While the thing you're responding to is obviously idiotic it occurs to me that the sanity of the valuation of Yahoo! is not "obvious" at all. It's a result of t

While the thing you're responding to is obviously idiotic it occurs to me that the sanity of the valuation of Yahoo! is not "obvious" at all. It's a result of the application of partially visible heuristics to determine the worth of things like users, views, "talent," and etc, all passed through back-room dealing at the executive level and bargaining behind closed doors. The reason I bother coming here to say this is that I think the idea that 4.8 billion dollars "makes sense" to an outsider is endemic of thinking that leads to a dangerous lack of regulation. In other words, I'd be careful not to assume that the left hand always knows what the right hand is doing in companies at this scale.