The cover of the August 16 issue of Fortune Magazine features this laughable question, “Is Google Over?” They go on by saying, “It’s still a juggernaut, but with online search slowing and new competition looming, Google’s best days may be behind it.”
I say it’s laughable because the way they approach that cover story seems to be completely wrong. They try to claim that online search is slowing, but it seems that the opposite is true. In fact, how many of you have Google set as your homepage? Beyond that, isn’t it worth noting that almost all of Google’s income is generated from Ad sales via their Adwords and Adsense programs.
In fact, last quarter they profited over 2.5 Billions dollars giving them an effective annual profit of over 10 billion dollars. According to Business Insider, they currently have $27 Billion in the bank right now. Their profit is growing. Their ad sales are growing… all in the midst of a national…err…global recession. Imagine how they’ll be doing when the economy starts ticking higher.
The truth is that Google is innovative and we should be learning from them. They started out as a search engine and have developed into the GE of the online world. They’re now a conglomerate providing search engine services, advertising, online word processing, email, shopping, blogging, rss feed processing, online library services, and much more. This company is constantly reinventing the wheel and developing new ways to accomplish new tasks.
I’ve always believed in paying cash for my vehicles. I really don’t enjoy being tied down to debt, but when Google launched their IPO, I was on the edge of taking out the biggest loan I could get against my vehicle and dumping it all into Google’s stock. I probably could have gotten about $10,000 on it. They launched their stock at $80 per share and now it’s been floating between $400 and $600. Why didn’t I just risk it all.
Google is innovative and they’re going to be around for a while. They’ve got what it takes to adapt to the changing online climate. The question is…do you?
Viva la Google.
… Maybe now I should open the magazine and see what they have to say in the article.