Levchin's resignation from Yahoo's board is a big, sad, screaming sign that the company has given up on innovation
Yesterday, the Wall Street Journal reported that Max Levchin has resigned from the Yahoo board.
In resigning, Mr. Levchin cited other professional demands on his time. In May, his online-lending startup Affirm said it raised $275 million as part of its expansion plans. (He’s been called a serial entrepreneur and adviser, with past involvement at Yelp Inc. and Evernote Corp., among other companies.)
In a filing with the Securities and Exchange Commission, Yahoo said Mr. Levchin’s departure wasn’t due to any disagreement with the company’s policies. He later tweeted that he is still supports Yahoo and Ms. Mayer.
The reality: Levchin’s resignation is a big, sad, screaming sign that the company is giving up on anything remotely innovative or product driven -- you know, all the reasons Marissa Mayer was hired and someone like Levchin was recruited to the board.
This seems like a good time to look back at the feisty debate Levchin and I had about the odds of Mayer turning around the company. Here’s the clip, taking from Levchin’s Pandomonthly interview: