New Yahoo (s YHOO) CEO Marissa Mayer laid out her plans for the turnaround on Tuesday — vague plans at best — and the company is hiring a new chief financial officer, Ken Goldman, who is apparently acquisition minded. Yahoo certainly needs to graft outside talent but the question is if the graft will actually take.
“At Facebook and Google, they know your underwear size before you walk in the door. At Yahoo, it was clear they hadn’t even Googled me,” an entrepreneur who was in acquisition talks with Yahoo tells the New York Times.
I have heard variations of similar interactions from other people as well. That statement if anything reflects the fact that the rot inside Yahoo is so deep, so extensive and so cultural that it would take a divine intervention for the company to overcome its woes. Major and painful cuts won’t be enough and neither will be the acquisitions. As I said before, it is one stinky blivet! Wall Street, as usual, having no grasp on reality is expecting miracles.