I’ve been casually following the whole Craigslist versus Ebay complaint or lawsuit or whatever the real issue is … and just saw this quote from the Craigslist’s blog that totally fascinates me:
“Sadly, we have an uncomfortably conflicted shareholder in our midst, one that is obsessed with dominating online classifieds for the purpose of maximizing its own profits.”
OK, I have to admit … I’ve relatively new to the whole open source community-type ideals. I’m still struggling to fully understand what it means.
I love open source. And I love community.
But it definitely fascinates me in a good way (and I’m not being negative here) … is the last part in particular about Ebay (obviously) being obsessed with wanting to “maximize its own profits.”
Don’t get me wrong … my mom even uses Craigslist … and I acknowledge she uses it and found out about it now because the early and sustained emphasis on “community” got them so insanely popular. Their core values planted them firmly as one of the top dogs on the web. (Why else would Ebay seek out an ownership stake?!)
I’m learning more and more that’s why WordPress is where it is — a community of probably hundreds or thousands of people contributed their time and skill to develop something for the greater whole.
Again, this mindset and perspective is something I’m still coming to terms with … because growing up, I watched with interest my two entrepreneurial grandfathers work in their businesses.
I asked a lot of questions and watched quietly because I wanted to learn from their perspective what it meant to be a successful businessperson.
So I’m asking what you think here … because I’m still learning.
I want to find a way to contribute to the greater community … and still keep the lights on.
Meaning I want to find out how to balance profits and this type of commitment to a community.
I do believe there is that balance (Craigslist obviously makes a healthy income to be content and Automattic ain’t hurting either by giving away 90% of their “product”).
I want to fully grasp the mindset of brushing aside a $5 billion dollar valuation because of that deep commitment to community … because frankly and honestly … I’ve thought about sitting on a beach more than once in my life. 
If craigslist is uncomfortable with the situation then perhaps they shouldn’t have sold 25% of their company to ebay. Once you have shareholders the idea of maximizing profits becomes a responsibility, doesn’t it?
Beth, my understanding is that an employee of craigslist sold their share to Ebay … not sure whether that person approach them or vice versa though.
Either way, it’s been an odd marriage, but don’t think craigslist wanted the “arranged” marriage.
Cory – I believe the currency of the internet is credibility and trust.
Why?
There is so much information out there, credibility & trust becomes king – it tells people what information is worth consuming.
Craigslist has built enormous credibility. WordPress too. There are millions of people trust them.
Once you have enormous wealth in the internet currency, credibility & turst, it’s easy to translate that into the kind of currency that will put you on a beach worry-free!
Tim, you hit it on the head …. this is a good lesson for me.