Since this blog only just re-launched roughly 48 hours ago, we’re not currently posting comments. That doesn’t mean we haven’t been receiving them, however  . . . (and fear not – we will be 100% interactive by next week at the latest) Anyhow, since a number of you were interested in hearing more about the brief post from Sunday regarding Yahoo’s recent acquisition of Tumblr, I decided that today would be an appropriate time to toss my hat in the ring and add some actual commentary.

While this absolutely should not be construed as investment advice, I like the idea that Yahoo is trying to increase traffic. If their future revenue is (even only partially) tied to advertising income through redefining pictorial search, then the purchase makes sense. Tumblr, by all accounts, has a lot of subscribers and is an exceedingly inventive social networking concept. That said, at present, it doesn’t really make much money (relatively speaking), so only time will tell as to whether adding its platform to Yahoo’s suite of services (for $1.1 billion) actually benefits shareholders.

What Marissa has demonstrated here is that she can convince the Board and a group of significant investors that her vision is the right vision. This is a corporate leader who clearly can play the executive game. In many ways, she has now officially joined the very short-list of Valley players most aggressively “leaning in.” Each of her initial tactical moves have shown true energy and nothing about her performance (so far) suggests any hesitancy to throw an uppercut or two as opposed to feeling her way along, gradually adjusting to a foreign corporate culture, etc. By hook or by crook, her site has added an impressive number of new users (albeit, while spending an equally impressive amount of cash).

So, can Yahoo re-insert itself into the top-tier of money-making web fixtures and become relevant again to end users in such a highly contested space? On that one, it’s simply too soon to predict. What I can say with certainty is that Ms. Mayer’s CEO honeymoon is officially over. If Tumblr goes south, there’s every chance she’ll be sitting next to it on the same (tax free . . .) corporate jet.

What’s especially interesting to me (and where I hope to learn more), is that I’m not at all sure adding Tumblr subscribers to Yahoo’s content-platform/media portal (assuming that’s, more or less, how one describes Yahoo these days) can be directly analogized to, say, a bank increasing its number of depositors. Revenue is by no means automatic in these situations – e.g., something comparable to the spread between loans and deposits.

Nevertheless, Marissa has shown an absolute willingness to allocate resources boldly. In one of America’s most unforgiving valleys, that’s a prerequisite for effective upper level management – let alone the CEO of a company with Yahoo’s (potentially) enormous heft. And on that note, I’ll throw the key question back to you: Is she more Steve Jobs or John Sculley? (I’ll leave Ballmer, Sergey and Larry out of this one . . .)

Meanwhile take a look at this intriguing profile of Tumblr founder, David Karp, in yesterday’s Economic Times: “Tumblr’s David Karp: Another school dropout who struck it rich before turning 30.”

Ok. A few questions . . . Now that these Chinese attacks seem to be happening on a weekly (or at least monthly basis) and actually are targeting high value assets (e.g., our power grid, classified blueprints, intellectual property and insider financial data – just to name a few), at what point do “cyber attacks” become “cyber war?” Or are we already in a cyber war? And, if so, shouldn’t these stories be getting slightly more coverage in the mainstream media?

• “Start by visualizing one five-drawer filing cabinet. Now, think of a room filled with 60 million five-drawer file cabinets. That’s how much data comes from all of the Walmart stores every hour.”
• “If we look back 20 years, from 1993 to a few years ago, the total amount of data that went over the Internet in a year is now how much data that goes over the Internet in one second.”

I’ve always been a Republican and will likely always be one. Bet’s let’s just say the Party isn’t making it easy for guys like me. I’m all for sensible tax reform and cutting the deficit. But when it comes wasting time on issues like gay marriage, alienating the fastest growing demographic group in our country by opposing sensible immigration reform or opposing efforts to keep guns out of the hands of criminals, terrorists and the mentally deranged (something 90% of the American people support), it’s like we’re asking to be a permanent minority. Isn’t it time to remember what the term GOP actually stands for? We may still be old, but that won’t do us much good at the ballot box if we’re neither grand in our ideals nor a party capable of doing the one thing parties are built to do: win elections. And for anyone out there who thinks the past week’s various scandals are going to ultimately decide the balance of power, I offer two words: “BILL CLINTON.”

Update: Then again, here’s what Karl Rove has to say on the subject . . . The Wall Street Journel, Op-Ed, 5/1/2013

As this article – and its five key points (listed below) – demonstrate, the world’s smartest economists focus on staying close to their mothers and recognizing that some of life’s most fundamental values (in particular, humility and respect) offer some of the best, and too frequently overlooked, investment advantages . . .

“What Stock to Buy? Hey, Mom, Don’t Ask Me.” The New York Times, 5/18/2013

1. THE MARKET PROCESSES INFORMATION QUICKLY
2. PRICE MOVES ARE OFTEN INEXPLICABLE
3. HOLDING STOCKS IS A GOOD BET
4. DIVERSIFICATION IS ESSENTIAL
5. SMART INVESTORS THINK GLOBALLY

I can’t say I know a lot about Kanye West’s music. I know that he is in the process of fathering Kim Kardashian’s “problem” and that he scores consistent credit for being weird and diva-licious.  Nevertheless, even a quick listen to his older work indicates an artist with some hardcore meaningful rumbling taking place between his ears. The man can certainly rap and delivers undeniable creativity – both lyrically and with his beats.

Against that backdrop, his single, “Black Skinhead,” flashed up on SNL last night and I’ve gotta say, I really liked it.  It was hard-edged, gritty and appropriately tinged both with rock sensibility and heavy metal madness. Indeed, at times he sounded desperate (as in the “I can’t be on the same Lear Jet as my Kim for another half an hour,” sort of desperate) yet also old-school NWA-style aggression. The song was more than sufficiently refined to keep me hanging around for repeat listens.  In some ways, it reminded me of Public Enemy’s “Bring the Noise” classic mash-up with Anthrax. And, without doubt, it’s certainly harder than any Beastie Boys I can remember.

As with much hip-hop, the first time I heard “Black Skinhead,” I could understand (in a contextual sense) maybe only about 30% of the words – the second time, probably 60%.  (Pure honesty here – I’m working at it)  And that’s the thing -  I’m now more or less convinced this one track may well be the kind of ear-worm capable of drilling itself into my very thick skull until I’m actually able to rap (realism check – “recite the words”) – although, gosh darn it, if I could rap Kanye’s lyrics, I’d FINALLY be able to drop this whole “white-guy preppy private banker gig” and at long last become the REAL Frazer I always knew I could I could be . . .

So point is this: If crazy and prolonged exposure to Kim worked for you, Kanye, sign me up.

VIDEO: Kanye performs “Black Skinhead on SNL, 5/18/2013

“Dumb Criminal of the Week: The Alleged Burglar Who Fell Asleep on a Bear Skin Mid-Burglary,” Slate, 5/18/2013