NEW YORK (TheStreet) -- In the aftermath of Yahoo!'s (YHOO) weak earnings report, the tech geeks, Wall Street hacks and bean counters focused on all the wrong things. They disparaged Marissa Mayer for everything, but ultimately nothing at all because they lack the vision to acknowledge, let alone comprehend the brilliance she pulled off on the same day as the earnings release.
Yahoo! has gone big into live concert streaming via Yahoo! Screen.
(For background, see December 2013's Marissa Mayer's Biggest Game Changer Yet and the more recent Marissa Mayer Just Made Her Best Move Yet As Yahoo CEO from April 2014).
The first installment of what is a partnership with Live Nation Entertainment (LYV) kicked off with a live stream of a Dave Matthews Band show on the same day as the aforementioned lackluster earnings report. Maybe Yahoo! scheduled both events on the same day in an attempt to overshadow the poor results. Maybe it went down that way by chance. Either way, the fact that Yahoo! has taken the first large-scale, significant step into live concert streaming should have populated Yahoo! headlines last week. Not lamentations over weak display ads and how the company planned to handle the Alibaba IPO. But, yet again, Wall Street and the tech media failed you.
By and large, these groups prefer jaded cynicism over critical thought and a vision for how things might look beyond the most recent quarter. While many factors qualify Yahoo!'s live concert streaming foray as game changing, two stand out as particularly remarkable.