The best and slightly desperate part from Yang yet, in his keynote Q&A at the D conference: “The perception of us being a company under siege is not accurate. The process has many ways to pull our leadership team together...this is a real-lfe exercise in crisis management. What we do matters. In a way, the morale at Yahoo is all about: we are the center of attention for a reason. There is a sense that Yahoo is getting weaker, or that we can’t be independent anymore. We can’t be more clear: we will transition the business. The essence of Yahoo is being defined in a lot of ways that makes us much stronger. The people who are there now, and joining us today, are joining it for the right reasons.”

Asked by Kara: Why are you the best person and team to lead Yahoo now, even though you two have been there all along? Yang: “I do think I am the best person to lead Yahoo, not only because I bleed purple and bleed Yahoo (NSDQ: YHOO). There is a big opportunity to fulfill at Yahoo...I also felt it was my time to take the company to the next level. In so many ways, the right leadership team, with Sue and Filo, we can achieve that dream. I feel like I am most passionate and have the vision of where we want to be. We are starting to show that Yahoo can be on this past to be a different entity...”

On the road ahead: We did not walk away from that table...Microsoft (NSDQ: MSFT) did. I am willing to do the deal on right terms. History will somehow rewrite itself, but it wasn’t clear to me if they were ready to finish the deal. It is not something I can revisit and take, or not take.

Concerns of shareholders: Focus for us is how do we recognize more value for the company, but strategically I want to position Yahoo for long term. We have to do this for the long term reasons, even though I understand the concerns of the shareholders.

• @ D: Yahoo’s Yang and Decker: It Is Like You Break Up With Your Girlfriend in High School