That's all true except your very last sentence. He doesn't owe shareholders squat. That's an unnecessary hyperbolic statement that doesn't accomplish anything

That's all true except your very last sentence. He doesn't owe shareholders squat. That's an unnecessary hyperbolic statement that doesn't accomplish anything good. It's because shareholders buy in that Google's share price doesn't totally collapse. If Page doesn't owe them squat, he's free to act irresponsibly and stupidly. Take all of Google's cash and go spend it buying up professional sports teams. Fortunately, Page isn't that stupid and is working to build something big long-term. If he pulls it off, shareholders will be rewarded. If shareholders don't "get" his strategy right now, and Page thinks "whatever you guys, I'm doing what I need to do", that's no reason to state that Page "owes them squat." Page is still acting in the shareholder's long-term interest, whether shareholders agree with his strategy or not. But let's not say he "owes them squat."