Kara Swisher

Recent Posts by Kara Swisher

Yahoo's Stock Is Like a Falling Knife

And BoomTown has to wonder who is going to try to catch it without getting sliced and slashed.

As we noted earlier about Yahoo’s dicey situation, in a back-to-school post about what various Internet companies need to focus on in the months ahead:

Simply put, time is running out for the languid stylings of Yahoo management, whom I hope have been ferreting away since the controversial annual meeting at the start of August on a plan to jack up revenues and profitability, and pronto.

Unfortunately, many employees I have talked to recently still report a disturbing lack of urgency on the part of the company, whose stock has sat too close to $19 a share for too long now.”

Now, it is less than that as Yahoo (YHOO) shares have descended even lower, to close this afternoon at $18.75.

This chart from Yahoo Finance tells the tale clearer than I ever could. But if it keeps declining, there will surely be lots to talk about.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work