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> I'm honestly surprised shareholders haven't started asking questions about the serious mismanagement of capital allocation. I'm sorry I can't hear you over a

by dflock 6y ago

> I'm honestly surprised shareholders haven't started asking questions about the serious mismanagement of capital allocation. I'm sorry I can't hear you over all this money roaring past my ears! Beside Adsense the rest is just a hobby/status game for employees - and it shows.

pas 6y ago
With this approach nothing else will be there besides Adsense. And when Adsense's eventual, but certain death spiral starts, there will be nothing to gently pivot to. Though it's understandable that shareholders are just looking at the next quarter.
- spinningslate 6y ago
  yup, spot on. Google is now where Microsoft was at the height of "Windows on every desktop". From the outside at least, Sundar Pichai's leadership looks increasingly like Steve Balmer's: operational management by numbers. Quarter on glowing quarter of extensive profit to keep the analysts and investment funds happy. But under the covers, no obvious progress on anticipating, or even creating, "next". It almost killed Microsoft, saved only when Balmer was pushed out.
- dflock 6y ago
  Yes. Google sort of reminds me of Saudi Arabia, economically.
  - dmix 6y ago
    If only Saudi Aramco IPO'd they could have diversified with that capital, now it's the usual business plus some fantasy high tech 'planned city'. Was it all an ambitious failed dream? Murdering dictatorships seem to have a problem letting go of control. So I'm saying yes, they had the wrong people advising them. Ignoring the giant elephant that Saudi Arabia didn't even feign "don't be evil", in order to engage in global market capital. Not even temporarily during the IPO, they could have put on their good face to the western world. Instead the top down crafting this IPO gave the "okay" to murder to WaPo journalist and create a global PR disaster because their feelings got hurt. Yet as you mention they still need to diversify, eventually. I wonder how it all will turn out looking back in 5-10yrs.
    - dflock 6y ago
      I read somewhere the other day that Hydrogen was Saudi's new plan, or maybe another plan.
    - pas 6y ago
      The grim reality is that the murder of Jamal Khashoggi probably wouldn't have materially influenced the IPO price. (Trump did not care after all.)

by dflock 6y ago

pas 6y ago

With this approach nothing else will be there besides Adsense. And when Adsense's eventual, but certain death spiral starts, there will be nothing to gently pivot to. Though it's understandable that shareholders are just looking at the next quarter.

spinningslate 6y ago
yup, spot on. Google is now where Microsoft was at the height of "Windows on every desktop". From the outside at least, Sundar Pichai's leadership looks increasingly like Steve Balmer's: operational management by numbers. Quarter on glowing quarter of extensive profit to keep the analysts and investment funds happy. But under the covers, no obvious progress on anticipating, or even creating, "next". It almost killed Microsoft, saved only when Balmer was pushed out.
dflock 6y ago
Yes. Google sort of reminds me of Saudi Arabia, economically.
- dmix 6y ago
  If only Saudi Aramco IPO'd they could have diversified with that capital, now it's the usual business plus some fantasy high tech 'planned city'. Was it all an ambitious failed dream? Murdering dictatorships seem to have a problem letting go of control. So I'm saying yes, they had the wrong people advising them. Ignoring the giant elephant that Saudi Arabia didn't even feign "don't be evil", in order to engage in global market capital. Not even temporarily during the IPO, they could have put on their good face to the western world. Instead the top down crafting this IPO gave the "okay" to murder to WaPo journalist and create a global PR disaster because their feelings got hurt. Yet as you mention they still need to diversify, eventually. I wonder how it all will turn out looking back in 5-10yrs.
  - dflock 6y ago
    I read somewhere the other day that Hydrogen was Saudi's new plan, or maybe another plan.
  - pas 6y ago
    The grim reality is that the murder of Jamal Khashoggi probably wouldn't have materially influenced the IPO price. (Trump did not care after all.)