[nostrademons]

Yahoo? After Semel took over, they were explicitly organized as a media company, with a CEO who had deep experience in the media industry, managers coming from other media companies, and a sidelining of much of the original technical talent.

As a result, they completely missed that the continued growth of the Internet would make hand-curated approaches infeasible. And so they got their lunch eaten by Google. And then they started losing traffic on other properties to Google, who could leverage their massive technological infrastructure that Yahoo had largely copied and open-sourced but wasn't really integrating into their product design. Eventually they brought in an ex-Googler as CEO who tried to stem the tide and re-emphasize Yahoo's technical capabilities, but she was 10 years too late and fighting a whole culture by then.