Same as the reason for the failure of Upcoming (v1) and underperformance of Flickr: Yahoo & its frothy brew of money plus strategic blindness.
You might also throw the fate of ~pg's Viaweb, once it became Yahoo Stores, into that same class of fumbled opportunities. And so you can read Graham on Yahoo & get a good idea of the issues:
You might also throw the fate of ~pg's Viaweb, once it became Yahoo Stores, into that same class of fumbled opportunities. And so you can read Graham on Yahoo & get a good idea of the issues:
http://www.paulgraham.com/yahoo.html