MediaBistro interviewed Paul Theroux, author of such books as Sailing through China and A Dead Hand: A Crime in Calcutta. I can't embed the audio clip here, so I'm going to have to send you over to their site. It's worth listening to. Here is an excerpt:
"I think it's a very, very strange thing. I can't say it's good or bad. The big danger is copyright infringement. Stealing books and sharing books without paying for them. What could happen to the publishing industry is what happened to the music industry. It was destroyed. Absolutely destroyed. People don't buy cd's anymore, they share [MP3s], they swap them, and they steal them. That could happen with books. The upside is that ... my [Atlantic piece] is a 17,000 word story. You could open the New Yorker and you won't find a 17,000 word story. That's a big, it's more than twice as long as the longest story ... The technological part is great, but the legal part, the copyright part, I don't know what will happen."
BTW, if you want to download it as a MP3, click here.