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  • Twenty years later, the core of Yahoo is still the same. We are driven by the same purpose—to be your guide around the web. You may not know how much you motivate us every day by using our products and sharing your ideas, but you do. Thank you.

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Twenty years later, the core of Yahoo is still the same. We are driven by the same purpose—to be your guide around the web. You may not know how much you motivate us every day by using our products and sharing your ideas, but you do. Thank you.

There are exceptional loyalties and there are old fashion ideas about how you get loyalties, and after all the auditorium is full of people who have co-owned shares with the managers for many decades, and in many cases they co-invested when everyone was young and obscure. Also when you come back to a place like that you are celebrating old loyalties, and of course the basic idea behind so much of Berkshire is the old fashioned idea that the best way to get loyalty is to deserve loyalty.

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