November 5th, 2008
Live: Jerry Yang at Web 2.0 Summit
Yahoo CEO Jerry Yang’s name popped in a number of headlines today, sparked by a rumor that his job may be on the line following Google’s announcement this morning that it was withdrawing from an ad deal with Yahoo. The company, of course, is denying the rumor. And then, of course, there’s the speculation about revived interest in Yahoo by 
Microsoft.
One of the reasons the rumor about Yang’s future with the company was quickly questioned was because of Yang’s scheduled appearance at the Web 2.0 Summit in San Francisco today (Techmeme). Yang is scheduled to speak soon. We’ll post live updates to this blog entry as Yang takes the stage.
4:59 p.m. The introduction starts off with the tough nine months Yang has had, highlighting the tough 24 hours that has stemmed from the rumors. There were even calls to Web 2.0 Summit organizers to see if he’d show up.
5:01 p.m. A packed room as Jerry takes the stage and has a seat. Question: Aside from Yahoo, how are things going? (laughter). Jerry’s reply: I certainly didn’t expect the year to be what it is, coming into it. I think what Yahoo been through in 2008 has been extraordinary. Next question: What happened with Microsoft deal? Why didn’t you take it? His reply: It’s something that everyone has asked. Idea of selling to Microsoft was something we knew about. To this day, I don’t think it’s a bad idea for Microsoft to buy Yahoo - at the right price. Circumstances we were involved in is that they walked away from public offer. We wanted to negotiate a deal. But it was not meant to be. Blame me. Blame Microsoft. But it wasn’t an ego issue for me.
5:06 p.m. Conversation shifts to deal with Google that fell through. What happened? Jerry: We were disappointed. We were in the process of talking with Department of Justice. We felt that Google didn’t want to stay in the deal. Thought it could have been a good deal but knew it would be scrutinized. I feel like there’s a conception that, because we didn’t have a Google deal, that we weren’t doing well in search. That’s not true. But why did Google pull out of the deal? You’d have to ask them. As for the government, I don’t think they understand our industry completely. I think the government’s definition of it is too narrow. I don’t agree but it is the government.
5:11 p.m. Looking back on how Yahoo evolved. Fast-forward to when you came back as CEO. Why come back and are you the right person for the job? His reply: I did not make decision to be CEO very lightly. In retrospect, with the company having gone through what it’s gone through, I don’t take it lightly. It’s a serious responsibility. I wanted to make the change at Yahoo that I thought i could make. We’re re-wiring Yahoo, turning it into a platform company. That was the dream I thought I could reach as CEO. Some of that was lost, shadowed by news. Feel like we’ve accomplished a lot.
5:15 p.m. Jerry says Yahoo is a consumer brand but acknowledges that there’s a long way to go and questions about what Yahoo is exactly - a portal or something else? Yahoo is being re-wired but it remains a strong consumer starting point, what the company is being built around. The conversation shifts to Yahoo’s open source strategies. He want developers to understand that developing for Yahoo is a different experience and shouldn’t be what’s being done at other Web companies. If look at search, this push is starting to change the way we view search. By opening up, Yahoo is changing the way people experience Yahoo and changing what it can deliver.
5:21 p.m. What is Yahoo trying to do with advertising? Jerry’s reply: I think advertising online is still relatively young. When we talk about our vision of advertising, we are one of the largest publishers out there. With the inventory we have and consumer experience we offer, it gives us a way of helping map that to advertising. There are better ways to tap value - by targeting, segmenting, with a focus on niche markets. An example: the partnerships with newspapers. We have seen significant interest from advertisers. Are there ways of helping advertisers to find a good buy for them - without having to go to individual sites? Yes. He sees Yahoo as a platform that could help advertisers.
5:28 p.m. When Jerry last spoke at Web 2.0 Summit three years ago, Yahoo had just bought Flickr and there was a feeling of rapid growth through acquisitions. Times have changed but is Yahoo still eyeing more companies? Jerry’s reply: Absolutely. It’s an important part of how the company grows and how it brings in new talent. Acquisitions aren’t always as high-profile as a Flickr. Maybe we should talk more about them.
5:34 p.m. Question: What can you tell us about Microsoft? Are you talking? Is there a deal coming? The quick answer: There’s no new news about Microsoft. Follow-up question: Are you buying AOL? (laughter from audience and Yang) The quicker answer: I cant talk about that.
Sam Diaz is a senior editor at ZDNet. See his full profile and disclosure of his industry affiliations.
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