There’s a lot to unpack in Yahoo’s reported $1.1 billion deal for Tumblr, but much of the reporting today is focused on the rather bland challenge of turning Tumblr into a profitable company. Forcing Tumblr to make money will eventually become an important mission for Yahoo, but for now it’s far from the point.
from Paul Smalera:
Forget Instagram’s billion-dollar payday. Forget IPOs, past and future, from Facebook, Groupon, LinkedIn and the like. And ignore, please, the online ramblings of attention-hungry venture capitalists and narcissistic Silicon Valley journalists with the off-putting habit of making their inside-baseball sound like the World Series. Their stories, to paraphrase Shakespeare, are tales told by idiots, full of sound and fury, but signifying very little about the impact of technology on most of our lives. (Sure, some of their tales are about great fortunes, but those are only for a select few; to summon the Oracle of Omaha rather than the Bard of Avon, only a fool ever equated price with value.) Their one-in-a-million windfalls are just flashes in the pan. Or, actually, they are solitary data points, meaningless when devoid of context.