Sumner Redstone: Internet Money
on Wednesday, August 12, 2020Sumner Redstone Money Quote saying As CEO of CBS/Viacom that even though the internet is a money-maker, they weren’t considering acquiring Yahoo!. Sumner Redstone said:
“The Internet is a powerful way to make lots of money, But we are not going to buy Yahoo!” — Sumner Redstone
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This quote from media mogul Sumner Redstone suggests that while the internet presented great financial opportunities in its early days, his company chose not to acquire Yahoo! specifically. The best interpretation is that just because something has potential to generate revenue, does not necessarily mean it aligns with a company’s long-term strategic vision or strengths.
Strictly prioritizing profit over strategic fit could undermine core business goals. All opportunities, even very lucrative ones, require careful consideration beyond money alone to determine the best path forward. This quote serves as a reminder of the importance for companies to have discerning decision-making beyond short-term monetary gains.