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» Googlecalifragilisticexpialidocious from Relax, Everything Is Deeply Intertwingled
Until this typepad post, there was exactly one Google hit for the nonwordGooglecalifragilisticexpialidocious.It was a link to What Would Jesus Google? For what it's worth, until this typepad post, there was also exactly one Yahoo hit, one MSN hit, and [Read More]

» Google Passed Cisco, Coca Cola, Time-Warner, and AT and T from Relax, Everything Is Deeply Intertwingled
I looked at my watch this morning and realized it's 2006. I wonder what happened while I was sleeping? Hmmmm, lemme take a moment to revisit market caps. I did it in August 2004 when Google went public, and February [Read More]

» gomez article from gomes blog
it's my opinion on that theme [Read More]

Comments

Timboy

Yawn. Being google-obsessed is _so_ 2003.

Adam

Actually, saying something "is _so_ 2003" is _so_ 2002... :)

And didn't you notice that at the top of my links now is Yahoo! Search Blog? I am nowadays more often a Yahooligan than a Googler...

But I bet you don't follow Yahoo around in your car, and sit outside its building at three in the morning just to see who might visit, and make hang-up calls just to hear its voice.... (Don't act like you don't know what I'm talking about, Adam.)

Adam

Wow. Whenever I stalk Google, it appears that Google also stalks me. :)

Adam

Thanks to John Battelle I now know that Google's market cap has passed $50 billion, making it worth more than Yahoo!:

By Michael Paige, CBS.MarketWatch.com
Last Update: 4:36 PM ET Oct. 25, 2004

LOS ANGELES (CBS.MW) - Shares of Internet search darling Google Inc. surged for a third day Monday, vaulting the company's market value above that of rival Yahoo Inc., to more than $50 billion, just two months after Google's initial public offering.

Google (GOOG) rose $14.97, or nearly 9 percent, to $187.40, boosting the Mountain View, Calif. company's market capitalization to $50.8 billion. Shares of Yahoo (YHOO) edged up 24 cents to $35.20, for a market cap of $47.8 billion.

Google's shares have more than doubled since they debuted in August at $85 each.

By the way, with its shares at $98 and change, EBAY has passed a market cap of $65 billion. Compare with the market caps in the post above, and you'll discover that EBAY is now worth more than Tyco, 3M, Morgan Stanley, and Hewlett-Packard; meanwhile, Google is now worth more than Disney, DuPont, SAP, Boeing, Goldman Sachs, Target, McDonald's, and Anheuser-Busch.

I fail to see the gravity in this situation...

Then again, this Forbes article put it into good perspective for me...

Microsoft Is A-Rod; Google Is Pujols
Dan Ackman, 10.22.04, 10:20 AM ET

NEW YORK - Yesterday Microsoft announced that its earnings rose by 11% compared to last year, which is no mean feat for a company with $10 billion in sales. That result may or may not have been officially "disappointing," depending on how you count. Google meanwhile more than doubled its earnings, creating the kind of excitement Microsoft once created, and not so long ago. Google also refuses to tell Wall Street what it will do next--it gives no "guidance"--setting up more excitement from its next earnings announcement.

In baseball terms, Microsoft has become Alex Rodriguez. It's still a great company, just as Rodriguez is still a great player, and still relatively young. But while A-Rod used to play in Seattle (near where, in an ironic note, Microsoft is still based), generating not just excitement about its present, but a frenzy about its unknowable future, he now plays for the New York Yankees. They used to say that rooting for the Yankees is like rooting for General Motors (nyse: GM - news - people ). Bring that slogan up to date, and it's: Rooting for the Yankees is like rooting for Microsoft.

Even if Rodriguez has a great year, it's just to be expected. After all, he does make $22 million per year. That's how it is for Microsoft, as its shares haven't traded lower than $23 or higher than $30 for two years. Sure, the company can still do better or worse. It can do better in selling servers or slightly worse in long-term sales. All very nice, but who cares?

