A Quote by Ross Levinsohn
Very few companies can perform at scale over the course of decades, and Yahoo has done that.
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When e-commerce companies build scale, cost comes down. Companies that can handle scale and reduce costs over time will win. Margins will come from reducing costs over time and not by increasing prices. Technology is the answer at large scale.
I'm very grateful and proud of the progress Yahoo! has made over the past year. When I took the position as chairman, I told the board that my intention was to serve for one year in order to help Yahoo! during a critical time of transformation.
There is no real scientific debate over what is happening; of course there is debate over exactly how it is going to play out in the decades ahead, because this is a large experiment that we haven't done before, and no one knows precisely how one can ever precisely predict what effects this heat will have. But all the science in the last few years, or almost all of it, really serves to show that the effects are larger and more rapid than we had thought even a decade ago.
Well, it has done terrifying things. Religious ideas are inflammatory in a way that I find difficult to understand. There are very few wars over the theory of relativity. Very few heated arguments, for that matter. Whereas, in Northern Ireland, they are killing one another over religion.
I approached Yahoo as a learning experience. Everything at every stage of the game affects what you do next. At Yahoo, I learned a lot about social search and met a lot of amazing people - some are now entrepreneurs with companies I subsequently invested in.
Without mentioning names, it was other people. Some day, they ought to open the report and find out. But it was other people that knocked down the World Trade Center. So, it's no reason to go into a big - now. But it was a horrible mistake that unfortunately we should never have done it. We have lost trillions of dollars, thousands of lives, wounded warriors, who I love, all over the place. And here is the other part. Iran is taking over Iraq. They have wanted it for decades and decades and decades. They're taking it over.
If you ask the average guy on the street to name five companies that have truly transformed themselves over the few decades, Hewlett-Packard would be on everybody's list. You'd also put on this list GE and Johnson & Johnson.
A very few musicians passed across all decades. In terms of trumpet playing, Louis Armstrong does it of course but Sweets [Edison] is right up there too. He is unique, in every sense of the term.
The fake news is - I mean, as a tool of warfare - has been there for decades and decades and decades. It was never very well done until, really, the Ukraine, though I would say that the Russians used to complain about fake things to say the State Department.
We Greeks want change. We know there are problems in our system. We have great potential but we need to manage our country well. Now that hasn't been done over the last decades. And that is, of course, what we are paying for.
Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.
Well germ warfare of course exists. There have been on a small scale... There have been, of course, a few people who got killed with anthrax right here in Princeton.
There's been a lot companies that have shown "zero to one" kind of growth in the computer, internet software age. Facebook and Google are zero to one companies. Apple's iPhone was the first smartphone that really works, and of course, then you scale it horizontally, but the vertical component was really critical. Space X would also be one.
Civilization is very fragile, all it takes is a few decades of chaos for us to forget humanity and turn into animals. Our base natures can take over very fast. We can forget that we are sentient beings, with laws and codes and ethics.
When you look at what has happened over the last few decades the natural fluctuations point in the opposite direction of what has actually occurred. When they run the models and plug in the man-made pollution, the correspondence is exact. Beyond that, the scale of natural fluctuations has now been far exceeded by the impact of man-made global warming.
Yahoo is a battleship. If you've ever seen a battleship, they're gigantic, and Yahoo is gigantic in the terms of consumer Internet companies. To turn a battleship takes a long time, but once you turn that battle ship the right way, it's a battleship, and it can really inflict some damage on an enemy or competition.
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