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by bkbleikamp 6614 days ago
People would have said the same thing in 2003-2004 if someone offered $16 a share for AAPL...now they'd look stupid.
3 comments

What about offering $24 in 1996?

http://www.sunworld.com/swol-01-1996/swol-01-apple.html

The board turned Sun down and then went out and paid $400 million to buy NeXT. For all intents and purposes, they paidf $400 million to buy an operating system, hire an OS team headed by Avie Trevanian, and oh yes, provide a nice signing bonus for their new part-time CEO, some guy named Steve.

Lots of shareholders grumbled.

Of course, that was Apple and this is Yahoo. I don't personally think Jerry has Steve's touch, but I sincerely hope he makes me look like the wrong end of an Equine.

What about offering $24 in 1996?

http://www.sunworld.com/swol-01-1996/swol-01-apple.html

The board turned Sun down and then went out and paid $400 million to buy NeXT. For all intents and purposes, they paidf $400 million to buy an operating system, hire an OS team headed by Avie Trevanian, and oh yes, provide a nice signing bonus for their new part-time CEO, some guy named Steve.

Lots of shareholders grumbled.

Of course, that was Apple and this is Yahoo. I don't personally think Jerry has Steve's touch, but I sincerely hope he makes me look like the wrong end of an Equine.

if yahoo! has a steve-jobs in the closet somewhere, it's about time he showed up...
Who's to say someone at Yahoo doesn't have the capability of coming up with the "next big thing?" Maybe the junior developer they hired last week will have a great idea tomorrow - you never know.

Steve Jobs came back in 1996 - it took 5 years for them to launch the iPod. It's anyone's guess where Yahoo will be in 5 years - maybe Jerry Yang will be looked at as a hero, maybe not. Predicting Yahoo's position five years from now is impossible.

If your business plan is "maybe one of us will turn out to be the next Steve Jobs," it may be better just to sell to MSFT ;)
Maybe the junior developer does have a great idea tomorrow - the question is, will anyone listen to him? Or will his small voice not be heard in a big company? It's not that they lack people who have the potential to do great things, it's the size/culture, the organization itself, which in (most) large corporations stifles new ideas and creativity.
radical changes will flow top down not bottom up. at least not in any organization of yahoo!'s size.
What do you suppose the size limit for a company is, for changes to flow from the bottom up?
This could be the wrong way of thinking about it.

Maybe radical changes can only start within a certain distance from the top, and as the company gets bigger, the bottom moves further away from the top and can no longer initiate those sorts of things. Just a thought.

Cofounder Jerry Yang is back as CEO.
Good one, but don't quit your day job.