The main thing anyone ever knew about Edgeio, an online classifieds startup, is that it launched Michael Arrington's career at TechCrunch. Desperate to find out more information about this "Web 2.0" thing he kept hearing about, Arrington started blogging, and eventually left Edgeio, swapping a 10 percent stake in TechCrunch for a 10 percent stake in Edgeio. Arrington's stake is now worthless — which I think would actually make Teare the savvier businessman here — and Edgeio's assets have been sold at auction.

LookSmart, a San Francisco-based online-ad company, signed a long-term deal on a South of Market office building in its 1999 dotcom heyday. Since then, it has struggled to fill the brick fortress located at 2nd and Brannan. The first answer was to set up the empty space into a startup incubator, attracting tenants with bubbly names like Mashery, Twistage, and LicketyShip. But it appears those startups are about to lose their space. As rumored, the San Francisco office of MySpace will be heading into the building, and LookSmart is using the chance to shuffle the startups out. A tipster tells us:

These days, LookSmart, the money-losing San Francisco-based search-advertising company, is better known as successful landlord to startups than a successful business. No wonder that CEO David Hills has resigned, ostensibly to start his own, less troubled concern. But his timing couldn't be worse. Just last month, LookSmart promised investors Hills would be on today's earnings call. Word of his resignation came yesterday. And yet he apparently submitted his walking papers on July 26. Why did LookSmart delay such critical news for so long? And what does Hills know about today's earnings call that made him so reluctant to participate?