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One more expensive example. The Kindle edition of Selected Nuclear Materials and Engineering Systems, an e-book for people who design nuclear power plants, sells for more than eight thousand dollars. Figure 2 is an elaborate chart of a reaction scheme, with many callouts and chemical equations. It’s totally illegible. “You Save: $1,607.80 (20 %),” the Kindle page says. “I’m not going to buy this book until the price comes down,” one stern Amazoner wrote.

Here’s what you buy when you buy a Kindle book. You buy the right to display a grouping of words in front of your eyes for your private use with the aid of an electronic display device approved by Amazon. The company uses an encoding format called Topaz. (Topaz is also the name of a novel by Leon Uris, not available at the Kindle Store.) There are other e-book software formats — Adobe Acrobat, for instance, and Microsoft Reader, and an open format called ePub — but Amazon went its own way. Nobody else’s hardware can handle Topaz without Amazon’s permission. That means you can’t read your Kindle books on your computer, or on an e-book reader that competes with the Kindle. (You can, however, read Kindle books on the iPod Touch and the iPhone — more about that later — because Amazon has decided that it’s in its interest to let you.) Maybe you’ve heard of the Sony Reader? The Sony Reader’s page-turning controls are better designed than the Kindle’s controls, and the Reader came out more than a year before the Kindle did; also, its screen is slightly less gray, and its typeface is better, and it can handle ePub and PDF documents without conversion, but forget it. You can’t read a Kindle book on a Sony machine, or on the Ectaco jetBook, the BeBook, the iRex iLiad, the Cybook, the Hanlin V2, or the Foxit eSlick. Kindle books aren’t transferable. You can’t give them away or lend them or sell them. You can’t print them. They are closed clumps of digital code that only one purchaser can own. A copy of a Kindle book dies with its possessor.

On the other hand, there’s no clutter, no pile of paperbacks next to the couch. A Kindle book arrives wirelessly: it’s untouchable; it exists on a higher, purer plane. It’s earth-friendly, too, supposedly. Yes, it’s made of exotic materials that are shipped all over the world’s oceans; yes, it requires electricity to operate and air-conditioned server farms to feed it; yes, it’s fragile and it duplicates what other machines do; yes, it’s difficult to recycle; yes, it will probably take a last boat ride to a Nigerian landfill in five years. But no tree farms are harvested to make a Kindle book; no ten-ton presses turn, no ink is spilled.

Instead of ink on paper, there’s something called Vizplex. Vizplex is the trade name of the layered substance that makes up the Kindle’s display — i.e., the six-inch-diagonal rectangle that you read from. It’s a marvel of bi-stable microspheres, and it took lots of work and more than 150 million dollars to develop, but it’s really still in the prototype phase. Vizplex, in slurry form, is made in Cambridge, Massachusetts, by a company called E Ink. E Ink layers it onto a film, or “frontplane laminate,” at a plant in western Massachusetts, and then sends the laminate to Taiwan, where its parent company, P.V.I. (which stands for Prime View International, itself a subsidiary of a large paper company), marries it to an electronic grid, or backplane. The backplane tells the frontplane what to do.

The prospect of Vizplex first arose in the mind of a scientist, Joseph Jacobson, who now works at M.I.T.’s Media Lab and avoids interviews on the subject of e-paper. Sometime in the mid-nineties, according to a colleague, Jacobson was sitting on a beach reading. He finished his book. What next? He didn’t want to walk off the beach to get another book, and he didn’t want to lie on the beach and dig moist holes with his feet, thinking about the algorithmic beauty of seaweeds. What he wanted was to push a little button that would swap the words in the book he held for the words in some other book somewhere else. He wanted the book he held to be infinitely rewriteable — to be, in fact, the very last book he would ever have to own. He called it “The Last Book.” To make the Last Book, he would have to invent a new kind of paper: RadioPaper.

At M.I.T., Jacobson and a group of undergraduates made lists of requirements, methods, and materials. One of their tenets was: RadioPaper must reflect, like real paper. It must not emit. It couldn’t be based on some improved type of liquid-crystal screen, no matter how high its resolution, no matter how perfectly jewel-like its colors, no matter how imperceptibly quick its flicker, because liquid crystals are backlit, and backlighting, they believed, is intrinsically bad because it’s hard on the eyes. RadioPaper also had to be flexible, they thought, and it had to persist until recycled in situ. It should hold its image even when it drew no current, just as paper could. How to do that? One student came up with the idea of a quilt of tiny white balls in colored dye. To make the letter A, say, microsquirts of electricity would grab some of the microballs and pull them down in their capsule, drowning them in the dye and making that capsule and neighboring capsules go dark and stay dark until some more electricity flowed through in a second or a day or a week. This was the magic of electrophoresis.

In 1997, Jacobson and his partners joined with Russ Wilcox, an entrepreneur from Harvard Business School, to form E Ink. “When we first got involved with this, people were, like, ‘Oh, you’re trying to kill the book,’” Wilcox said recently, by telephone. “And we’re, like, ‘No, we love the book.’ Unfortunately, we fear for its future, because people just expect digital media these days. The economic pressures are immense.”

The newspaper industry, Wilcox figured, was a 180-billion-dollar-a-year business, and book publishing was an additional 80 billion. Half of that was papermaking, ink mixing, printing, transport, inventory, and the warehousing of physical goods. “So you can save a hundred and thirty billion dollars a year if you move the information digitally,” he told me. “There’s a lot of hidden forces at work that are all combining to make this sort of a big tidal wave that’s coming.”

E Ink ran into some trouble after 2000, when there was less venture capital to go around. The company’s direction changed slightly. It wouldn’t make the Last Book, but it would sell other manufacturers the means to do so. The company’s models were Coca-Cola — which grew great by selling the syrup and letting others do the bottling — and NutraSweet. “Imagine you’re NutraSweet,” Wilcox said. “The cola industry is already up and running. There’s no way you’re going to make your own diet cola and compete head to head. So what do you do? You sell the ingredient.”

E Ink’s first big, visible customer was Sony. Sony bought a lot of Vizplex display screens for its Reader, the PRS-500, which Howard Stringer, Sony’s C.E.O., introduced at the Consumer Electronics Show in Las Vegas in January 2006, standing in front of a photograph of the electrophoretic version of Dan Brown’s The Da Vinci Code. Sony set up an online bookstore, and sold its machines at Borders Books and the Sony Store, and, later, at Target, Costco, Staples, and Walmart. Sony is, of course, a deft hand at handheld design. Its Reader was very good, given the Etch-A-Sketch limitations of the Vizplex medium, but it lacked wirelessness — you had to USB-cable it to a computer in order to load a book onto it — and Sony had no gift for retail bookselling. Hundreds of thousands of Sony Readers have sold — and you can now read five hundred thousand public-domain Google Books on it in ePub format — but, oddly, people ignore it.