People would have said the same thing in 2003-2004 if someone offered $16 a share for AAPL...now they'd look stupid.
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.
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.
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.
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.