"an atm for books"

From the Fortune Small Business Magazine:

With the introduction of the Espresso, buying a book could become as easy as buying a pack of gum. After several years in development, the Espresso – a $50,000 vending machine with a conceivably infinite library – is nearly consumer-ready and will debut in ten to 25 libraries and bookstores in 2007.

The New York Public Library is scheduled to receive its machine in February. The company behind the Espresso is called On Demand Books, founded by legendary book editor Jason Epstein, 78, and Dane Neller, 56, but the technology was developed six years ago by Jeff Marsh, who is a technology advisor for New York City-based On Demand Books.

The machine can print, align, mill, glue and bind two books simultaneously in less than seven minutes, including full-color laminated covers. It prints in any language and will even accommodate right-to-left texts by putting the spine on the right. The upper page limit is 550 pages, though future versions of the machine will accommodate longer works with fewer hassles. Prices for the finished product will vary depending on locations, but the production cost is about a penny per page. Some 2.5 million books are now available – about one million in English and no longer under copyright protection. On Demand accesses the volumes through Google and the Open Content Alliance, among other sources. Neller predicts that within about five years On Demand Books will be able to reproduce every volume ever printed.

See the full article.

What does this mean for online bookstores like Amazon.com?