Is It Worth What Someone MIGHT Pay For It?

Posted: May 13, 2008 in Technology and Business
By this time everyone in the entire world knows MSFT walked from the YHOO deal.
 
Remember the old saying, "it’s worth what someone will pay for it"?
 
YHOO is now stretching that concept… everyone is trying to figure out what it might be worth… which people peg to around $31-$33… since this was the last official and unofficial offer by MSFT.
 
Only, MSFT really, truly has pulled that offer off the table… which was crazy-high to begin with.
 
So, it’s curious why everyone thinks that that valuation still applies.
 
It’s even more curious why any serious new money would come in knowing the theoretical upside is only about 20%-30% — a lot of risk for not a lot of gain.
 
Entertaining, to be sure!
 
P.S.  I believe YHOO has value in the long-run.  In the short-run, well, it’s The House That Semel built.
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