What Will Alphabet Be When It Grows Up?

To truly change the world, Google’s new holding company will need something that has eluded many previous industrial labs: an effective commercialization strategy.
One of the more interesting documents of the information age was posted on the Internet 11 years ago, as part of the initial public offering of Google. That document, signed by founders Larry Page and Sergey Brin, conveyed both a deep enthusiasm for technological innovation and a mistrust of Wall Street. Page and Brin suggested that it would be possible to balance risk-taking with a sense of fiduciary responsibility. They would implement “a corporate structure that is designed to protect Google’s ability to innovate.” Above all, Google would not be a company that existed merely to reap profits and expand market share—rather, it would aspire “to develop services that significantly improve the lives of as many people as possible.” Page warned: “As an investor, you are placing a potentially risky long term bet on the team, especially Sergey and me.”