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Eric Jackson's Blog About Longs, Shorts, Hedge Funds, Corporate Governance, and China
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Labels: corpgov, Corporate Governance, Facebook, FB, GOOG, Google, Larry Page, Mark Zuckerberg
I think the honeymoon with Yahoo! (YHOO) CEO Scott Thompson is over after last night’s performance on the earnings call. It’s been a good 90 day run, but it’s over now. Back to work, Scott. Time to stop talking and start delivering.
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April 18 (Bloomberg) – Eric Jackson, president and founder of Ironfire Capital LLC, talks about Yahoo! Inc.'s first-quarter sales and company outlook. Revenue, excluding sales passed on to partner sites, rose 1 percent to $1.08 billion, Sunnyvale, California-based Yahoo said in a statement yesterday. Jackson speaks with Betty Liu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)
[Long YHOO]
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11:55 AM
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Labels: Alibaba Group, Dan Loeb, Eric Jackson, Scott Thompson, Yahoo, YHOO
My hit from earlier today talking about Yahoo! and why Google is like Microsoft in 1999
[Long YHOO and AAPL]
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2:24 PM
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Labels: CNBC, Dan Loeb, Eric Jackson, Fast Money, GOOG, Google, Ironfire, Microsoft, MSFT, Scott Thompson, Yahoo, YHOO
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4:20 PM
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Labels: Bill Gates, GOOG, Google, Larry Page, Microsoft, MSFT, Sergey Brin, Steve Ballmer
Tomorrow, Yahoo! (YHOO) will announce its latest quarterly earnings. Presumably new CEO, Scott Thompson, will finally unveil some of the details behind his new strategy for turning around the core business of the Internet pioneer.
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4:17 PM
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Labels: Dan Loeb, Scott Thompson, Third Point, Yahoo, YHOO
Here's why the anti-shareholder governance structure of Google has led to a flat share price in the last 5 years and no "innovations" to show for it.
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10:31 AM
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Labels: Goggles, GOOG, Google, Governance, Larry Page, Sergey Brin
April 12 (Bloomberg) -- Eric Jackson, president and founder of Ironfire Capital LLC, talks about Google Inc.'s first-quarter profit that topped analysts' estimates. Jackson speaks with Adam Johnson, Deirdre Bolton and Jon Erlichman on Bloomberg Television's "Street Smart." Howard Ward, portfolio manager at Gamco Investors Inc., also speaks. (Source: Bloomberg)
[I don't own GOOG]
Here are all the ways that Yahoo! and Scott Thompson are being hypocritical and disingenuous in not inviting Dan Loeb to join the board immediately.
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10:44 AM
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Labels: Carl Icahn, Dan Loeb, hypocrites, Roy Bostock, Scott Thompson, Yahoo, YHOO
My CNBC appearance from earlier this afternoon discussing activist investors and Yahoo!
[Long YHOO]
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5:28 PM
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Labels: Bill Ackman, CNBC, Dan Loeb, David Einhorn, Eric Jackson, maria Bartiromo, Starboard
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12:18 PM
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Labels: Dan Loeb, Eric Jackson, Ironfire Capital, Scott Thompson, Yahoo, YHOO
The world has lost a giant in Mike Wallace. He was fearless. Let's hope we can all learn from how he lived his life to improve our own.
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Sarah Lacy recently attacked Andrew Ross Sorkin for being too "Wall Street-minded" in attacking the JOBS Act and Groupon. Here's why they're both wrong and why Lacy needs to be less "Silicon Valley-minded."
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4:15 PM
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Labels: AAPL, Andrew Ross Sorkin, Apple, Bill Gurley, Chris Dixon, Chrystia Freeland, Felix Salmon, GOOG, Google, Groupon, GRPN, NY Times, Pando Daily, Sarah Lacy
Today's 2000 job cuts at Yahoo! are a necessary first step. If any buyer is going to buy the company longer-term, they need to cut more and also present more clarity around their Alibaba stake.
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This is a presentation from March 15th at the Apple Investor Conference in LA about the next growth areas for Apple. It led to a later Forbes article I wrote on why I think Apple’s stock is going to $1,650 by the end of 2015. I don’t think Apple can keep growing at 90% a year, but 60% seems doable.
