I can share some perspective on this which will lend evidence to Austin's conclusions regarding the financial gains to be had self-publishing.
Having written ~10 books, including a bestselling technical book for a publisher (13 years in print), worked as an acquisitions editor for large technical publishing house (signed more than 60 books during my time there), and written a bestselling self-published book (http://www.easylaravelbook.com/), it's suffice to say I have a well-rounded understanding of publishing financials.
If you're willing to put the time into writing a quality book (not to mention are a subject matter expert), there are significant profits to be made taking the self-publishing route. It all boils down to the huge profit margin to be had as compared to traditional publishing. Take my Easy Laravel book for instance: I sell it at $28 via Leanpub and Gumroad. Gumroad takes 8.5% + $0.30 per sale, meaning I make $25.32 per unit. Compare this to traditional publishing, in which the same book at $28 would sell into a chain at say a 40% discount ($16.80). The author's royalty is calculated from this, which in most cases starts at 10% (sometimes it scales), meaning the author makes $1.68 per unit sold. This means comparatively the self-published author is making 15 times what the traditional author is making.
So ask yourself: as a self-published author could you sell at least 1/15 the number of books a traditional publisher would otherwise sell? If yes, then you're going to come out ahead. If the book is of sufficient quality, and you are actively promoting it by blogging and maintaining an e-mail list, then there is no doubt in my mind anybody with adequate writing skills (you don't have to be Shakespeare) and determination will come out ahead, particularly given the ability to electronically distribute the book through all major channels.
If you're thinking about self-publishing, just do it. Even if you don't finish the book (many will not), you'll have a lot of fun doing it!
[Edit: Just realized I didn't actually reply in Austin's thread. Despite lurking for years I think this is actually my first ever HN comment. Sorry for being clueless.]
Having written ~10 books, including a bestselling technical book for a publisher (13 years in print), worked as an acquisitions editor for large technical publishing house (signed more than 60 books during my time there), and written a bestselling self-published book (http://www.easylaravelbook.com/), it's suffice to say I have a well-rounded understanding of publishing financials.
If you're willing to put the time into writing a quality book (not to mention are a subject matter expert), there are significant profits to be made taking the self-publishing route. It all boils down to the huge profit margin to be had as compared to traditional publishing. Take my Easy Laravel book for instance: I sell it at $28 via Leanpub and Gumroad. Gumroad takes 8.5% + $0.30 per sale, meaning I make $25.32 per unit. Compare this to traditional publishing, in which the same book at $28 would sell into a chain at say a 40% discount ($16.80). The author's royalty is calculated from this, which in most cases starts at 10% (sometimes it scales), meaning the author makes $1.68 per unit sold. This means comparatively the self-published author is making 15 times what the traditional author is making.
So ask yourself: as a self-published author could you sell at least 1/15 the number of books a traditional publisher would otherwise sell? If yes, then you're going to come out ahead. If the book is of sufficient quality, and you are actively promoting it by blogging and maintaining an e-mail list, then there is no doubt in my mind anybody with adequate writing skills (you don't have to be Shakespeare) and determination will come out ahead, particularly given the ability to electronically distribute the book through all major channels.
If you're thinking about self-publishing, just do it. Even if you don't finish the book (many will not), you'll have a lot of fun doing it!
[Edit: Just realized I didn't actually reply in Austin's thread. Despite lurking for years I think this is actually my first ever HN comment. Sorry for being clueless.]