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feuds
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feuds
craigslist
Why Craig Newmark had better not piss off Jim Buckmaster
eBay's lawsuit against Craigslist, alleging that founder Craig Newmark and CEO Jim Buckmaster conspired to squeeze eBay out of the company, is fascinating for many reasons. It reveals Buckmaster and Newmark's naked greed: They issued shares of the company to themselves to increase their stakes and decrease eBay's.But it also shows how tight the two have been with Craigslist's workers. eBay owns, or owned 28.4 percent of the company, a stake acquired from early Craigslist employee Philip Knowlton. Knowlton sold his shares in part because Buckmaster and Newmark were trying to squeeze him out, too. (Are you beginning to see a pattern?) The two, acting as Craigslist's board of directors, issued themselves one new share for every five they already owned, a move which pushed eBay's ownership stake down to 24.85 percent — a level which, among other things, eliminated eBay's ability to elect a director for the company. Do the math, and it becomes clear that Craigslist's other shareholders — presumably its employees — own about 3.3 percent of the company. That's a miserably small portion of equity to give employees of a tech startup; normally, about 20 percent of a company's equity is reserved for employees. More »
feuds
Details of eBay's complaint against Craigslist revealed
The text of eBay's complaint filed in a Delaware court [PDF] has made its way online, and in it, eBay "seeks equitable and legal relief" from Craigslist CEO Jim Buckmaster and founder Craig Newmark for:[B]reaching their fiduciary duties of care, loyalty, and good faith by implementing certain self-dealing transactions challenged herein which were designed specifically to benefit themselves to the detriment of eBay.Allegedly Buckmaster and Newmark attempted to issue themselves new shares in order to keep more of the profits to themselves, instead of sharing the 28.4 percent eBay can demand for their stake in the company, as Valleywag predicted. After the jump, the blow-by-blow account as detailed by the Wall Street Journal. More »
iac
What the Liberty fight reveals: Diller's no entrepreneur
Having borrowed his empire, Barry Diller is now living on borrowed time. Former cable baron John Malone's Liberty Media is trying to break the sophisticated financial arrangements which give Diller control over IAC, his online conglomerate. Diller calls the effort "insane," "hogwash." But here's the reality: Diller owns 28 percent of the company, while Liberty owns 24 percent, according to the company's most recent proxy statement. Liberty, however, controls nearly 60 percent of the company's voting stock. Diller, in turn, has the right to vote Liberty's shares. This complicated entanglement is what Liberty and Diller are fighting about. Far more interesting than the legalisms is what it shows about Diller — and why Diller's so unhappy about it. More »
The fight between John Malone and Barry Diller is getting brutal. As Diller prepares to spin off several businesses, leaving a company focused on the Oakland-based Ask.com search engine, Malone's Liberty Media has asked a court to remove Diller from IAC's board and allow Liberty to appoint several board members, in an effort to seize control of the company. Liberty owns 30 percent of IAC, and holds 62 percent of the voting rights, but an agreement allows Diller to vote Liberty's shares, giving him effective control of the company. [WSJ]
iac
Diller, Lebda to part ways permanently
Not only has Barry Diller exiled his former IAC No. 2, Doug Lebda, to LendingTree; he's officially washing his hands of Lebda's company. After he finishes splitting IAC into five parts, Diller plans to stay involved only with the new IAC and Ticketmaster, as well as Expedia, the online travel agent he spun off in 2005. A source close to Lebda believes he's just as glad to be through with Diller.
Two more bulldogs, one more Corvette than you
We have to wonder, how can Mahalo boy wonder Jason Calacanis ever be grumpy about anything, anything? Carlson, call him again to find out!
We have to wonder, how can Mahalo boy wonder Jason Calacanis ever be grumpy about anything, anything? Carlson, call him again to find out!
nerdfight
BlogNation implodes in uncivil war
Blognation, the mostly Euro-focused competitor to TechCrunch, founded by former TechCrunch blogger Sam Sethi, is imploding — according to TechCrunch. Michael Arrington must find this all delicious: Oliver Starr, a blogger who left Arrington's MobileCrunch site and later landed at BlogNation, is now writing about Sethi's troubles. More »
feuds
So how bad is Windows Vista? The delayed, bloated Microsoft operating system is "very good," according to CNET, earning a 7.4 rating for its Home Premium version. But if you've actually installed it and want a second opinion, you should know that it's one of the "top ten terrible tech products" ... also according to CNET. Whom should we believe? By process of elimination, not CNET.
More »
CNET vs. CNET
So how bad is Windows Vista? The delayed, bloated Microsoft operating system is "very good," according to CNET, earning a 7.4 rating for its Home Premium version. But if you've actually installed it and want a second opinion, you should know that it's one of the "top ten terrible tech products" ... also according to CNET. Whom should we believe? By process of elimination, not CNET.
