What is craigslists greatest contribution to society?
NEWMARK: Just by being good guys, we’ve created a culture of trust and fairness. The site makes it easier for people to get everyday stuff done, like selling things and finding an apartment. Then there’s another aspect – it has helped people who have a hard time meeting other people. They’re using the site and becoming friends, lovers, and every possible twist on those two situations. In the late ’90s, everyone wanted a piece of craigslist. How many times did you refuse venture capital funding? Somewhere in the low tens of times. But we needed to stay the course. That’s hard to do if someone else owns 51 percent of your shares. On the other hand, I had to take measures to keep myself from going nuts, so in 2000 I hired Jim Buckmaster as CEO, and as a consequence I now own less than 50 percent. It was a good investment. You’ve also had a couple dozen buyout offers for craigslist. Aren’t you tempted to cash out, move from your foggy neighborhood, and buy an island somewhere? I admit that
