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 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.