Nice piece in the Wall Street Journal about Craigslist and how it could be making a lot more money than it is currently. In the interview, Jim Buckmaster makes a couple of very sounds arguments for their business model "In the big Internet boom, thousands of companies were set up, with the exception of us, pretty much all of them were set up with the primary objective being to make a lot of money." And yet, he continues, "Almost all of those businesses went under and never made any money. Even businesses like Amazon still haven't made any money. They are still, over their entire lifetime, net negative. Here we are, we've been in the black since 1999 -- six or seven years." He’s right, particularly about the Amazon scam. Even though they’re making a small “Before EBTIA profit.” Which means they’re still not making a real profit, they are carrying billions in debt. But don’t tell that to “Time Man of the Year, Jeffo”… He’s still smiling.
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