I love reading about economic theories and how they relate to and describe the internet and the information economy. An article I read some time ago called Bad competitors are ruining markets everywhere helped clarify my thoughts on the industry. The article makes me even more impressed by the founders of Craigslist than I already was.
It describes how their interest in the utility of information (specifically classified advertisements) has contributed to the collapse of the business model of classified advertising supporting newspapers. According to the English Times newspaper: "Craigslist is a public service as much as a private company. For [founders] Newmark and Buckmaster, the internet has a higher calling than money-making."...Read Full Article»
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