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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