Over the coming days, weeks and months plenty will be written about what happened today.  Yahoo has officially entered an agreement to turn over their search engine (and all of the monetization of search results) to be handled by Microsoft using their relatively new Bing technology.

I watched Carol Bartz’s offiicial address this morning.  Although her demeanor was certainly polished and confident, I did sense a bit of resignation.  Afterall, Yahoo stood firm against Microsoft believing that the company was undervalued.  Now, it would seem, Yahoo has been distilled into what I have been saying it has always been— the most powerful destination site on the web.

But, there’s a second part to what I have been saying all along— and that is that no matter how good of a destination site Yahoo is, the revenue that comes with being a content site and not an advertiser platform is significantly smaller.  Thus, I expect it won’t be long before we see a leaner Yahoo altogether.  I feel for the staff who works to support search products, and the stress this must be causing you.

On a lighter note, in typical Yahoo versus Microsoft style, the homepages of each do seem reflective of the different takes on what is transpiring:

This morning, Bing features a bridge spanning two majestic and beautiful mountains (in Geneva, nonetheless).  I have no thoughts on what the dam might represent, except possibly Google:

While Yahoo has a lighter presentation on their homepage.  The image and story I was greeted with (sure it varies depending on the layout of your new Yahoo homepage) is about ‘armswinging’.  Saying that scientists have finally solved the mystery of why people swing their arms when they walk.  Well, Yahoo, that speaks volumes of the situation, in my opinion.  Microsoft is connecting mountains, and Yahoo is swinging arms.  I guess that would support what I thought I read as resignation in Carol Bartz’s presentation.

The new Yahoo homepage is truly Web 2.0… or Web 3.0, I can’t keep track of which version we are now on.  My initial reaction is that Yahoo has done a good job of achieving what their obvious goals were:

• Keep users on Yahoo pages by embedding content from other sites into the Yahoo homepage as ‘apps’
• Monetize page views of other sites’ content in those apps