Why did disgraced stock analyst Henry Blodget post a long email by Mahalo CEO Jason Calacanis to Silicon Alley Insider, and then take it down? There's the obvious reason: Calacanis hadn't given permission for it to be republished. But Silicon Alley Insider has reprinted Calacanis's emails before. We think it more has to do with the fight that broke out in the comments between Calacanis and Howard Lindzon, a Phoenix, Ariz. hedge-fund manager who owns a piece of Blodget's blog. Could it be that Calacanis's copyright gave Blodget a convenient excuse to unpublish the piece — an item that was generating ill will between one of his investors and a startup CEO whom Blodget thought it expedient to suck up to?If so, the peacemaking attempt failed. Lindzon has made no secret of his dislike for Calacanis, on his blog and on Twitter after Twitter after Twitter. In a post discussing the bailout, Lindzon gratuitously dissed Calacanis as someone who "started a bad business (Mahalo.ugh) at the top and now is scared and panicking to his e-mail list." Calacanis extended an olive branch:

Actually, we agree that value is built in the down market. There is less competition for talent, customers and market share in down markets, so it is the ideal time to start. However, many of the A/B round Web 2.0 companies are going to run out of cash before they get to the promised land, and my email newsletter was a to try and help those folks who are struggling.

Lindzon replied:

Actually, stay off my blog.

Does staying off Lindzon's blog include Silicon Alley Insider? No wonder Blodget, always eager to please, would just as soon stay out of this fight.