Marissa Mayer! There is too much whimsy!!

So much whimsy.

The new Yahoo! logo redesign is complete, and according to CEO Marissa Mayer, the finishing touch was to add a nine degree tilt to its exclamation mark, "just to add a bit of whimsy". Really, Marissa, why couldn’t you just live a little and turn it up all the way to 11?

The suggestion of a KPI for whimsy calls to mind Toyota CEO Akio Toyoda’s apologetic bow following the brand’s brake failure controversy in 2010, and the subsequent media discussions about what level of incline truly denotes remorse in Japanese corporate culture.

Given this context, isn’t the calculation of exactly how far to tilt an exclamation mark pretty much the antithesis of whimsy?

As a side note, can an exclamation mark even be whimsical? Before writing this piece I stood in front of the mirror, De-Niro-In-Taxi-Driver style, trying to say "Yahoo!" in a whimsical way, but ending up sounding like a cartoon cowboy coming round from a lobotomy.

In any case, there was nothing whimsical about the thinking behind the redesign - the new logo has been crafted over the company’s recent "30 days of change" (does that remind anyone else uncomfortably of the phrase "day of rage?"), as part of a long campaign to transform "Yahoo!" into an entirely new animal.

In her blog post on the subject, Mayer mentions up front how the Yahoo! logo had not been updated in 18 years, and quickly mentions the fact that the brand has been valued at up to $10bn as a reason why any redesign could "not be taken lightly".

The ensuing "geeking out" (her words) on the design process, while a really interesting read, furthers the logic that the worth of a brand is commensurate to the level of overthinking that must go into how it writes its name.

I do understand, I really do, that calling the mastercrafting of a logo "overthinking" brings to mind the cab driver telling the abstract painter in the back seat that "at the enna the day though, a child could do it", or indeed the people who show up in the comments section of articles like this saying "Why is this news? Journalism is dead".

I am certainly not knocking the skill or the importance of commercial graphic designers: my wife is one, and I have seen her work astonishing hours to get a logo just right.

But in this case, what was more important - that Yahoo! redesigned its logo, or that it was seen to be investing a great deal of thought into a redesign?

After all, the original logo (which some inevitably prefer anyway - who’s whimsical now?) managed to drive the company into $10bn territory in the first place, and was clearly fit for purpose - in the end, it was the rapid evolution of the internet that knocked Yahoo! out of the limelight.

The real masterpiece of branding here is not the logo, but Mayer’s own commentary on it, and the insight she provides on the design process… because it feels like something Google would do.

This blog says: "we are fun, and we are creative. But we’re also massive, and capable of being fun and creative in an extraordinarily professional, measured and profitable way." It is no accident that Yahoo!’s multi-billion dollar brand value is mentioned in the third sentence.

Welcome to Big Whimsy.

Yahoo CEO Marissa Mayer. Photograph: Getty Images

By day, Fred Crawley is editor of Credit Today and Insolvency Today. By night, he reviews graphic novels for the New Statesman.

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The Autumn Statement proved it – we need a real alternative to austerity, now

Theresa May’s Tories have missed their chance to rescue the British economy.

After six wasted years of failed Conservative austerity measures, Philip Hammond had the opportunity last month in the Autumn Statement to change course and put in place the economic policies that would deliver greater prosperity, and make sure it was fairly shared.

Instead, he chose to continue with cuts to public services and in-work benefits while failing to deliver the scale of investment needed to secure future prosperity. The sense of betrayal is palpable.

The headline figures are grim. An analysis by the Institute for Fiscal Studies shows that real wages will not recover their 2008 levels even after 2020. The Tories are overseeing a lost decade in earnings that is, in the words Paul Johnson, the director of the IFS, “dreadful” and unprecedented in modern British history.

Meanwhile, the Treasury’s own analysis shows the cuts falling hardest on the poorest 30 per cent of the population. The Office for Budget Responsibility has reported that it expects a £122bn worsening in the public finances over the next five years. Of this, less than half – £59bn – is due to the Tories’ shambolic handling of Brexit. Most of the rest is thanks to their mishandling of the domestic economy.

 

Time to invest

The Tories may think that those people who are “just about managing” are an electoral demographic, but for Labour they are our friends, neighbours and the people we represent. People in all walks of life needed something better from this government, but the Autumn Statement was a betrayal of the hopes that they tried to raise beforehand.

Because the Tories cut when they should have invested, we now have a fundamentally weak economy that is unprepared for the challenges of Brexit. Low investment has meant that instead of installing new machinery, or building the new infrastructure that would support productive high-wage jobs, we have an economy that is more and more dependent on low-productivity, low-paid work. Every hour worked in the US, Germany or France produces on average a third more than an hour of work here.

Labour has different priorities. We will deliver the necessary investment in infrastructure and research funding, and back it up with an industrial strategy that can sustain well-paid, secure jobs in the industries of the future such as renewables. We will fight for Britain’s continued tariff-free access to the single market. We will reverse the tax giveaways to the mega-rich and the giant companies, instead using the money to make sure the NHS and our education system are properly funded. In 2020 we will introduce a real living wage, expected to be £10 an hour, to make sure every job pays a wage you can actually live on. And we will rebuild and transform our economy so no one and no community is left behind.

 

May’s missing alternative

This week, the Bank of England governor, Mark Carney, gave an important speech in which he hit the proverbial nail on the head. He was completely right to point out that societies need to redistribute the gains from trade and technology, and to educate and empower their citizens. We are going through a lost decade of earnings growth, as Carney highlights, and the crisis of productivity will not be solved without major government investment, backed up by an industrial strategy that can deliver growth.

Labour in government is committed to tackling the challenges of rising inequality, low wage growth, and driving up Britain’s productivity growth. But it is becoming clearer each day since Theresa May became Prime Minister that she, like her predecessor, has no credible solutions to the challenges our economy faces.

 

Crisis in Italy

The Italian people have decisively rejected the changes to their constitution proposed by Prime Minister Matteo Renzi, with nearly 60 per cent voting No. The Italian economy has not grown for close to two decades. A succession of governments has attempted to introduce free-market policies, including slashing pensions and undermining rights at work, but these have had little impact.

Renzi wanted extra powers to push through more free-market reforms, but he has now resigned after encountering opposition from across the Italian political spectrum. The absence of growth has left Italian banks with €360bn of loans that are not being repaid. Usually, these debts would be written off, but Italian banks lack the reserves to be able to absorb the losses. They need outside assistance to survive.

 

Bail in or bail out

The oldest bank in the world, Monte dei Paschi di Siena, needs €5bn before the end of the year if it is to avoid collapse. Renzi had arranged a financing deal but this is now under threat. Under new EU rules, governments are not allowed to bail out banks, like in the 2008 crisis. This is intended to protect taxpayers. Instead, bank investors are supposed to take a loss through a “bail-in”.

Unusually, however, Italian bank investors are not only big financial institutions such as insurance companies, but ordinary households. One-third of all Italian bank bonds are held by households, so a bail-in would hit them hard. And should Italy’s banks fail, the danger is that investors will pull money out of banks across Europe, causing further failures. British banks have been reducing their investments in Italy, but concerned UK regulators have asked recently for details of their exposure.

John McDonnell is the shadow chancellor


John McDonnell is Labour MP for Hayes and Harlington and has been shadow chancellor since September 2015. 

This article first appeared in the 08 December 2016 issue of the New Statesman, Brexit to Trump