From a profile of Craig's to-do list
"Craigslist was fast, free and popular, which means you could be pretty sure of getting what you wanted or getting rid of what you didn’t want.
Newspaper income from classifieds, which had provided up to 40 percent of the industry’s revenue, immediately plummeted. Researchers eventually estimated that Craigslist had drained $5 billion from American newspapers over a seven-year period. In the Bay Area, the media was especially hard hit
Mr. Newmark is trying to stop the bleeding — although not here. He is among a gaggle of West Coast technology moguls who are riding to the rescue of the beleaguered East Coast media."Craig Newmark, Newspaper Villain, Is Working to Save Journalism -- NYT