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In 2008 Craigslist was worth $5 billion with revenues around $80 million. I worked for newspapers with losses on $1-5 million revenues. There were tons of inv
by subpixel 4y ago
In 2008 Craigslist was worth $5 billion with revenues around $80 million.
I worked for newspapers with losses on $1-5 million revenues.
There were tons of investment opportunities and the publishers were up against a wall. Again not saying this was necessarily smart business but this is a fantasy remember?
- nindalf 4y agoA few newspapers making a few million in losses? Well, America has lost almost 1,800 papers since 2004, including more than 60 dailies and 1,700 weeklies. (Source: https://www.usnewsdeserts.com/reports/expanding-news-desert/loss-of-local-news/loss-newspapers-readers/ https://www.usnewsdeserts.com/reports/expanding-news-desert/...) So if each newspaper needed just $500k to stay afloat, we’re talking almost a billion dollars. Craigslist was making a tenth of that in revenue, according to you. Their profit was a fraction of that. I’m not criticising your dream. I’m criticising the people who advocate for this position in real life. “Tax/regulate tech! That’ll solve everything!”