The claim that Craigslist is far from long-run profit maximizing is pretty dubious. It’s compatible with the evidence as far as I can see but not very likely. That claim may just be a nice excuse in one interview. Craigslist has for-profit investors, even if they claim to be hands-off.
“It is believed to be owned principally by Newmark, Buckmaster, and eBay (the three board members). eBay owns approximately 25%, and Newmark is believed to own the largest stake.”
Given how eBay got its own Craigslist clone and is suing them, I’d say CL is far from long-run profit maximizing.
Yeah, eBay is a hostile shareholder. I believe Craig gave an early employee/cofounder 25% of the company in a verbal agreement and that verbal 25% later became worth a lot of money.
The claim that Craigslist is far from long-run profit maximizing is pretty dubious. It’s compatible with the evidence as far as I can see but not very likely. That claim may just be a nice excuse in one interview. Craigslist has for-profit investors, even if they claim to be hands-off.
What investors?
Given how eBay got its own Craigslist clone and is suing them, I’d say CL is far from long-run profit maximizing.
I wasn’t familiar with the lawsuit, that’s good evidence.
Yeah, eBay is a hostile shareholder. I believe Craig gave an early employee/cofounder 25% of the company in a verbal agreement and that verbal 25% later became worth a lot of money.
Reading that comment left me with an aftertaste of comma.
ETA: Judging by the downvote, this was a bad way of pointing out that the parent comment ended in a comma.