To many, Caterina Fake is one of the heroes of the Web 2.0 era. As a co-founder of Flickr, she has a lifetime of cred among the geek set.

In 2005, Fake and Stewart Butterfield, her husband and fellow Flickr co-founder, sold their Vancouver start-up to Yahoo and moved to Silicon Valley. As the continued popularity and influence of the photo-hosting site demonstrate, they fit right in.

In contrast to Flickr, however, Yahoo is no longer seen by many as an innovator. Rather than build its own hit technology, some say, Yahoo has been relying on its acquisitions of Flickr, events-listing site Upcoming.org, social-bookmarking service Delicious, and others.

Now, as leader of Yahoo's technology development group, Fake has been charged with lighting a fire under the tech giant's creative behind, and the company has launched a new internal incubator called Brickhouse.

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