12.10.2006

Craigslist Is a Capitalist's Nightmare (and a User's Dream)

Craigslist Meets the Capitalists and blows their minds by explaining that Craigslist doesn't want to monetize every aspect of the site. They are more content to provide a service and a community for people, their expenses are paid for and they are comfortable.
Jim Buckmaster, the chief executive of Craigslist, caused lots of head-scratching Thursday as he tried to explain to a bunch of Wall Street types why his company is not interested in “monetizing” his ridiculously popular Web operation. Appearing at the UBS global media conference in New York, Mr. Buckmaster took questions from the bemused audience, which apparently could not get its collective mind around the notion that Craigslist exists to help Web users find jobs, cars, apartments and dates — and not so much to make money.
It is because of this that people love Craigslist. I know that I do. It is incredibly refreshing to know that there are successful people in the world that aren't looking to cash out as quickly as they can. I remember the furor the partial sale of Craigslist to eBay caused on the site and I'm really very happy that it hasn't changed the site's philosophy or its desire to help people.

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