The buy case for Yahoo

A Note from Pogue — Goodbye—and Hello.

Now, listen: I realize that Yahoo is an underdog. I’ve given them a few swift kicks myself over the years.

But over the last few months, as I’ve pondered this offer, I’ve visited Yahoo headquarters. I’ve spent a lot of time with its executives. And what I found surprised me.

This is a company that’s young, revitalized, aggressive — and, under Marissa Mayer’s leadership, razor-focused, for the first time in years. Since she took over a year ago, Yahoo has regained its position as the #1 most visited Web site on earth. She’s overseen brilliant overhauls of several Yahoo sites and apps, and had the courage to shut down the derelict ones.

Above all, she’s created a “try stuff” atmosphere. She calls Yahoo “the world’s biggest startup.” People can really make a difference there. Yahoo is getting 12,000 résumés a week from would-be employees. Clearly, underdog status can be an incredibly motivating force. And for people who like to create cool new stuff — I’m among them — working to build the new Yahoo is a very attractive proposition.

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