“I think that we recognize that we’re way past the moment of panic,” said the novelist DW Gibson yesterday. “And it now sort of feels like a land of opportunity.”

Mr. Gibson was explaining why he and four of his friends— Choire Sicha of the Awl and fellow novelists Dale Peck, Lisa Dierbeck, and Joshua Furst— have decided to get into the book business.

“We’re a publishing collective,” Mr. Gibson said. “The motivation is to reinstall a notion of editorial process that’s all but vanished from the traditional corporate structure of publishing that’s out there now.”

(Read more in the New York Observer)