We think Mark Zuckerberg is a genius for turning down an offer to sell Facebook to Yahoo.
But people criticize Yahoo with as much passion for turning down its own buyout offer from Microsoft.
What is the lesson for entrepreneurs here?
There is none. Both decisions were in such different contexts so as to be virtually random.
But hindsight will make you think you can find the lessons.
So you’ll try to draw lessons to apply in business going forward.
And you’ll make decisions based on flawed assumptions.
And you may fail.
Avoid the temptations of hindsight.
Rather focus on today.