I Run Yahoo's Board, Marissa Runs the Company: Webb

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Aug. 21 (Bloomberg) -- Yahoo Chairman Maynard Webb discusses the best way to attract angel investors and his new role as Yahoo's chairman. He speaks with Emily Chang on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

We are back with yahoo chairman maynard webb in a segment we call "office hours." we are learning about the world of technology and investing.

You are an angel investor as well.

What is the best way for an entrepreneur to get your attention?

To be great and have a great team and idea.

I always look at the entrepreneur first and who they are and what they have done and how serious they are about trying to change the world.

What about people who do not have the network to get to you?

It is easy to get to me.

You go to that website and send in a submission.

Anybody can do that.

We try to invest only in areas that we know or have played around in.

That is a pretty broad set of things like cloud computing and mobile and internet.

We try to be focused only on technology.

People can send in ideas on other things, but it is probably not the best place to send it.

You are the best in the business when it comes to angel investing.

What is your advice to investors who want to get into this?

What kind of resources should they provide?

Should they be more hands on her hands off?

-- or hands off?

I think there are many good investors out there.

Getting money is pretty easy contrary to what it might seem.

You have to be careful of who you take money from and how engaged they want to be.

In some places they do not want to be engaged at all and other times they are way too engaged.

You have to take who you want and for what reason.

We give them advice for when they want it instead of telling them what to do.

We want to give help when they need it.

That is why i did 90 plus affiliates of seasoned executives -- added 90 plus affiliates of seasoned executives.

Some focus on the product and it is not focusing on the money.

At one point isn't focusing on the money and the business as well?

It really depends.

If your enterprise software versus a consumer play, in a consumer play, you might just be concerned about the traffic before you figure out how to make money.

You will finally make money if you are relevant.

In the enterprise play , you have got to figure out how much cash you need and how much you are burning.

It depends on which segment you're in.

Speaking of yahoo, now that you are chairman, i know you cannot say much.

[laughter] but i have to ask, what can you tell us about how you plan to execute in this role as chairman?

What are your plans?

You have spent many years in the world of technology.

That is a great question.

I really cannot comment.

Unfortunately, we have a firm policy of not going in public with any information of how we run the company.

I will say one thing, which i was not planning to say.

All right.

I'm not confused.

I run the board and marissa runs the company.

How do you balance each other out?

I think she is fabulous.

It is our job to take care of shareholders and make sure they are doing the right thing.

I will run the board and the support of the company and figure out how to help marissa get the company back on track.

Theoretically, you are the chairman of two boards.

What is the role of the chairman versus the ceo when there are two different people?

It is the chairman's role where all of the board members are elected by shareholders.

It is our job to make sure we understand what shareholders and employees want.

It is our job to make sure there is a ceo who is running all of the strategy and dated day of the company -- and day to day of the company and provide guidance . there is a ton of work we need to do outside of the day today running --to day -- to day running.

Yahoo has made a number of acquisitions.

Yahoo look at many, many companies is that they acquired a small number.

There is criticism some of the companies yahoo is buying really struggled or in some cases, failed.

How do you respond to that criticism?

If you cannot directly respond, how would you describe the acquisition strategy?

I will not describe yahoo's acquisitions or talk about any of the acquisitions.

I will talk in general as someone who has seen a ton of acquisitions over the years and lots of different companies.


there are many that work.

The board was very worried about paypal and ebay.

What was the board worried about?

It had a different culture.

Many of the top execs were not going to stay.

With a company that you have been fighting about for quite a while -- but it did all right.

When you are acquiring talent come and how do you make sure more people stay rather than go?

I think it is about the

This text has been automatically generated. It may not be 100% accurate.


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