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Google morphs into Alphabet as new plan takes shape
Alphabet is a corporation composed of all the services that were previously being handled by the Google itself, and apparently, it is just the new business structure of dividing company’s product in individual companies with Alphabet being a supreme parent company.
Google X, the company’s secretive research arm that came up with the autonomous auto, will become its own business, as will Capital and Ventures, which will concentrate on funding startups.
The old code of conduct included other strong language about not behaving badly, like an instruction that “everything we do in connection with our work at Google will be, and should be, measured against the highest possible standards of ethical business conduct”.
However, what has caught popular attention is the new Code of Conduct put up by Alphabet on its website. Piper Jaffray raised their price objective on shares of Google from $631.00 to $723.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th.
One impact that the change could have is that companies under Alphabet’s ownership that aren’t Google will be able to run a lot more smoothly and efficiently, and will likely be able to launch more products and projects.
However, that doesn’t mean the new businesses will be restricted by the set norms; it could allow them to develop their own cultures, separate from Google.
“Googlers generally apply those words to how we serve our users”, Google’s code reads. But “Don’t be evil’ is much more than that. Now with an identity independent of Google, but within Alphabet, it can interpret “evil” different from Google given that it is only obliged to ‘respect the law, act honourably…” Google was once David to Microsoft’s Goliath – the little company ready to take over the world.
Shares of online advertising company Google are now trading by the name Alphabet starting today. One can only wait and see how it pans out.
Google (NASDAQ:GOOG) last issued its earnings results on Thursday, July 16th.
On Thursday, September 24th, Lawrence Page sold 33,332 shares of Google stock.
Appearing in the 2004 founders’ letter as the firm headed for its IPO, the creed was a product of its time. Short and sweet, it was flawless in headlines for critical stories about the company’s alleged monopolistic behavior, controversial privacy practices, and presence in China, among others.
It was the right thing to do for Nest and life sciences, but also Alphabet – and therein lies the rub; Alphabet will “do what’s right” for the company.
“I don’t think of China as a black hole”. Google will become a wholly-owned subsidiary of Alphabet.