Jerry Yang may not have much to cheer about these days, but he does think that the online ad business will come back stronger than ever and that the seeds of the internet's next great thing are being planted now.
Delivering the keynote speech at the IAB U.K.'s annual Engage conference in London, Yang said that he expects the online advertising industry to emerge from the mounting recession "stronger than it went in."
Yang acknowledged that brand advertisers will have to refocus their budgets, but he thinks there will be opportunities on new and maturing platforms.
"I'm optimistic about mobile advertising, and broadband video to a certain extent," said Yang, as reported by ClickZ. "In this environment it's up to marketers whether or not they adopt."
And, he said, despite market volatility and a crisis of confidence that seems to have literally frozen portions of the economy, this "a great time for opportunity."
"In many ways, the darkest days bore Yahoo and Google," Yang said. "Somewhere out there, there is a great company being built."
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