Economist: Jerry Yang Must Go

Jerry Yang, the early, heroic campus entrepreneur who founded Yahoo in 1994, has hit some very rough times that seem to be reaching a bottom? Of course, the end is always sad. Read the tale from the Economist:

The man whose big and lovable smile had once greeted millions of newcomers to the internet with “Jerry and David’s Guide to the World Wide Web” soon found himself testifying before Congress, with a grieving Chinese mother sitting behind him, about exactly what information Yahoo! had shared that had led to the jailing of two dissidents in China. Back at the office, Mr Yang had to deal with warring fiefs and bitter personal rivalries. Executives kept leaving, engineers were demoralised and innovative projects were put on hold.

Then, in February this year, Microsoft offered to buy Yahoo! for $33 a share. This could have put Mr Yang out of his misery. Microsoft, which owns a portal similar to Yahoo!’s and a search engine even further behind Google’s, wanted to combine forces to put up a better fight. Mr Yang said no. Several big shareholders revolted, but Mr Yang insisted that the price was too low. In the end, Microsoft gave up in frustration. “A lot of people have replayed that in their minds; I’m no exception,” Mr Yang said ruefully at the conference. With Yahoo!’s share price now at $12, he is eager to prove that he negotiated in good faith.

One thought on “Economist: Jerry Yang Must Go

  1. ‘Yang Must Go’ (http://www.yangmustgo.org) is attempting to rapidly organize a grass-roots shareholder effort to effect the resignation of Jerry Yang as CEO of Yahoo. If you are a Yahoo shareholder or employee, you have a direct financial interest in Yang’s departure, which will effect an immediate increase in share value. If you want to participate, please attend our first meeting at Jake’s restaurant in Sunnyvale, CA on Tuesday November 8th, 2008 at 6pm. The address is: 174 E Fremont Ave Sunnyvale, CA 94087(408) 720-8884 (Directions)

    Please wear as much purple as possible so we can recognize eachother. At this meeting, we should elect:

    -President/Spokesman

    -Treasurer

    -Webmaster

    -Volunteer Coordinator

    Hopefully, we will discuss:

    *Picketing Yahoo’s sunnyvale headquarters all day, every day.
    * Letter writing campaigns.
    * Media outreach.
    * Shareholder mobilization.
    * Avenues for litigation.
    * Online organizing.
    * Fundraising.
    * Preparations for the annual shareholders meeting.

    Please direct inquiries to yangmustgo@yahoo.com

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