Combining the premium content and reach of Yahoo! as the world's leading digital media company with Facebook provides branded advertisers with unmatched opportunity.
I worked at CBS in the late '90s, and I remember sitting in meetings with both advertisers and digerati, and everyone was saying, 'Network TV is dead.'
My concern is the really great concepts that are features, not companies. There isn't enough advertising to support all those features, and in compression times, advertisers tend to flock to safe names and sites that have real traction.
There are a lot of good ideas that could benefit from big media. You have a lot of companies that hit a wall and can't get beyond a certain level. They need the infrastructure and distribution of a large company.
Yahoo is still in many ways the definitive brand of the consumer Internet, but I don't think they can or should compete with Google any longer. That game is over.
Yahoo! has clearly established itself as the go-to destination for big events and breaking news, and we are focused on providing the best digital canvas for the world's greatest storytellers to create, develop and showcase their visions.
You can't manage Wall Street. Wall Street has its own viewpoints on everything. I have always believed, if you manage your business correctly, Wall Street will take care of itself.
Zefr has all the ingredients for success - dynamic, inspiring management, the ability to marry technology and content, and a business model that can scale. I'm thrilled to be part of the team.
Partnering with CNBC will allow Yahoo! Finance to expand its offerings instantly and enhance its position as the most viewed and utilized finance site in the world.
