Ya Hoo…Yahoo (go ahead and click on the link, there’s a reason for our request).

Well, that’s how we felt when we heard Yahoo CEO Jerry Yang was stepping down.

For many years now, there’s been only yin in this Yang. No Yang at all.

And that explains Yahoo’s downfall in recent years.

Yahoo made too many mistakes:
* not focusing on improving its search technology
* not buying Google when it may have had the opportunity
* Keeping that Hollywood guy Terry Semel for far too long
* missing deadlines on the Panama search advertising platform
* not hiring a real CEO after Semel’s departure
* not dumping the sucker on Microsoft when Steve Ballmer was dumb enough to offer $46 billion($33 a share)

Jerry Yang plans to stay on until a new CEO is hired.

Now here comes the scary part:

Having set Yahoo! on a new, more open path….I will continue to focus on global strategy and to do everything I can to help Yahoo! realize its full potential and enhance its leading culture of technology and product excellence and innovation.

– Jerry Yang

Haven’t you done enough damage over the last 18 months, Jerry.

You really want to focus on strategy?

Jerry, stay away from Yahoo unless you want to run that once-fine-company completely into the ground.

In any case, we think it’s highly unlikely Yahoo can be salvaged now barring some miracle.

It’s probably too late given Google’s commanding leadership in the search segment – both in terms of technology and on the advertising side.

In the early days, there were desis holding some key positions at Yahoo. We vaguely remember the person in charge of the Yahoo directory being a desi lady and subsequently there was also a desi VP of marketing.

But all that is history now as is Yahoo’s leadership in the Internet space.