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Sorry, you never talked to me.
Becoming a mobile phone homepage is not that challenging compare to desktop web and Google/Yahoo do not have the lockdown on mobile homepages -- the carriers do and most of them are getting into the mobile content business themselves.
Our small company did not enter the mobile space because we feel the mobile bandwidth cost is simply too expensive vs the cheap commodity content/features offered. Will I really ever have an urgent need to 'search the web' on a mobile device? No.
I was taken back by your brash assumption that entrepenuers walk around with the attitude that they simply cannot compete against Google/Yahoo. Innovation and change is not something you assume will not happen and WHEN it does happen, you may find your position to be similiar to the Wang loyalists. Entrepenuers are always out there working on new solutions that will be eventually be better than Google and Yahoo..don't make the mistake of having blind love for status quo in this rapidly ever-changing industry.
Remember there are an order of things in this tech world: those that cover tech, those that do tech and those that give tech something to write about and the inspiration to create new solutions. Nobody has a lock down on being the status quo.
My perspective about this space is less about competing with Google and Yahoo, but rather how to provide a compelling and effective service for consumers and advertisers. It is about disrupting an innovation and not sustaining an existing product. The established companies will want to play with our services, since we have created results for local advertisers.