No doubt I have missed some great opportunities in my lifetime.

I should've taken a sick day or two during this year's extended Indian Summer to tackle prime singletrack trail late in the mountain bike season. I should've learned a foreign language. I should've obtained that Whippet for my wife's Christmas (OK, maybe not). I should've taken that money management class in college. I should've bought low and sold high. I should've had that beer with a friend.

Those in the multiplatform business also have passed on some key opportunities … now considered wasted opportunities.

Wasted Opportunity No. 1 - Given that Yahoo is no longer a partner with Google, and with Jerry Yang leaving the company's CEO post, it looks like Google got the last laugh in this debacle. During the short-lived ad search relationship between Yahoo and Google, the internet giant kept the No. 2 search engine out of the hands of Microsoft … for months. Now the software giant isn't interested. Prior to the deal, Microsoft wanted Yahoo for above $33 a share. These days, Yahoo shares are below $10.

Wasted Opportunity No. 2 - Mel Karmazin and the rest of the folks at Sirius could have taken their merged satellite radio platform and forged ahead with a bold and courageous plan to create a multiplatform juggernaut that is the top premium content provider in the audio space. Instead, leaders at the company are running scared. And they have irritated shareholders with talk of a one to 10 reverse stock split … or worse. These days, Sirius XM stock is languishing below 20 cents a share.

Wasted Opportunity No. 3 - FCC Chairman Kevin Martin could be using his last days at the Portals to get the word out about the digital TV transition. Not only should the agency be educating consumers about the February 2009 switch, Martin and the gang could be extolling the virtues of digital TV. Instead, Martin is wasting his final hours taking aim at his long-time favorite target … cable.

Directionless. Missing leadership. And lacking any excitement. That can explain these companies (and the FCC) and their ongoing quest for mediocrity. What's funny is that these examples only scratch the surface of wasted opportunities in the multiplatform business.