes detailed illustrations, making it both informative and visually appealing.
#624
• Mentioned in 52 episodes
The Life-Changing Magic of Tidying Up
Marie Kondo
In this book, Marie Kondo introduces her revolutionary KonMari Method for tidying and organizing.
Unlike traditional methods that focus on cleaning room by room or a little at a time, Kondo's approach involves categorizing items (clothes, books, papers, miscellaneous items, and sentimental items) and discarding those that do not spark joy.
The method promises lasting results by changing the way one thinks about and interacts with their possessions.
Kondo emphasizes the importance of handling each item, thanking items for their service, and finding a designated home for each item to maintain a tidy and organized space.
The book also delves into the psychological and lifestyle benefits of tidying, suggesting that it can lead to greater clarity, confidence, and a more intentional way of living.
#1814
• Mentioned in 24 episodes
Dreams from My Father
A Story of Race and Inheritance
Barack Obama
In this memoir, Barack Obama recounts his early life, from his childhood in Hawaii and Kansas to his experiences in Chicago and Kenya.
The book delves into his search for identity as the son of a black African father and a white American mother, and his efforts to reconcile his divided inheritance.
It is a personal and reflective account of his encounters with racism, his family history, and his quest for community and understanding of his roots.
#214
• Mentioned in 107 episodes
Das Kapital
Karl Marx
#42
• Mentioned in 265 episodes
The Wealth of Nations
Adam Smith
Published in 1776, 'The Wealth of Nations' is Adam Smith's magnum opus that laid the groundwork for modern economics.
The book critiques mercantilist economic theories and introduces the concept of the 'invisible hand,' which describes how individual self-interest leads to societal benefit.
It emphasizes the division of labor, the accumulation of capital, and the importance of free markets.
Smith argues that a nation's wealth is not measured by its gold and silver reserves but by the stream of goods and services it produces.
The book also outlines the core functions of government, such as maintaining defense, enforcing civil law, and promoting education, while advocating for limited government intervention in market activities.
#24
• Mentioned in 344 episodes
The big short
Inside the Doomsday Machine
Michael Lewis
The Big Short tells the story of the 2007-08 financial crisis through the lens of several key players who predicted and profited from the collapse of the housing market.
The book focuses on characters such as Steve Eisman, Mike Burry, Greg Lippmann, and the founders of Cornwall Capital, who saw the impending disaster and made significant gains by shorting the market.
Lewis explains the complex financial instruments and the systemic failures that led to the crisis, making the narrative both accessible and engaging.
#216
• Mentioned in 107 episodes
Liar's poker
Michael Lewis
Liar's Poker is a non-fiction, semi-autobiographical book that details Michael Lewis's three-year tenure at Salomon Brothers, one of Wall Street's premier investment firms in the 1980s.
The book provides a behind-the-scenes look at the culture of bond traders, highlighting the frat-boy camaraderie, killer instincts, and high-stakes games of bluffing and deception.
Lewis describes the creation and use of mortgage bonds, the excessive bonuses, and the ruthless competition among traders.
The narrative also touches on the author's disillusionment with the industry, leading to his resignation and transition into financial journalism.
#50
• Mentioned in 251 episodes
Moneyball
The Art of Winning an Unfair Game
Michael Lewis
The book tells the story of the Oakland Athletics' 2002 season, where General Manager Billy Beane and his assistant Paul DePodesta used advanced statistical analysis, known as sabermetrics, to assemble a competitive team despite a limited budget.
The approach, pioneered by Bill James, focused on metrics such as on-base percentage and slugging percentage rather than traditional measures like batting average and runs batted in.
This data-driven strategy allowed the Athletics to compete with teams having much larger payrolls, like the New York Yankees, and achieve significant success, including a 20-game winning streak and a playoff appearance.
In the age of TikTok and Polymarket, it can be easy to overlook the humble book. But books are one of the most influential technologies ever invented. From “The Wealth of Nations” to “Das Kapital,” books have the power to shape whole economic systems… and everything else in our world. The market for books can determine which ideas make it to the masses.
So when Planet Money was approached to make its own book, not only did it present an opportunity to spread the gospel of whimsical economic infotainment to new audiences everywhere, but it also presented an opportunity to get a rare peek behind the curtain of the notoriously opaque world of publishing.
On today’s episode, the first chapter in our series on the making of a book: Planet Money sets out to land a book deal. We enter the high stakes, high school drama of the publishing industry, where literary agents try to woo powerful book editors. And we learn what happens when lofty artistic ideals meet the cold logic of the market. It’s a courtship dance with millions of dollars potentially on the line. There will be whale fights, corporate speed dating, and a literary shotgun wedding.
Related:
- Episode 2: Our BOOK vs. the global supply chain
- Series: Planet Money makes a book
Live event info and tickets here.
Pre-order the Planet Money book and get a free gift. / Subscribe to Planet Money+
Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
Facebook / Instagram / TikTok / Our weekly Newsletter.
This episode was produced by Willa Rubin with production help from Sam Yellowhorse Kesler. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez. Alex Goldmark is our executive producer.
Music: NPR Source Audio - “Run Baby Run,” “Lay It Down,” and “Lazy Ringer.”
To manage podcast ad preferences, review the links below:
See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy
So when Planet Money was approached to make its own book, not only did it present an opportunity to spread the gospel of whimsical economic infotainment to new audiences everywhere, but it also presented an opportunity to get a rare peek behind the curtain of the notoriously opaque world of publishing.
On today’s episode, the first chapter in our series on the making of a book: Planet Money sets out to land a book deal. We enter the high stakes, high school drama of the publishing industry, where literary agents try to woo powerful book editors. And we learn what happens when lofty artistic ideals meet the cold logic of the market. It’s a courtship dance with millions of dollars potentially on the line. There will be whale fights, corporate speed dating, and a literary shotgun wedding.
Related:
- Episode 2: Our BOOK vs. the global supply chain
- Series: Planet Money makes a book
Live event info and tickets here.
Pre-order the Planet Money book and get a free gift. / Subscribe to Planet Money+
Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
Facebook / Instagram / TikTok / Our weekly Newsletter.
This episode was produced by Willa Rubin with production help from Sam Yellowhorse Kesler. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez. Alex Goldmark is our executive producer.
Music: NPR Source Audio - “Run Baby Run,” “Lay It Down,” and “Lazy Ringer.”
To manage podcast ad preferences, review the links below:
See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy