Robert Ito at the New York Times writes about how ridiculous the book business has become:
The item up for bidding was, at first blush, unremarkable. It was an unfinished manuscript, 397 pages long, less than half of the planned book, as well as an outline detailing story arcs and plot points to come. The writer? Someone named Jordan Ainsley, whom no one had ever heard of — not readers, not book editors, certainly not anyone in Hollywood. Yet the biggest movie studios were being asked to pony up seven figures for the privilege of committing the book, sight half-unseen, to film.
And the studios promptly, and exuberantly, threw themselves into a bidding war.