05/15/2012 01:25 pm ET Updated Jul 15, 2012

How Yahoo Killed Flickr And Lost The Internet

Web startups are made out of two things: people and code. The people make the code, and the code makes the people rich. Code is like a poem; it has to follow certain structural requirements, and yet out of that structure can come art. But code is art that does something. It is the assembly of something brand new from nothing but an idea.

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