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Glad I don’t work for a web2.0 startup

Sep 13 2021

So all y’all web startups looking to get your idea bought by Yahoo. You might want to start rethinking your business strategy.

NYT: Yahoo to Cut 1,000 Jobs, and Warns on Growth

Warns on growth is an understatement. As analyst George Askew of Stifel Nicolaus, says “We believe Yahoo! shares are stuck in purgatory for at least another two or three quarters…”

This is obviously tied with the larger economic downturn (ie. recession), and it signals that other parts of the internet sector will probably start to feel it as well. It’s too bad that uncov has called it quits — this is just the web2.0 bubble popping negativist news he’s good at being snarky about.

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