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12:08 PM
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Labels: AAPL, Apple, Apple Investor Summit, Eric Jackson, iPad, iPhone, iTouch, iTunes, iTV, LA
Ironfire Capital founder Eric Jackson on why he predicts Apple could rise to more than $1,600 a share by 2015.
[Long AAPL]
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10:42 AM
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Labels: AAPL, Apple, Eric Jackson, Fox Business, Neil Cavuto
Eric Jackson, president and founder of Ironfire Capital LLC, talks about the outlook for Research In Motion Ltd. and the company's stock. Jackson speaks with Betty Liu and Sheila Dharmarajan on Bloomberg Television's "In the Loop." (Source: Bloomberg)
[No positions]
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1:06 PM
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Labels: Amazon, AMZN, Betty Liu, Bloomberg, Eric Jackson, RIM, RIMM
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11:14 AM
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Labels: Amazon, Jeff Bezos, Microsoft, Nokia, Research in Motion, Stephen Elop, Steve Ballmer, Thorsten Heins
NEW YORK (TheStreet) -- After the all-stock merger between Youku(YOKU_) andTudou(TUDO_) a couple of weeks ago, Youku's stock has receded from the $32 levels it hit the day of the deal announcement.
The stock is now back down at the $24 level -- and actually less than where it traded before the deal was publicized.
Read the full post in TheStreet
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3:34 PM
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Labels: AAPL, Andy Bell, Apple, BNN, Kim Parlee, Prem Watsa, RIM, RIMM, Thorsten Heins
Here's my appearance from earlier today on Bloomberg TV's Money Moves with Trish Regan:
[Long YHOO, AAPL, and YOKU]
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3:27 PM
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Labels: AAPL, Apple, Bloomberg, Dan Loeb, Money Moves, Scott Thompson, Stocks, Trish Regan, TUDO, Tudou, Yahoo, YHOO, YOKU, Youku
Here's my CNBC appearance from earlier today on why I think Apple's going a lot higher by 2015.
Think $600 is amazing? Think different. Apple's stock will hit $1,650 before the end of 2015. Here's why.
Read the full post on Forbes
NEW YORK (TheStreet) -- Last week, in the middle of its IPO quiet period, Facebook chief operating officer Sheryl Sandberg came to Madison Avenue to try and convince advertisers to think different about ads on Facebook versus other places.
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7:27 AM
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Labels: ads, advertising, AOL, Display Ads, Facebook, FB, GOOG, Google, Sheryl Sandberg, Yahoo, YHOO
Yahoo!'s stake in Alibaba Group alone is worth at least $23 billion judging by its growth compared to Facebook's. Yet, Yahoo!'s total market cap is below $18 billion.
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10:36 AM
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Labels: Alibaba Group, Jack Ma, Scott Thompson, Tim Morse, Yahoo, YHOO
Yahoo! needs to think about that question before agreeing on a patent deal with Facebook.
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Yahoo! isn't the first Silicon Valley company to assert its patents against others. Steve Jobs did it to Microsoft back in 1997.
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Facebook needs to bulk up to kill Google. Once they go public, watch for them to seriously consider buying Nokia or Yahoo! -- with a little help from their big brother Microsoft.
Read the full post on Forbes.
Google has a number of amazing strengths. But why does it struggle building great consumer products?
Read the full post in TheStreet
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10:23 AM
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Labels: consumer products, Gmail, GOOG, Google, Microsoft, MSFT, YouTube
The clubby tech bloggers of Silicon Valley have decided to be Facebook's bitch and yell and scream at Yahoo! for protecting its intellectual property. If they're so apoplectic, why do they never say boo about Apple and Google protecting their IP?
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Yahoo! has thrown down the gloves to attack Facebook's violation of 10 - 20 of its key patents. It could set off a flurry of activity around Yahoo!
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Yahoo! has a treasure trove of unique assets that could be used well competitively by Apple if it bought the Web company.
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11:41 AM
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Labels: AAPL, Apple, Eddy Cue, IntoNow, patents, Scott Forstall, Scott Thompson, search, Tim Cook, Yahoo, YHOO
Did Mike Lazaridis try to push out Jim Balsillie from RIM last year? Did the board placate him with a more senior position in the new Thorsten Heins era? We may never know.
