Google has rough day on Wall Street
We almost never talk about Wall Street in this memo but I’m making an exception to talk about what happened with The Goog yesterday. Revenue was up on the earnings call yesterday, although not as much as some people were expecting, but so was spending: a whopping 54% in one quarter. It seems that a lot of that money was spent on people – hiring new folks and giving existing folks big raises. I guess we can’t expect to see the bloom on the rose forever, Google can’t be the amazing rock star company all the time. But this comes at a time when most tech folk I know do little eye rolls whenever the idea of founder Larry Page taking over the company comes up. He’s seen as not being entirely moored in the realities of running a business. So is Google getting unfocused and spending without thinking? Could the age of Google dominance already be passing? “Mbwa-ha-ha-ha-ha-HA!” said Mark Zuckerberg not really.
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