In September 2021, Jim Lanzone took over a company whose name once embodied the go-go spirit of the internet but had, over the years, become a joke: Yahoo. He accepted the CEO post from the new private-equity owner Apollo Global Management, which had bought the property from Verizon, the most recent and possibly most clueless caretaker (high bar alert) in a long series of management shifts. Visiting him at the company’s offices in New York City, I ask him why he took the job. “I love turnarounds...