The drop started last Friday, and continued over the weekend and on Monday. The big tech stocks, like Google, Amazon, Facebook, Apple, and Microsoft, which have been on a long upward trend, have dropped significantly. The drop is considered possibly overdue given the high out-performance and positioning of the stocks. Read more
Japanese telecom company Softbank (the 62nd largest public company in the world) is buying Boston Dynamics from Alphabet (Google’s parent company). Softbank also got Japanese bipedal robotics company Schaft as part of the deal. Details of the deal weren’t published. Google bought Boston Dynamics in 2013 but put it back up for sale again last … Read more
Who is Tencent? It’s the largely unknown (maybe because it’s pretty media shy) parent company of China’s ubiquitous WeChat social media app. Their market cap is $330b, more than JPMorgan Chase. 500m people in China (of 650m total) use WeChat for communicating, finding goods and services, getting directions, and paying for things. Who else is … Read more
Alphabet’s exec Ruth Porat spoke on a conference call this week about the company’s Q1: “Our revenues of $24.8 billion in the first quarter demonstrate our broad-based strength globally, with revenues up 22% year on year. In constant currency, our consolidated revenues grew 24% versus 1Q 2016. Growth in advertising revenues was again driven by … Read more
Now that Google is a sub-company inside Alphabet — which is run by founders Sergey Mikhaylovich Brin and Larry Page — Google is run by Sundar Pichai, and his earnings are up almost double from 2015. In 2016, he made $199.7m. $650k is his base pay, and $198.7m was a stock award. Google is reportedly … Read more
Google’s executive chairman Eric Schmidt is considering using technology to filter out internet content it checks for “hate and harassment” Eric Schmidt, executive chairman of Alphabet Inc (formerly called Google), published an opinion piece for the New York Times in which he expressed his thoughts on “the raw reality of the internet,” writing that Google … Read more
As part of Google’s stated ambition to “do more,” co-founders Larry Page and Sergei Brin have announced they will be restructuring under the umbrella of Alphabet, Inc., a new parent company that will encompass Google and all other Page and Brin projects. Current Google CEO Page wrote in a blog Monday that in addition to … Read more