Brad Feld has a post about this article in Wired which led me to read it. It’s a critical account of how Yahoo lost the search advertising war to Google. Highly recommended.

From the article:

The problem, of course, is that better-late-than-never often fails in technology markets that operate as winner-take-all games. Just as Microsoft boxed out other operating systems in the 1980s and office software in the 1990s and eBay has largely outpaced other auction rivals, Google now dominates search-driven advertising.