The Ballmer Days Are Over: irrational exuberance at Microsoft

Ballmer’s acquisition of Skype for $8.5 billion dollars is not only a gross overpay, but a complete waste of money for Microsoft. Ballmer has yet to lay out a clear reason why Microsoft wanted Skype. He has only stated the obvious: integration in Microsoft products — which could have been done in a partnership instead of an acquisition.

I have to agree, and in fact would go further than Ben Brooks. What we have here is a patently mismanaged company, Microsoft—one that hasn't bought anything since the market crashed in 2008, opening up, at the time many huge buy opportunities that it didn't spot—that suddenly wakes up and wastes a huge amount of money on something you can't understand why it needs: if that isn't a sign of irrational market exuberance...