By "they" do you mean the board or the company as seen by accounting documents? Google revenues can be viewed in several ways, in one of them it is not diversi

By "they" do you mean the board or the company as seen by accounting documents? Google revenues can be viewed in several ways, in one of them it is not diversified at all as in 2016, 71% of their revenues came from Googles sites. In another interpretation, they are very diversified, as this 71% revenue stream comes from a set of diverse sources. In yet another interpretation they are quite diversified as the USA provides quite half of their revenues. Accounting could tell very different stories with the same numbers. For the board, if the revenues are steadily increasing it shows they understand their world, which is not a trivial thing at all. It is basically the difference between strategy and post mortem analysis. One is easier to do than the other.