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and it's on top of continued growth in paperback sales." Since the beginning of the year, Amazon says that for every 100 paperbacks it has sold, 115 Kindle books have been sold. Kindle book sales are triple that of hardcovers.

Net income rose 8% to $416 million, or 91 cents per share, topping the estimate of 88 cents per share of analysts polled by FactSet. That compares with $384 million, or 85 cents per share, in the year-ago period. Revenue rose 36% to $12.95 billion. Analysts had expected $13.02 billion.

At a certain point, probably before this decade is out, that parallel universe will reach a point of sophistication and credibility where the degrees—or whatever new word is invented to mean “evidence of your skills and knowledge”—it grants are taken seriously by employers. The online learning environments will be good enough, and access to broadband Internet wide enough, that you won’t need to be a math prodigy like Eren Bali to learn, get a credential, and attract the attention of global employers. Companies like OpenStudy, Kno, Quizlet, Chegg, Inigral, and Degreed will provide all manner of supportive services—study groups, e-books, flash cards, course notes, college-focused social networking, and many other fabulous, as-yet-un-invented things. Bali isn’t just the model of the new ed tech entrepreneur—he’s the new global student, too, finally able to transcend the happenstance of where he was born.

Colleges with strong brand names and other sources of revenue (e.g., government-sponsored research or acculturating the children of the ruling class) will emerge stronger than ever. Everyone else will scramble to survive as vestigial players.

attendance taking, lesson planning, grading and parental communications is

a big part of the job.

Students have the option to purchase the e-book during or after a rental period, and can extend rental period in daily increments.

Students will also be able to refer to any margin notes and highlights they made in their digital textbooks after the rental period is over