More »
feuds
Local haters pile on Fake Steve
Options: The Secret Life of Steve Jobs has garnered critical praise from the New York-based media. It's not Huck Finn, but it's a good read — better-written and deeper-thinking than the blog from which it sprang. So of course the Valley's local hacks hate it. Last week it was the SF Weekly. Now, CNET actively dis-recommends the book as a holiday gift. "Fake Steve's influence failed to reach very far outside Silicon Valley, and so the novelized version of the blog has a narrow potential audience indeed," claims the unsigned review (cough yellowbelly cough), in a clear break from reality. "Additionally, three CNET News.com reporters who read Options agreed that the book just isn't that good." More »
"[Movie and television studios] make deals with Steve Jobs, who takes them to the cleaners. They make all these kinds of things, and who's making money? Apple! They should get a piece of Apple. If I was a union, I'd be striking up wherever he is." — Former Disney CEO Michael Eisner on the entertainment business and the Writer's Guild strike, and Apple CEO Steve Jobs, who played a big role in Eisner's ouster. By the way, Mikey? Apple's in Cupertino. Take 101 north, and then it's just a few exits off 280. If you'd spent more time there, maybe you'd still have a job. [CNET]
feuds
Google counters Facebook with AM radio
After Facebook's big launch in New York yesterday, source after source told me Google better watch out. Well, no worries, fans of the big blue, red, yellow and green. Google's got an ad product to knock that Facebook hype back a notch. Today Google made inventory from 1,700 AM and FM stations available to its advertisers through Audio Ads in AdWords. Hear that? AM and FM. Better watch out, Zuck. (Photo by simpsontwin)
feuds
Calacanis considers Silicon Valley gossip blog
It's only speculation, but you can watch funtrepreneur Jason Calacanis connecting the dots in his head: The concept here is you beat me down, but send a couple of dozen readers ... Paul B, [sick of] low-paying job with Nick Denton, takes over the ship ... profit! Dude, I'll take that as another of your public job offers. Make it $12.50 a post and I'll bring Jordan "Bulldog Pup" Golson with me.
picture of the day
Woz likes Fake Steve Jobs better than real one
At yesterday's book signing at Keplers in Menlo Park, Apple cofounder Steve Wozniak penned this inscription on the pages of Dan Lyons's Steve Jobs parody novel, Options: "I like this Steve J. better than the real one." Was he kidding? Maybe. But many a truth is said in jest.
feuds
AVN, AdBrite part ways over porn
AVN, the porn-industry trade publisher, has at last split with longtime partner AdBrite, which ran an AVN-branded online ad network for adult websites. A new network, run solely by AVN, will launch on December 1. We first noticed the relationship was on the rocks when AVN yanked the AdBrite-run AVNads.com website offline and threw up a hastily built, barely functional site of its own back in August. AdBrite then briefed porn publishers about plans for its own porn-ad network, BlackLabelAds, which was supposed to launch in September, but never did. The two partners patched things up, restoring AdBrite's site. One small problem for AVN, though. More »
feuds
Fake Steve to face angry mob at book reading
Yes, tonight's the night. Dan Lyons as Fake Steve Jobs is meeting Segway-polo fanatic Real Steve Wozniak for an Options reading at the Menlo Park Keplers at 7:30. This is a party that we just can't miss. Some of us anyway. My boss is too cheap to let me expense a Virgin America flight cross-country. Owen "Mr. Bigglesworth" Thomas will be there, purring away. So will Megan McCarthy, the self-proclaimed "Princess of the Valley." Finally, very special correspondent Paul Boutin (boo-TAHN) will be there with his wife, Christina Noren, whom voters on Dig a Silicon Valley Girl have deemed the prettiest girl in the area. You don't want to miss that! Hit the jump to see what Fake Steve had to say the last time Woz crashed his party. More »
halloween
Googler Brad Fitzpatrick has dressed up as Facebook for Halloween. Ironic, since he might easily have been a Facebooker dressing up in Google's primary colors right now. Before jumping from Six Apart, he interviewed at both Facebook and Google. And now the two companies are set up for a tumultuous clash — not just over hiring one employee, but over the future of online ads. Facebook is set to announce its own targeted-ad network next week, taking on Google's AdSense; Google is soon to launch open standards for widgets, competing with Facebook's platform for developers. Dave Morin, who manages that platform, had his AIM status set with this message: "Bring it, Fitzpatrick." It's getting scary up in here. Which raises the question: How am I going to put the fright on Silicon Valley this Halloween?
More »
Brad Fitzpatrick says "Boo!" and I do too
Googler Brad Fitzpatrick has dressed up as Facebook for Halloween. Ironic, since he might easily have been a Facebooker dressing up in Google's primary colors right now. Before jumping from Six Apart, he interviewed at both Facebook and Google. And now the two companies are set up for a tumultuous clash — not just over hiring one employee, but over the future of online ads. Facebook is set to announce its own targeted-ad network next week, taking on Google's AdSense; Google is soon to launch open standards for widgets, competing with Facebook's platform for developers. Dave Morin, who manages that platform, had his AIM status set with this message: "Bring it, Fitzpatrick." It's getting scary up in here. Which raises the question: How am I going to put the fright on Silicon Valley this Halloween?
More »
5:51 PM on Wed Oct 31 2007
By Owen Thomas
1,349 views,
3 comments
Latest by wodulikesumpie: Me and a couple of others did this MONTHS ago, and ours was WAAAAY better! more »
great moments in journalism