Read the full article in TheStreet
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9:02 AM
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Labels: Barbara Stymiest, Jim Balsillie, Mike Lazaridis, Research in Motion, RIM, RIMM, Roger Martin, Thorsten Heins
It turns out that the architect of Lin-sanity - Glen Grunwald - has a lot of parallels in his career with Jeremy Lin.
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3:54 PM
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Labels: Glen Grunwald, James Dolan, Jeremy Lin, Knicks, linsanity, MSG
Why Roger Martin's feisty defense of RIM over the weekend was pompous, simple-minded, and hypocritical.
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8:33 AM
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Labels: Globe and Mail, Institute of Corporate Directors, Jim Balsillie, Mike Lazaridis, Proctor, Research in Motion, RIM, RIMM, Roger Martin, Rotman School
Jeremy Lin is not only a great NBA story but a great story about how we should all approach our work.
Read the Forbes post here
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3:50 PM
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Labels: Harvard, Jeremy Lin, Life lessons, New York Knicks
Which CEOs would be in the Hall of Shame for exhibiting the 7 Habits of Spectacularly Unsuccessful CEOs?
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9:46 AM
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Labels: Carol Bartz, CSCO, eBay, Jeffrey Katzenberg, Jim Balsillie, John Chambers, Meg Whitman, Michael Eisner, Mike Lazaridis, RIMM, YHOO
Here's my appearance on Bloomberg from this morning discussing the board shake-up at Yahoo!
For Facebook, which will carry a ticker symbol of FB, to receive a $100 billion valuation when it makes its IPO debut, investors will have to make a lot of assumptions about their future growth.
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Facebook is deliberately puffing up its monthly active users by using a broad definition. It's par for the course in the social media world.
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9:08 AM
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Labels: Andrew Ross Sorkin, ANGI, Facebook, FB, GRPN, LinkedIn, LNKD, user numbers, ZNGA
Yahoo! isn't loved by many on Wall Street, but it's currently a $1 billion + position at Dan Loeb's $8 billion firm.
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4:19 PM
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Labels: Dan Loeb, Jerry Yang, Roy Bostock, Third Point, Yahoo, YHOO
The best Super Bowl ad from last night - which was only shown in Canada.
Full post in Forbes here
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12:14 PM
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Labels: Ad Bowl, Budweiser, Canada, Grab Some Buds, Hockey, Super Bowl
Why your company needs a Leadership Funnel and how to implement one.
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12:04 PM
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Labels: CEO leadership, Disney, Leadership Funnel, Michael Eisner, Michael Ovitz, Succession Planning
"The Hacker Way" is all about meritocracy at Facebook. Yet, Zuckerberg took every step to ensure he'll control the company with an iron fist forever.
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9:47 AM
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Labels: Corporate Governance, Facebook, FB, IPO, Mark Zuckerberg, The Hacker Way
Mobile is one of Facebook's biggest risk factors, but the company doesn't seem to have worked much on it in the last year going by their apps.
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1:15 PM
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Facebook's hype is other-worldly, but its actual growth is good but not super-human.
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How Mark Zuckerberg's Gen Y status has shaped the company that Facebook is.
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8:16 AM
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Labels: AAPL, Apple, Baby Boomers, Facebook, FB, Gen X, Gen Y, GOOG, Larry Page, Mark Zuckerberg, Microsoft
Jan. 31 (Bloomberg) — Eric Jackson, president and founder of Ironfire Capital LLC, talks about the outlook for Facebook Inc.’s planned initial public offering, share price and valuation. He speaks with Lisa Murphy on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)
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12:45 PM
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Labels: AAPL, Apple, Gil Amelio, Jim Balsillie, John Sculley, Mike Lazaridis, Research in Motion, RIM, RIMM, Steve Jobs, Walter Isaacson, Wozniak
Twitter is celebrated as a big social media success. The reality is that its current revenues suck.
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10:22 AM
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Labels: Bill Gates, Dick Costelo, Facebook, FB, Jack Dorsey, Steve Jobs, Twitter
NEW YORK (TheStreet) -- Facebook's planned initial public offering is the talk of the business media these days.
