Understatement of the year.

Not that they could have bought Google at that time anyway, as Larry and Sergey didn’t want to sell:

“So Semel nevertheless asked to buy Google. They replied that they wanted $1 billion and didn’t want to sell. Semel said he’d think about the price.

Another dinner and Semel agreed to the $1 billion. Larry and Sergey replied that they wanted $3 billion and didn’t want to sell.”

The video interview with Terry Semel of Yahoo! is online here.