Well, here’s a fun announcement. PandoDaily is very pleased to welcome a new special contributor: Jason Calacanis. Jason will be writing a regular (every couple of weeks) column, offering advice to a company that’s at a crossroads.

Anyone who has attended Jason’s Launch conference, or read his blog or watched an episode of This Week In Startups will know exactly why we were so keen to add Jason’s voice to the site. He’s one of the most consistently entertaining (and, it has to be said, generous) voices in the tech ecosystem. The mentorship he gives at Launch — and before that, at TechCrunch 50 — has probably added countless millions of dollars of value to the companies involved, not to mention those in the audience.

This fact is made only slightly ironic by the varying fortunes of Jason’s own startups: Weblogs Inc sold for $30ish million to AOL, the LAUNCH festival is well attended but Mahalo is… well… Mahalo. (Jason insists I point out that their education content is doing great. We. Shall. See.)

For good or ill, when Jason offers advice on tech entrepreneurship you want to pay attention.

On a personal level, my friendship with Jason has been many things, but never boring. In my first book, I described our first meeting in London when I responded to his boasts about wealth by secretly charging an entire bar’s open tabs to his Amex. Then there was the time when I drunkenly threw a table at him. Then I got sober, and Jason apparently went nuts, suing Mike Arrington over the TC-AOL sale.

One of the founding principles of PandoDaily was that we’d start with a clean slate, with no inherited feuds (or favors). And in that spirit when I suggested to Sarah that we should try to persuade Jason to write a column for us, she readily agreed, noting that there’s a 50 percent chance this will be the best editorial decision we ever made, and a 50 percent chance it’ll end in litigation, wailing, and gnashing of teeth. One thing it definitely won’t be though: dull.

So here we go. While the column was our idea, the theme of the column “what now for…?” was entirely Jason’s idea, and it’s brilliant. This week, Jason offers some advice to poor old Yahoo.

Jason says…

Thanks Paul, I got it from here (ye damn!).

When Pando asked me to write a column I thought, “Wow, what a great opportunity….. for me to insert myself back into the TechDrama!”

I kid. I kid.

Paul and Sarah are long-time friends, and I’ve always appreciated their prose. What great fun to join them here and face the brutality of the commenters!

Jason’s first post — ‘What now Yahoo?’ — is here.