Everyone is swooning over how big it will be, how many millionaires it will create and how Facebook might continue to grow after its IPO.
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8:12 AM
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Labels: Facebook, Google, Motorola Mobility, Patent War, patents, Yahoo
My appearance on Bloomberg yesterday pre-Apple and Yahoo! earnings.
Watch the full video on Forbes
This might go down as one of the greatest exchanges at a shareholders' meeting in history. From the Yahoo! meeting last June.
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3:44 PM
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Labels: Carol Bartz, John Malone, Roy Bostock, Yahoo, YHOO
The biggest impediment to Yahoo!'s success in the last 4 years has been Roy Bostock - not Jerry Yang. Hopefully, Roy will soon be gone as Chairman. Here's a summary of his ridiculous statements over the years.
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3:11 PM
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Labels: Arthur Kern, Gary Wilson, Jerry Yang, Roy Bostock, Scott Thompson, VJ Joshi, Yahoo, YHOO
The core business which accounts for 96% of Google's business is slowing. But the management team doesn't want you to know that.
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11:39 AM
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Labels: GOOG, Google, Larry Page, Nikesh Arora, Patrick Pichette, Susan Wojcicki
People love to hate on Yahoo! and Jerry Yang, but they're conveniently forgetting some important facts as they dance on his grave.
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Here's a Top Ten list of what not to do as a boss, if you want to keep great people around you.
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11:26 AM
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Labels: AAPL, Apple, motivation, retention, RIM, RIMM, selection, top talent, Yahoo, YHOO
Here's what to expect next from Yahoo!
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Ten sure-fire ways to turnaround a dysfunctional team you've just taken over
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The late 90s were a blast. The first tech bubble was one of the biggest parties of all time. Here's what you missed.
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The HP board in 2012 is just as dysfunctional as it was in 2006. Here's a reflection of how bad they were back then.
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1:58 PM
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Labels: Board, HP, HPQ, John Hammergren, Larry Babbio, Leo Apotheker, Mark Hurd, Sari Baldauf
Hulu tried to pump up its 2011 results in a blog post yesterday. They're not very exciting.
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12:33 PM
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Labels: Amazon, Apple, Apple TV, Disney, Hulu, Hulu Plus, Jason Kilar, Yahoo
Although the grass always looks greener, sometimes you're better off sticking it out at a big company over a start-up.
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12:47 PM
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Labels: Bradley Horowitz, Facebook, Google, Motivating Talent, Talent Management
Whether you're an employee, an investor, or a CEO yourself, you need to read about these 2 recent academic studies of how and why Narcissistic CEOs can kill their companies.
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11:45 AM
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Labels: AAPL, Carly Fiorina, CSCO, eBay, HPQ, John Chambers, John Thain, narcissist, Narcissistic CEO, Steve Jobs
NEW YORK (TheStreet) -- Late Friday, after the market closed, Motorola Mobility(MMI_)sent out an innocuous-sounding press release with a "Business Update" in the title.
The release ended up tanking Google's(GOOG_)stock by more than 4% on Monday and the sell-off continued on Tuesday, even after the market bounced out of the gates.
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The next 6 weeks should hold a lot of drama for Yahoo!, as we see its board try and make the case why they shouldn't be thrown out.
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2:56 PM
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Labels: Cash-Rich Split, CEO, Dan Loeb, PayPal, Scott Thompson, Yahoo
Performance reviews are almost always painful experiences for those giving and receiving them. Here are the 10 biggest mistakes that are made.
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10:07 AM
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Labels: Employee Motivation, Performance Management, Performance Reviews, Steve Jobs
My chat with Erik Schatzker and Scarlet Fu from this morning about Yahoo!'s new CEO and their dysfunctional board:
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9:29 AM
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Labels: Proxy Fight, Roy Bostock, Scott Thompson, Yahoo, YHOO
NEW YORK (TheStreet) -- Most believe the stock/business story of 2012 is going to beFacebook -- specifically its rumored IPO which should come before the middle of the year. That's probably true. Yet, ironically, 2012 is also the year in which you need to protect yourself from other falling social media IPOs.
