Bob Young left Red Hat, for self-publishing firm LuLu.com

I am surprised to know that Red Hat Inc. co-founder and former CEO Bob Young, has resigned from the company he co-founded, and plan to concentrate on Lulu.com, an independent online self-publishing marketplace he started three years ago.
Like Bill Gates to Microsoft, Larry Ellison to Oracle, or Michael Dell to Dell, Bob Young is inseparable to Red Hat Inc, the pioneer in the Open Source software industry. Red Hat Inc is currently profitable and ranks first in enterprise Linux market share.
Young said that one of the reasons he's leaving the Red Hat board is because it was taking too much time away from the development of his new project.
Lulu is a new on-line self-publishing company, it allows authors to upload works free to the Internet in a variety of media formats, where its collaborative publishing engine instantaneously transforms them into published products that can be used for collaboration, or purchased as traditional bound books, CD-ROMs, or e-Books.
My take on this? On-line self-publishing is the next frontier of human knowledge advancement.


Path to publication - the old way

The 1st step on the old path to publication begins with query letter. Nearly all the major publishing houses will not accept unsolicited submissions. So for a new author, acquiring a literary agent is mandatory. The agent sends a brief query letter and a proposal ( if the book is nonfiction), or the manuscript and a synopsis (if the book is a fiction), to the editor that the agent feels would be a good match.
The editor reviews the submissions and select those books projects they feel most excited about, that fits the house's list at the time, and will sell well. At the publishing house's editorial meetings, the editors present their selections. Questions and answers follow to determine if the book has a market, if it is well written, what the competition is, and what the potential "hook" for publicity might be. Finally, a decision is made about which books will receive an offer.
The agent and editor begin negotiations for the advance, royalties, and other issues of the contract. Advances for fiction can range from a few thousands dollars to seven figures for bestselling authors. The advance is paid to thr literary agent, who then deducts their commission and sends a check for the remainder to the author.
The book editor is a champion of book within a publishing house. As a group, they are the people who have the power to decide what we - as a nation - will or will not read.