Chapter 3 focuses on a small number of letters from Keats to his poet-friend John Hamilton Reynolds written in the first few months of their friendship, in late 1817 and early 1818. As aspiring young poets, Reynolds and Keats developed a close, competitive-collaborative friendship in which the exchange of letters played an important part. The chapter examines the ways in which some of the main tenets of Keats’s conceptual or theoretical sense of both letter-writing and literary criticism arose out of the interchange of letters with a poet with whom he actively collaborated. Through a reading of Keats’s commentary on the power of Shakespeare’s poems and plays, the chapter argues that letter-writing is intrinsically collaborative, and that in his letters to Reynolds, Keats also emphasizes the collaborative or corresponding quality of both literature and literary criticism.