A Quote by Patrick Pichette
Google is a very responsible company. It's a generous company, but it's very frugal in many ways.
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I think Google is the most successful attention merchant - profitable attention merchant in the history of the world, most successful advertising-only based company - most profitable. They started a very idealistic, beautiful company in many ways, but they didn't have a business model.
Shareholder activism is not a privilege - it is a right and a responsibility. When we invest in a company, we own part of that company and we are partly responsible for how that company progresses. If we believe there is something going wrong with the company, then we, as shareholders, must become active and vocal.
What's been unique about our acquisition is that Google is leaving us independent. That actually means that the company is structured the same... We really are a company within a company.
As far as the lawsuit, yes, when I was very young, I went into my father's company, had a real estate company in Brooklyn and Queens, and we, along with many, many other companies throughout the country - it was a federal lawsuit - were sued. We settled the suit with zero - with no admission of guilt. It was very easy to do.
As a company, we have to be very transparent. We are in a business very related to finance, and I want this company to last long, and I want this company to be audited by everyone.
The problem we encountered with Wave at Google was that we became very isolated from the rest of the company. And in the time that it took us to build Wave, the rest of the company changed direction. I think that has a lot to do with why the product failed.
Google (and Bing and Yahoo!) don't 'owe' any company traffic. If a company has to spend more on advertising on Google, in addition to investing in search-engine-optimization, that is not a violation of any law.
People have learned a lot about my company and now they realize, my company is much bigger, much more powerful than they ever thought. We're in many, many countries, and I'm very proud of it.
At Travelers, we were much more opportunistic. It was very successful, but it wasn't an integrated financial services company. We had a property casualty company, a life company, a brokerage company. We were a financial conglomerate. It wasn't a unified, coordinated strategy of any sort. When it merged with Citi, that became a big issue; Citi, at that time, wasn't yet a fully integrated, coordinated company.
Google was a venture-funded company. Being part of that brings an energy to the company.
We want employees teaching each other what they know. We're tying to build a company so each person can achieve at a very high level - we're not just the engineering company or the design company.
If I had gone to a big company, it would have been very difficult for me to do research freely. At a big company, say Sony, there are very, very good researchers. So I would have to ask them what I could do.
I described the CEO job as knowing what to do and getting the company to do what you want. Designing a proper company culture will help you get your company to do what you want in certain important areas for a very long time.
I think of Google as a set of overlapping things. It's a consumer platform, consumer phenomenon of which search is its fundamental activity, but there are many other things you can do than search... I think of Google as an advertising company who services the broader advertising industry in the ways that you know.
Deep learning is a very capital-intensive area, and it's rare to find a company with both the necessary resources and a company structure where things can get done without having to pass through too many channels and committee meetings.
We don't have a traditional strategy process, planning process like you'd find in traditional technical companies. It allows Google to innovate very, very quickly, which I think is a real strength of the company.
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