1/19/2024 0 Comments Google finances actn![]() ![]() With an excess of $1 trillion in market value and billions of worldwide users, Google is the world’s fourth largest company in the world by market cap, according to Investopedia. In Canada, the website is part of the fabric of daily life Canadians ask the search engine roughly three million questions every hour.īut some observers say the company’s bloated bureaucracy, paired with the entry of new artificial intelligence competitors, means that some other company could take over Google’s top spot as “ homepage of the internet.”ĬhatGPT, an artificial intelligence tool, is forcing Google to innovate. When his interviewer couldn’t name any, he said: “Exactly.” “My question is: What has Google launched in the last three years? Name me three things,” he asked. People care about what Pichette thinks, and during a far-reaching phone interview earlier this month, he had a lot to say about Google and the state of Big Tech in general. and Lightspeed Commerce Inc., and scouting for the next Google or Facebook. The role keeps him in the thick of the transition to a digital economy by advising Inovia portfolio companies such as Hopper Inc. These days, Pichette is a partner at Montreal-based venture capital firm Inovia Capital Inc. Patrick Pichette at Google’s Montreal office in 2010. The opinion is surprising, but is based on observations over a 30-year career that featured leadership positions at major companies such as global consultancy McKinsey & Co., where he was a lead member of its North America telecommunications practice, BCE Inc.’s Bell Canada, where he was CFO and head of operations, and Twitter Inc., where he served as chair of the board of directors - and negotiated the company’s sale to Elon Musk. “The opportunity for these companies to stay nimble is to stay small… As they get big, they slow down.”īigger companies are slower to change and innovate, Pichette said in a wide-ranging interview earlier this month. “My criticism of Google and Facebook and all these big giants is that they should be broken up into 10 companies,” Pichette said. ![]() While critics worry about what Google’s dominance is doing to competition, Pichette thinks his former employer should break itself up for its own good. Patrick Pichette, the Canadian who served as Google’s chief financial officer between 20, agrees with Miller, but for different reasons. ![]()
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