kjh1 writes "Paul Graham writes about what he felt went wrong at Yahoo. He has first-hand experience — his company, Viaweb, was bought by Yahoo and he worked there for a while.
In a nutshell, he felt that Yahoo was too conflicted about whether they were a technology company or a media company. This in part led to hiring bad programmers, or at least not going single-mindedly after the very best ones. They also lacked the 'hacker' culture that Google and Facebook still seem to have, and that is found in many startup tech companies."
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