Google, though, is Albert Pujols. The only question: Is Google Pujols circa 2003, or is it Pujols circa 2004? Going into the 2003 season, the St. Louis Cardinals first baseman was already a great player, but he was young, so he was paid a relatively paltry $900,000. Forbes.com ranked him the second-best bargain in baseball.

Before the 2004 season, Pujols, too, signed a massive contract, which will pay him $100 million over seven years. Only 24 years old, he is still improving, even as he was probably the second-best hitter in baseball this year, just after Barry Bonds. Yesterday he won the National League Championship Series Most Valuable Player award.

Google, too, had a great season and a great day yesterday. Two months ago it completed its initial public offering. While expectations for the IPO were damped down in the week before the shares started trading, it still raised $1.8 billion in selling less than one-fifth of the company. By yesterday its share price had risen to $149 from $95, and the company was valued at $40.5 billion.

To put that in perspective, Microsoft Chairman Bill Gates still has a personal net worth that exceeds Google's market value. Also, at one time Nortel Networks and Sun Microsystems both sported market values nearly double Google's market value today. Today, of course, neither is close.

The word Google is derived from "googol," which is the number one followed by 100 zeros. Yesterday Google reported quarterly earnings starting with a five, then a two, and then just six zeros. Even in yen, that's nowhere near a googol. But Wall Street thinks it's heading in that direction, and immediately bid up the shares even higher.

Google co-founder Larry Page, who spoke to analysts on a conference call with co-founder Sergey Brin and Chief Executive Eric Schmidt, said: "We've only just begun. Only a fraction of the world's information is indexed on our computers. We're always looking for more ways to do this."

Google says its goal cannot be expressed in financial terms, and thus it will not engage in the game of guidance, followed by delight or disappointment when the guidance is even a little misguided. On the other hand, it does say its goal is to index all of the world's information. That's a promise that a young Rodriguez or a rookie Pujols can't make, but for Google, the world is young.


madh

great to read this two years after.

The comments to this entry are closed.

Music

Reading

  • John Battelle: The Search

    John Battelle: The Search
    My favorite book of 2005. Period.


    (*****)

  • Steven D. Levitt: Freakonomics : A Rogue Economist Explores the Hidden Side of Everything

    Steven D. Levitt: Freakonomics : A Rogue Economist Explores the Hidden Side of Everything
    "Just because two things are correlated does not mean that one causes the other. A correlation simply means that a relationship exists between two factors -- let's call them X and Y -- but it tells you nothing about the direction of that relationship. It's possible that X causes Y; it's also possible that Y causes X; and it may be that X and Y are both being caused by some other factor, Z.

    Economics is, at root, the study of incentives: how people get what they want, or need, especially when other people want or need the same thing.

    Incentives are the cornerstone of modern life. The conventional wisdom is often wrong. Dramatic effects often have distant, even subtle, causes. Experts use their informational advantage to serve their own agenda. Knowing what to measure and how to measure it makes a complicated world much less so." (*****)

  • Malcolm Gladwell: Blink

    Malcolm Gladwell: Blink
    A book of anecdotes about the power of thinking without thinking; this book is a more interesting read than Gladwell's previous, The Tipping Point.

    New York Times: "Gottman believes that each relationship has a DNA, or an essential nature. It's possible to take a very thin slice of that relationship, grasp its fundamental pattern and make a decent prediction of its destiny. Gladwell says we are thin-slicing all the time -- when we go on a date, meet a prospective employee, judge any situation. We take a small portion of a person or problem and extrapolate amazingly well about the whole."

