Although Alphabet rakes in billions, it remains a one-trick pony
“GOOGLE IS NOT a conventional company,” declared Sergey Brin and Larry Page as they took their firm public in 2004. “We do not intend to become one.” On December 3rd they bowed out as, respectively, president and chief executive of Alphabet, Google’s parent and the world’s fourth-biggest listed firm. Their creation remains unconventional in some ways, if not in others.
The firm has grown conventional in other ways, too. Its dominance has attracted the gaze of regulators. Like other powerful firms, it has hired legions of lobbyists to fight its corner, but with only limited success: from Brussels to the Beltway, politicians rail against its power and attitudes to user privacy. The EU has fined it around $9bn in the past two years. Antitrust investigations loom on both sides of the Atlantic.
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