The Eric Ries Show
The Eric Ries Show
Eric Ries
He turned down $11 billion, here’s why | Craig Newmark (Craigslist Founder)
1 hour 10 minutes Posted Feb 6, 2025 at 2:00 pm.
) Intro
) The origins of Craigslist
) Why Craig used email in the beginning
) Lessons from Sunday school that shaped Craig’s moral compass
) How Craigslist promoted community
) Craig’s resistance to the allure of maximum monetization
) Why Craigslist became a private business, rather than a non-profit
) How monetization works at Craigslist
) Why Craigslist doesn’t need to drive engagement the way social media sites do
) The size and scale of Craigslist
) Current threats in cybersecurity
) How Craig became interested in cybersecurity
) How Craigslist maintained mission alignment after Craig left management
) Craig’s perspective on contentment and why he’s remained fulfilled
) Advice for aspiring world-changers
) Craig’s thoughts on AI
) Craig’s philanthropic work with journalism
) Problems in journalism today
) Craig’s involvement with Donors Choose
) Craig’s pigeon rescue work
) Advice for new founders
) The importance of staying close to the customer
) The case for avoiding exploitation
) Lightning round
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1:10:34
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Show notes
In this episode of The Eric Ries Show, I sit down with Craig Newmark, the founder of Craigslist—one of the internet’s most influential platforms. Despite its massive impact, Craigslist has remained intentionally minimalist, resisting the hyper-monetization strategies common in tech.
Craig attributes his success to being in the right place at the right time, but his story reveals a deeper truth: a steadfast commitment to his values. We discuss how his moral compass shaped Craigslist, his approach to business sustainability, and his perspective on ethical entrepreneurship.
In this episode, we cover:
• The origins of Craigslist as a simple email newsletter
• Why Craig resisted aggressive monetization and focused on community impact
• The market research behind Craigslist’s minimal fees
• How Craigslist maintained its mission even after Craig stepped back from leadership
• Craig’s thoughts on AI, cybersecurity, and the future of journalism
• How Craig’s strong relationship with customers kept him aligned with his values
• Craig’s philanthropic work
• Craig’s advice for new founders
• And more!
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Where to find Craig Newmark:
• LinkedIn: https://www.linkedin.com/in/craignewmark/
• X: https://x.com/craignewmark
Where to find Eric:
• Newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ericries.carrd.co/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 
• Podcast: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ericriesshow.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 
• YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@theericriesshow⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 
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You can find the transcript and references at ⁠⁠⁠⁠⁠⁠⁠⁠https://www.ericriesshow.com/⁠⁠⁠⁠⁠⁠⁠
Production and marketing by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://penname.co/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
Eric may be an investor in the companies discussed.