Freakonomics Radio Amazon Was Supposed to Kill the Bookstore. James Daunt Had Other Plans | Better in Person
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Sep 9, 2026 
James Daunt, the British bookseller who founded Daunt Books and revived Waterstones and Barnes & Noble, explains his unconventional retail playbook. He discusses rescuing chains from collapse, empowering local store managers, and curating shelves that algorithms cannot. He explores why bookstores still matter, their role as community spaces, the enduring appeal of physical books, and the risks of chasing short-term profits.
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Choose Long-Term Quality Over Short-Term Glory
- Favor quality and long-term decisions over short-term gains or glory.
- Daunt argues that chasing immediate results created a downward spiral at both Waterstones and Barnes & Noble.
The Investor Who Said Get On With It
- After failing to raise financing, Daunt found a Russian entrepreneur willing to fund his purchase of Waterstones.
- The investor simply handed over the money and told him to get on with running the company.
Local Autonomy Rescued Waterstones
- Bookstores become dull and expensive when headquarters dictates identical operations across every location.
- Daunt shifted authority downward, allowing local managers to shape stores around their spaces, staff, and communities.