My guest today is Craig Newmark – the Founder of the incredibly successful internet marketplace, Craigslist! Craigslist serves 700 cities in 70 countries and has 250 million users a month. In 2018, only four years after formation, Craigslist reached $1 billion in revenue. 

During the last eight years, Craig Newmark has been one of our country's most active and generous philanthropist. During that time, he has given away more than $200 million. In 2022 alone, he gave away $81 million, which made him the 24th most generous philanthropist in the United States that year.

(01:50) Craig's parents

• Growing up in a Jewish family in New Jersey
• How his father's death impacted his future
• Stress of going to college from a young age
• The influence of Sunday school teachers

(06:29) Craig's Education (Computer Science)

• Mastering quantum physics and computer science
• Using the first computer for the first time
• Being a nerd in high school and college
• Being bullied as a kid

(12:14) Advice for people who don’t want to go to college

• 63% of people graduating college on financial aid
• Advice to those who don't want to go
• Why 42 is not too late to start a company
• Advice to new founders
• Craigslist started as a hobby
• How Craig became an accidental entrepreneur

(18:53) Turning Craigslist into a real company

• How Charles Schwab got started on Craigslist
• Turning a hobby into a business
• The first dollar ad on Craigslist
• The monetization philosophy of Craigslist

(27:04) When is the right time to leave your job to start a company?

• When is the right time to leave a job to start a company
• The fear of failure
• Why he didn't take money from Craigslist
• Advice to other entrepreneurs
• Evaluate and make judgments on the founder
• Advice to those with founder syndrome

(33:55) What went into the decision to hire Jim as CEO

• The decision to hire Jim as CEO
• Early on, Craig asked for the privilege of not being on the phone
• Treating people the way they want to be treated

(40:12) Customer service is a way to make more money

• The CEO of Verizon (customer service is important)
• Dunbar's number and how it's been guiding principles at Craigslist
• None of the figures can be relied on
• Top five elements of success

(57:32) Humility

• The importance of being humble in search of excellence.
• One of Craigslist challenges.
• How Craigslist has dealt with these issues throughout the years.
• How craigslist dealt with the issues.

(1:03:04) The downsides of having a lot of money

• Net worth is estimated to be between one and $3 billion
• The downsides to having a significant amount of money
• His obsession with pigeons

(1:09:32) Philanthropy

• Craig Newmark Philanthropies (CNP)
• Pigeon rescue vs other philanthropic gifts
• How to get involved in philanthropy
• The one piece of advice Craig would give his 21-year-old self

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