Pushing the Google Too Far
That was one humble Google at its annual Analyst Day exercise today.
Humble, sober and, more tellingly, missing Google's usual swagger.
The 4-hour event amounted to Google explaining life in the post-Google-Giddiness Era.
For one, there's been a profound mindset change. At Google, profits are much more important.
That changes everything. Most importantly, Google's anything-goes research atmosphere is replaced by a more sober-minded one, where funding depends on a project's profit potential. Google is also now more focused on core assets, a very sober move other companies facing uncertainties usually make.
There was tons of talk today about how much of Google's $1 billion-plus capital budget will be spent on Google's network of data centers, its workhorse, pride and joy, and advantage over rivals, it believes. (The company never exactly divulged a total.)
"Investment in capital gives us an enormous technology leverage into multimedia, a worldwide reach, plus customers care about network performance. We're better than anyone else," CEO Eric Schmidt said.