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University of California terminates its contract with for-profit academic publishing giant Elsevier, which wanted to charge University authors "publishing fees" to make their work un-paywalled. universityofcalifornia.edu/press-room/uc-…
How academic publishing works: Authors don't get paid for their research. Reviewers don't get paid for peer review. Journal editors don't get paid to edit. The publishers take the final product and sell it back to the universities via multi-million dollar subscriptions.
In 2017 Elsevier netted over $1 billion in profits timeshighereducation.com/news/elseviers…
