Jim Buckmaster of Craigslist recently spoke to Wall Street in a language they could not comprehend.
UBS analyst Ben Schachter wanted to know how Craigslist plans to maximize revenue. It doesn’t, Mr. Buckmaster replied.... “That definitely is not part of the equation.... It’s not part of the goal.” How about running AdSense ads from Google? Craigslist has considered that, Mr. Buckmaster said. They even crunched the numbers, which were “quite staggering.” But users haven’t expressed an interest in seeing ads, so it is not going to happen.... Larry Dignan at ZDNet described the audience as “confused capitalists wondering how a company can exist without the urge to maximize profits.”
John Scalzi comments:
Craigslist was not initially designed to make tons and tons of money for Craig Newmark, as I understand it. He wanted to help people find things.... Presumably it's doing well enough. Unless Newmark and Buckmaster suddenly decide that what they both really need is a 300-foot yacht stocked with cocaine and supermodels, how much more do they need?
How can you not love these guys?