PC World...

......has a good post up today titled, "The 10 Stupidest Tech Company Blunders."  It includes quotes like, "This iPod thing will never catch on..."  (Reminds me of all the record companies who turned down the Beatles...) Here's their #1 example ...

     1. Yahoo Loses Facebook

      In 2006, Facebook was a two-year-old social network that most people thought of as a digital playground for Ivy League brats. In the world of social networks, MySpace's 100 million members totally swamped Facebook's 8    million. So when Yahoo offered to buy Mark Zuckerberg's baby for a cool $1 billion--nearly twice what Rupert Murdoch had spent for MySpace in 2005--people said, "Take the money and run, Mark." In fact, the then-23-year-old and Yahoo shook hands on a deal in June 2006.

     Then Yahoo posted some bad financials, and its stock dropped 22 percent overnight. Yahoo's CEO at the time, Terry Semel, reacted by cutting the purchase offer to $800 million. Zuckerberg balked. Two months later Semel re-upped the offer to $1 billion, but by then it was too late.

     Today, Facebook boasts some 250 million registered users and is worth roughly $5 to $10 billion, depending on who's counting. Three years and two CEOs later, Yahoo is still struggling to survive.

... Read the whole thing here.