Life lessons from Google and Yahoo
By Yinka Adeosun. Can you believe this – Google is a quarter of a century old. To think that 25 years ago, the journey to better connecting the world and create a product that has radically altered the way we live as humans. If you doubt me – just ask Google. Founded in 1998 by two Ph.D. Stanford University students named Larry Page and Sergey Brin, with the stated aim to “organize the world’s information and make it universally accessible and useful.”
Interestingly, during the period of its nascency, Google’s co-founders, oblivious of the giant that was in their start-up offered to sell the company to Yahoo for $1 million, but the giant Yahoo declined, considering it a bad investment. However, four years later, having realized Google’s growth, Yahoo attempted to buy the business for $3 billion, but its founders refused, as they had made significant progress. Little wonders and the inability of humans to see far ahead into the future? I am tempted to ask, who still uses Yahoo? And in a clime like ours, Yahoo even has a certain negative connotation.
By 2014, the ubiquitous tech company was valued at $395 billion, while Yahoo was worth a paltry $39 billion, illustrating the enormous gap in their fortunes. How time flies! Today the American company is worth $1663 billion, which is the value of the Gross Domestic Product of many African countries put together. Today, a Nigerian, Alex Okosi, is the Managing Director (MD) for Google in Africa. He says, “I’m a firm believer in the potential for technology and, in particular, the internet to improve people’s lives and to help individuals and businesses in Africa thrive.”
From search queries to email communication, mapping to mobile operating systems, and voice assistants to AI advancements, Google’s journey has been one of continuous evolution, innovation, and global impact.
Can you just imagine what might have happened if Yahoo had purchased Google for $1 million in 1998. The story of Google and Yahoo offers several moral and inspirational lessons as highlighted below:
Vision and Persistence: Google’s co-founders had a vision for their company, even when they were not making a profit at the initial stage. Their persistence in the pursuit of their goals, ultimately led to their success. This teaches us the importance of having a clear vision and not giving up in the face of early challenges.
Belief in Your Ideas: Google’s founders believed in their product and its potential, even when others did not. They did not sell out early for a quick profit. This illustrates the importance of believing in your ideas and having confidence in your abilities.
Resilience: At first, Google faced rejection from Yahoo, but they did not let this discourage them. Instead, they continued to work hard to build their company. Not all rejections are evil after all. Some rejections are just offering you another solution to explore. It also demonstrates the value of resilience in the face of setbacks.
Long-Term Thinking: Yahoo’s decision not to buy Google for $1 million was a short-sighted one. They didn’t see any potential in the budding company. This highlights the importance of long-term thinking and considering the potential future value of an investment, rather than focusing solely on immediate gains. Have you ever imagined yourself in the desired future where you feature?
Adaptability: Google’s founders were willing to adapt and change their strategy as they made progress. This adaptability and willingness to evolve with the times contributed to their continued success. Don’t be rigid. Understand the times and adapt accordingly.
Value of Timing: Timing is crucial in business. Yahoo’s offer of $3 billion in 2002 was too late, as Google had already established itself as a foremost player in the tech industry. This emphasizes the importance of seizing opportunities when they arise. Even when they don’t look like it, never underestimate small opportunities.
Learning from Mistakes: Yahoo’s decision not to buy Google in 1998 can be seen as a missed opportunity. It’s a reminder that we should learn from our mistakes and missed opportunities and be open to reevaluating our decisions. Have you made a mistake? It’s in your past. Leave it behind you, and forge ahead
Never Underestimate Potential: Yahoo’s initial dismissal of Google as a bad investment for $1 million serves as a powerful reminder not to underestimate the potential of emerging technologies or ideas. We are in the world of technology. If you can’t boast of any technology skills, it is not too late to acquire one now!
In essence, this story teaches us to have faith in our own goals, be strong in the face of challenges, have a long-term perspective, and be open to new opportunities and adaptability. It also serves as a warning about the repercussions of making short-sighted decisions in business and the possible implications of missed opportunities. Don’t be scammed. You’d better Google it, or you’ll be a victim of the merciless Yahoo boy!
