The Peanut Butter Manifesto is a Yahoo! strategy memo spreading fear, uncertainty, and doubt about the company's ability to compete with Google when Yahoo spends so much energy competing with itself. It's almost sad, though:
There are three pillars to my plan:
1. Focus the vision.
2. Restore accountability and clarity of ownership.
3. Execute a radical reorganization.
All of which can be summarized as "Be a couple grad students with a computer, a couple thousand dollars in Angel capital, and a burning desire to take on the corporate goliaths of the world," because at this point, Yahoo! has too many constituencies to please and obligations to fulfill. If they try to get 'radical', they're going to have to remember what happens when the radical reformers inside a big Internet content company fail. Yahoo! needs to stop thinking like a startup, because startups think of Yahoo! as a target -- a small startup can afford to slash and burn a market, because getting 10% of an industry that's only 10% of what it used to be is still a homerun for the VCs and a great payoff for the startup; Yahoo! needs to make markets bigger and make customers loyal, and that means thinking like a consumer products company or a media company. If they're going to succeed, Peanut Butter Style is the way they'll do it.
(Also, don't miss this memo-to-the-memo-guy)