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Hal Varian, chief economist at Google, was brave enough to walk into the lion's den, aka the Chicago University Antitrust Conference. Here's the video of his presentation and fireside skewering:
- Paid search is a tough business; you can only sell 6% of what you produce (most clicks are non-commercial)
- 75% of Google's acquisitions had 18 or fewer employees; 60% had 10 or fewer, 25% had 3 or fewer -- these are acquihires
- There are diminishing returns from data
- 75% of Google's acquisitions had 18 or fewer employees; 60% had 10 or fewer, 25% had 3 or fewer -- these are acquihires
- There are diminishing returns from data
A lot of the subsequent debate with David Dayen and Fiona Scott Morton was around data privacy. I find most of it bizarre.
If I walk up to a Starbucks and order coffee, I *need* to disclose personal information: my face, my credit card, my name.
If I walk up to a Starbucks and order coffee, I *need* to disclose personal information: my face, my credit card, my name.
You need to supply that information to receive a product or service.
And it's the same thing with Google and Android. Want traffic updates? Your phone needs to know where you are.
And it's the same thing with Google and Android. Want traffic updates? Your phone needs to know where you are.
David asks, "Do you think your company should make that decision or society?"
Well, society isn't doing the innovation and creating all these products and services, Google is. And then society keeps it honest. That's how it works.
Well, society isn't doing the innovation and creating all these products and services, Google is. And then society keeps it honest. That's how it works.