NEW YORK (RealMoney) -- Former eBay(EBAY_)PayPal President Scott Thompson wasn't on anyone's short-list of possible next CEOs for Yahoo!(YHOO_). The stock immediately traded down this morning on the news and then further declined during the conference call introducing him when Chairman Roy Bostock clumsily announced there would be no way that Yahoo! would be taken private.
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My appearance on Bloomberg West last night:
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3:17 PM
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Labels: Barbara Stymiest, Corporate Governance, Jim Balsillie, Mike Lazaridis, RIM, RIMM
If you exhibit several of these traits, now is the time to stamp them out from your repertoire. If your boss or several senior executives at your company exhibit several of these traits, now is the time to start looking for a new job.
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10:51 AM
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Labels: Amazon, Apple, CEO, Dennis Kozlowski, Google, Sydney Finkelstein, Why Smart Executives Fail
Don't listen to the Business Insider worry-warts: Cash-rich split, here we come. Good news for Yahoo! longs.
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3:09 PM
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Labels: Alibaba Group, Cash-Rich Split, Softbank, Yahoo, YHOO
Microsoft might give up MSN to get a piece of Alibaba Group and/or Yahoo!, as part of a cash-rich split
Wednesday's news that Yahoo!'s (YHOO_) board is considering two separate "cash-rich splits" of their stakes in Alibaba Group and Yahoo! Japan is great news for Yahoo! longs.
Read the full post in TheStreet
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11:02 AM
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Labels: Alibaba Group, Cash-Rich Split, Jack Ma, Jerry Yang, Masa Son, Softbank, Yahoo, YHOO
Many private equity firms sizing up Yahoo!'s core business believe they could fire 50 - 75% of the headcount with no material impact on revenues. Yet, they are not willing to pay Yahoo! long shareholders the proper multiple based on that "go forward" EBITDA number.
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10:10 AM
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Labels: AOL, Bain, Blackstone, BX, IAC, IACI, Silver Lake, TPG, Yahoo, YHOO
I have a long memory and I remember exactly what Yahoo!'s board promised in 2009 with the Microsoft search deal and how they've failed to deliver. Why should they be trusted now?
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1:37 PM
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Labels: 2009, Microsoft, MSFT, Roy Bostock, Search deal, Yahoo, YHOO
Best Jim Balsillie quote ever contained within....
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10:58 AM
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Labels: CEO arrogance, Jim Balsillie, Mike Lazardis, Research in Motion, RIM, RIMM
It's hard to keep your best talent in your organization. Here are some suggestions on how to do it.
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We assume that Madison Avenue will eventually spend more on Internet and Mobile ads to match the time we spend online. What if they don't and they have their reasons?
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My appearance from earlier today on Bloomberg TV
Marc Andreessen's blog post today, likely means that Blackstone and Bain Capital are in the lead for Yahoo!
Read the full post at Forbes
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2:39 PM
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Labels: Alibaba, Bain Capital, Blackstone, BX, Marc Andreessen, Yahoo, YHOO
Here is one critical aspect of a Yahoo! cash-rich split that could unlock $20 billion in value that has been overlooked in all the coverage of Yahoo!
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1:17 PM
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Labels: Alibaba Group, Bain, Blackston, Silver Lake, Yahoo, Yahoo Japan, YHOO
Google left China 18 months ago. It's still the country's 3rd biggest ad revenue generator.
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Will Yahoo! get a do-over to extract maximum value from Facebook prior to its IPO, as it should have down with Google 7 years ago?
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1:08 PM
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Labels: Apple, Facebook, Google, IPO, Marc Andreessen, Patent War, patents, Peter Thiel, Reid Hoffman, Yahoo
Over the years, the greatest merchant ever has revealed a few things he's learned from Apple by serving on its board since 1999.
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12:14 PM
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Labels: AAPL, Apple, Charlie Rose, GOOG, Google, J. Crew Group, Mickey Drexler, Steve Jobs, Talent
Zynga's valuation has dropped 65% in 4 days. It deserves to keep dropping.
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RIM says it won't make its previously lowered full-year guidance. That's not a shocker but it just shows how bad these co-CEOs are at predicting the future.
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9:23 AM
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Labels: BlackBerry, Jim Balsillie, Mike Lazaridis, PlayBook, Research in Motion, RIM, RIMM