[ajhurliman]

Yahoo (they’re just a portfolio now right?)

[skmurphy]

Yahoo is a portfolio of brands. Compare https://www.yahooinc.com/our-brands with firms that manage investments:

https://www.bridgewater.com/

https://www.schwab.com/

https://www.blackstone.com/

https://www.sequoiacap.com/

Yahoo is managing web properties and is essentially a media company (is paid by advertisers or other customers to deliver a well-characterized audience).