"... there is a persistent, widespread view that Newmark’s humble-looking site destroyed classified advertising, one of the newspaper industry’s most valuable cash cows. Last October’s New York Times article – the one that called him a 'villain' – stated: 'Researchers eventually estimated that Craigslist had drained $5bn from American newspapers over a seven-year period. In the Bay Area, the media was especially hard hit'.”
Thing is, once the net and the web went mainstream, the decline of the classified ad sections funding newspaper journalism was inevitable. Even if there were no #Craigslist etc, there would still be #Freecycle.org and info pages listing local second hand dealers, and other net-based tools that help people exchange used stuff. In #Aotearoa, one of the major newspaper chains moved with the times by buying #TradeMe, the local equivalent of #Ebay or #Amazon.
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