Here's myself and the Journal's Spencer Ante talking about Yahoo and its Tumblr deal on Monday's MoneyBeat show.
The bottom line is that Yahoo is still playing catch-up, and it's going to have to prove that "Yumblr" or "Yamblr" or whatever the cool kids call it isn't another waste of time and money. Nobody's giving them the benefit of the doubt.
The most telling thing about this whole deal was that Yahoo, right at the top of its press release announcing the deal, promised "not to screw it up." You don't hear that kind of thing from companies very often; never, actually.