One of the main reasons Yahoo declined is because it lost out to a powerful rival, Google, in online search; Marissa Mayer, its boss from 2012 until its sale to Verizon last year, was unable to restore advertisers’ or employees’ confidence as users left. Today there is no company that truly competes with Facebook’s suite of apps, partly because it has hoovered up competitors such as Instagram, the wildly successful photo app that is at the centre of its future plans.
But people who watched Yahoo’s collapse see ominous similarities. Executive turnover was a leading indicator of its decline; before Ms Mayer was hired it went through four chief executives in three years. Mr Zuckerberg, who controls the majority of Facebook’s voting shares, is not leaving, but many top executives are.