The ever-mounting disarray at Yahoo, along with the not-so-far-behind-it disarray at AOL, is just another part of the long-in-coming conclusion that content doesn’t work as a business online.
“Content doesn’t work” means, in this context, that other businesses work better. It means you’re a goddamn palooka if you’re actually paying to create content when advertisers are just as happy with businesses fueled by cost-free user interactions. And yet, ultimately, everybody does embrace content.
Or, that is, mature technology businesses (Yahoo, AOL, Microsoft, and now Google) almost invariably come to content.