The Counterfactual · Decision Forks
The Most Expensive 'No' in Internet History: Why Yahoo Kept Passing on Google
Yahoo could have owned Google for a few billion, and could have sold itself to Microsoft for forty-four. It said no to both. The pattern wasn't bad luck — it was a company that never decided whether it was a media business or a technology one, and so undervalued the one thing that mattered.
7 min