    David Brooks, who wrote that review, adds: "Isn't it as possible that the backstage part of the brain might be more like a personality, some unique and nontechnological essence that cannot be adequately generalized about by scientists in white coats with clipboards?" (*****)

  • Paul Graham: Hackers and Painters

    Paul Graham: Hackers and Painters
    I don't agree with some parts of this book, but I truly loved reading it, and it really made me think. I referenced it in my weblications and superhacker and phoneboy posts. Favorite chapter is How to Make Wealth. (Thanks, Ev.) (*****)

  • Joel Spolsky: Joel on Software

    Joel Spolsky: Joel on Software
    Joel is really good at wielding "diverse and occasionally related matters of interest to software developers, designers, and managers, and those who, whether by good fotune or ill luck, work with them in some capacity."

    Joel on Software embodies the principle of "Welcome to management! Guess what? Managing software projects has nothing at all to do with programming." This book, a compendium of the website's wisdom, is useful for everyone from team leads estimating schedules to software CEOs developing competitive strategy. (*****)

  • Bruce Sterling: Tomorrow Now: Envisioning The Next Fifty Years

    Bruce Sterling: Tomorrow Now: Envisioning The Next Fifty Years
    Bruce wrote this book to come to terms with seven novel aspects of the twenty-first century, situations that are novel to that epoch and no other. It's about future possibilities.

    "This is the future as it is felt and understood: via human experience... The years to come are not merely imaginary. They are history that hasn't happened yet. People will be born into these coming years, grow to maturity in them, struggle with their issues, personify those years, and bear them in their flesh. The future will be lived." Here here, well-spoken, Bruce. (*****)

  • The World's 20 Greatest Unsolved Problems: John Vacca

    The World's 20 Greatest Unsolved Problems: John Vacca
    "Science has extended life, conquered disease, and offered new sexual and commercial freedoms through its rituals of discovery, but many unsolved problems remain...

    If support for science falters and if the American public loses interest in it, such apathy may foster an age in which scientific elites ignore the public will and global imperatives." (*****)

  • Paul Hawken, Amory Lovins, L. Hunter Lovins : Natural Capitalism: Creating the Next Industrial Revolution

    Paul Hawken, Amory Lovins, L. Hunter Lovins : Natural Capitalism: Creating the Next Industrial Revolution
    I had the pleasure recently of meeting Amory Lovins and hearing him talk about Twenty Hydrogen Myths and the design of hypercar. (He also talked about Bonobos... wow.) I'm a convert to the way of thinking espoused in Natural Capitalism. I used to be cynical about the future, but Amory's work has made me a believer that many great things are about to come. The best way to predict the future is to invent it. (*****)

  • Merrill R. Chapman: In Search of Stupidity: Over 20 Years of High-Tech Marketing Disasters

    Merrill R. Chapman: In Search of Stupidity: Over 20 Years of High-Tech Marketing Disasters
    In hilarious prose, this book catalogs lots of stoopid high-tech marketing decisions. It offers clear, detailed analysis of many a marketing mishap, with what happened, why, and how to avoid such stupidity. Might just be the best. book. ever... (*****)

  • Paul Krugman: The Great Unraveling: Losing Our Way in the New Century

    Paul Krugman: The Great Unraveling: Losing Our Way in the New Century
    A book exposing the pitfalls of crony capitalism, from corrupt corporations straight up to the executive branch of our government. Krugman is nonpartisan -- what he exposes is foolish short-term thinking on the part of recent United States policies. The patriotic thing to do, he advises, is to fix these economic problems now before they become much harder to solve.

  • Henry Petroski: Small Things Considered: Why There Is No Perfect Design

    Henry Petroski: Small Things Considered: Why There Is No Perfect Design
    "Design can be easy and difficult at the same time, but in the end, it is mostly difficult." (*****)

  • Alexander Blakely: Siberia Bound

    Alexander Blakely: Siberia Bound
    One of my favorite books of the past few years. Xander is a master storyteller. (*****)

  • Susan Scott: Fierce Conversations

    Susan Scott: Fierce Conversations
    How to make every conversation count. One of my favorite books of the last decade. (*****)

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