Saturday, October 20, 2007

so... how about it Stephen?

Stephen Dubner:

So... how about it, Stephen? Are you going to write that no-nonsense-article about craigslist? pretty please?:) I’m tired of thinking journalists are a bunch of clueless guys and gals that can be taken for a ride... forever! (it's only been about a decade...)

I'll give you three major hints:

#1. re: why don't they "sell out"? --> at the current rate of revenue increases (it reportedly went up again by another 75mill while expenses continue to be kept ridiculously low), how long will it take for that money to end up in Craig&Co's pockets *without* selling? (the highest valuation for craigslist was around 2 billion...)

#2 "great customer service!" --> 25 employees for how MANY users? (the emperor has no clothes...)

#3 WHY did Craig switch from non-profit to for profit in 1999? (keep in mind that staying non-profit would have provided Craig and everyone else employed a decent living -- the non-profit set up allows for normal salaries, benefits etc.--; it would have also meant that net profits would have been spent on things like customer service and improvements instead of ending up in Craig's, Jim's and the other shareholders' pockets)


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