Share This
We have been talking about Innovation since this blog went online. Yesterday, Peter Thiel told to Eric Schmidt, Google Chairman and former Google CEO, that Google doesn’t Innovate. Thiel supported the idea that Google has more than 50B$ in cash and doesn’t know how and where to use them.
Google Is Not A Tech Company Anymore.
Peter Thiel is one of the most famous VC in Silicon Valley and it is one, with Reid Hoffman, that you need to listen to when he has something to say. He has been pretty famous for many things such as investing the first 500,000$ in Facebook, but we have previously featured him for suggesting that going to college is a bad idea.
Innovation is the core of a company and it is what it keeps the company going. For this reason Thiel compares Google to a bank rather than a Tech Company. ” When you have more than 32k employees and a lot of cash available, you should reinvest in yourself”, he points out. This is what Thiel doesn’t understand about Google.
However we think that Google is not a bank yet. Although many companies are dying from an innovation point of view, Google in the past months has showed us what it can make when it really focuses on innovation and ideas. If Google finds an equilibrium and reject all those projects that have been copied or acquired and focuses on what it really matters, it will find the way the company followed in its first days.
Google is not dead yet; there are so many things to do in order to save it. Google can still be the leader in Silicon Valley and the most innovative company. They just need to think and don’t follow what Eric Schmidt says in the video. In the moment you believe you are the best, you have failed. You should always look back at what you did and analyze with a critical point of view your projects.
It is true that Chrome is the best and the most used browser in the web, but that is not enough. You are Google, you have thousands and thousands of employees. At any time, you are able to build several different products, so for this reason Chrome is just a little piece of what you have.
I don’t agree with the cynical Peter Thiel’s point of view, although I have been more critical about Google than he has been. There are so many things to do and we are just at the beginning of another tech bubble.
