Agree with every word, Tim.

A few weeks ago I did piece about Bruce Springsteen ("Are We All Wrong About Bruce Springsteen's Legacy?") that made exactly the point you make about big-name artists making money on their concerts, NOT platforms. It quoted a cultural historian who said that--MAYBE--if you're Taylor Swift, you can make money from singles on a platform like Spotify, but others don't.

I also agree with your comment that the solution is to accept that your books will sell in the hundreds of copies, not thousands or millions (and, I'd add, to factor that into your costs). The Authors Guild has been even more specific: It's said that a typical self-published book sells fewer than 500 copies.

It's so valuable for authors to have the perspective of a publisher who's published a 100 books, and I'm grateful to you for providing it. Thank you!