Google's success

[0:00]" Cannot let a -- as say he -- the other Gould the end of the world as we know at what do you mean by that. Well what I mean is is that. Is that for traditional media BBV and radio Ort television telephones or advertising in newspapers and magazines or Microsoft. The world is over as they noted that the Internet as represented by Google changes that world. Inevitably and already has and and and they are forced to come up with another business model to succeed. Google is everywhere. And bring you mentioned in news media obviously we use it all the time force or some background and the gold gold is is actually a verb. I I can't imagine even the company is just a little over ten years old can imagine our lives without. But that's why the title of the book is Google it means that the world is Google and and and changed forever I mean if you think about the Internet. The Internet may made information available but there was no way to navigate -- who did was made it accessible. And so at your fingertips all the world's information and and now soon all the world's books. And so it if it's not just her for me is a writer having a library at my fingertips or use of -- as someone doesn't grocery dealership but think about someone in the Third World who can afford textbooks. And could do and and they have a little smart. Laptop. That that's not very expensive and may be at the gates Foundation's on -- foot they can access information often Google's search. And and and and and becomes a very educational device. It."

[1:37]" Because educational and it also on even though we may be different in -- on economic status or social status. It does put the -- and or make the playing field a little more level if you will. Because we when we used to keep up with the joneses we with the let's say the joneses were our neighbors today our neighbors are somebody in Africa as somebody. Clear across the world."

[2:01]" It though it makes information unit universally available and and and cuts out the economic and and race and and demographic. And jet geographic distinctions -- it's an extra come when you go to Google. The headquarters in Mountain View California. You literally see the these globes with popping up lights fumble around the world and they represent the search is being done and Africa that very moment or. Or Sudan or -- or Thailand. And it's it's quite extraordinary and and and their reach is you know -- the -- had a company with 20000. Employees it's only eleven years old. And generating 22 billion dollars worth. Of of revenue every year and four billion dollars worth of profit. That 22 billion dollars worth the revenue is equal to all the advertising dollars that all the consumer magazines in America. -- so it's just an extraordinary growth and and no says it just note that the Lou right hand box if you search crane. The little gray boxes that that's generating all that revenue."

[3:04]" As by Google for short. It only you can all Lee asked this question where where does it go from here -- come this far in eleven years will what's ahead."

[4:48]" What kind of you talk about the billions of money that you were talking about here and it's Proehl says it's it's everywhere so prolific. Is the company well managed -- overhead like it must be amazing."

[5:01]" The overhead and a large overhead and they and they no doubt waste and I tell the story of in everything is free food and free massages and and and free oil changes on Thursdays in five physicians on staff to -- Services so a lot of people going there aren't looking at at this amazing amount of services that Google provides free for its employees for dry cleaning. Free bus service. They say is that wasteful schools answers is not -- we're we're trying to pampering and make our employees. Happy and also by the way were -- the three females today that people -- much longer hours there. But this inevitably. Been a lot of waste and and which leads to questions about management. It's a very odd management system have a troika and have a CEO with the CO works with the two founders. And -- this troika of three people has to agree before major decisions and it's not the way typical company is run. On the other hand they would argue and so far it's hard to prove them wrong that fact creative chaos as they call. That that introduces has worked in -- his continues to grow and continues to make money by the way. Is profit margins are over 30% that means that every dollar they take in more than thirty cents of that is profit. So are they spending a lot of money on the 20000 -- yes but -- making a big profit yes."

[6:41]" They and there are a lot of nerds at school and and and and that is very brilliant terrorists and but they're probably spent too much time staring at a computer screen. And the on the time talking to people which is one of the reasons Michael sometimes bumps into some trouble. Google succeeds because they may hamper their engineers let led by their founders syringes and the CEO Eric Schmidt who's an engine. They -- they understand then that digital world the engineers. Is the content content creator engineer creates the product. And and therefore any engineered -- who gets half that it gets 20% of the time. To work on any project that chores which liberate that gives them a feeling of freedom which is essential to the animation that goes on a Google. But inevitably what happens engineers believe that every problem can be solved with a mathematical formula with congress. And and so they they they launch Francis when they buy used to open in 2006. They say wouldn't what which make money by having advertising and user generated content. And it took the engine music a year and a half to realize -- two years to realize that advertises don't want their friendly products next to next to pictures of dogs who. And and and and and that relationships matter and advertising says they started to sell they thought they could do algorithms to sell advertising for radio. And they had a flop with that. So the engineers bump into the reality of human relationships. Matter and they pop and the reality of the fears that. Bill Gates ten years ago didn't understand the people fear the power of Microsoft he thought they were doing good he couldn't believe the government. Would bring antitrust charges against Microsoft as they did and wouldn't. We'll Google civilly today the engineers. Don't have the proper appreciation of why people would fear. Google's power and their forget on government to say hey let's take a look at what they're doing a privacy let's take a look at what they're doing with with all the power that. And and -- Google engineers live. In their narrow little world and it's a brilliant world but it is one that sometimes pops up against reality."

[8:47]" Ten unleaded justice snippet of what's more to read about in Google the end of the world as we know what thanks so much."