I’ve heard many stories about Steve Jobs giving advice to other business executives, but in light of Yahoo!’s slow decline, I thought this passage from Inside Apple was particularly insightful. His advice to Yahoo!:
“Just pick one thing you can do that’s great. We knew it was the Mac.”
Jobs then treated Yang and his executives to some Apple-style honesty. “Yahoo! seems interesting,” he said. “Yahoo! can be anything you want. Seriously. You have talented people and more money than you could possibly need,” he continued. “I can’t figure it out, though, if you’re a content company or a technology company. Just pick one. I know which I’d pick.” Said a former Yahoo! executive who was in the room: “It was humiliating. We knew he was right. But we also knew we were incapable of choosing.”
Also probably worth watching: this video on YouTube in which Steve introduces the Think Different campaign to the world.