Tim Waterstone read English at Cambridge before moving to Calcutta to work for a broking firm. On returning to England he worked for WH Smith for eight years, and went on to found the bookselling chain Waterstone’s in 1982, which he left in 2001. He is currently Chancellor of Edinburgh Napier University, has published four novels, a semi-autobiographical business book, and many articles in the arts and business media.

Why does Amazon rule supreme in book sales? Bookseller Tim Waterstone recounts the story of how his eponymous chain was ruined.