In the most recent shareholder letter Daniel Loeb talks about interesting investments in Unicredit and Yahoo. Loeb’s involvement is certainly a positive for Yahoo as we have long argued that the sum of the parts is worth far greater than the current price. Scott Thompson seems to be the man for the job and I think his strategy of suing Facebook is the right thing to do for shareholders.
I understand that it is an unwritten rule in Silicon Valley for internet companies not to sue each other over patents, but as industries grow, so do these rules. I could think of a lot of great business ideas if it was okay for me to rip off patents without the risk of being sued. Scott Thompson needs to demonstrate a clear vision, articulate that vision to employees and shareholders, and follow through with what he says he is going to do. The Asian assets should be dealt with when they get a suitable offer from them, but he needs to deal from a position of strength so it’s not something that can be rushed.