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Facebook, now meta, google alphabet failure should be avoided




Google rebranded in 2015 and invested in ambitious projects such as Loon, Nest and Waymo. However, many of its projects have been closed, sunk cash, or reabsorbed by Google. Facebook (now Meta) needs to make sure they aren’t facing the same fate. Something is loaded.

Formerly known as Facebook, Meta is making a big bet on the Metaverse.

That’s why it changed its name: to reflect its goal of expanding into what takes over the modern Internet. Zuckerberg says it doesn’t make sense for a company that owns multiple projects or apps to go under one of its names (Facebook) anyway.

And if the move sounds familiar, it’s because Google will rebuild itself in 2015 to help each business run more efficiently.

When Alphabet was launched, Google and its futuristic technology-focused “other betting” efforts were split into two buckets and housed under their umbrella. The latter includes the Waymo self-driving car initiative and Loon, which will transform broadband access with solar-powered hot-air balloons.

But in the next six years, as CNBC recently pointed out, Google has moved at a glacier pace to drive some of its “moonshot projects” into mainstream use. Some are promising, others have been reabsorbed by Google, sunk large amounts of cash, spun off as another entity, or completely closed.

And as Meta prepares to spend billions of dollars on its Metaverse mission over the years, “I’m seeing history repeat itself,” said former hedge fund manager and Empire Financial Research CEO. Whitney Tillson told the insider.

Cash flow can hinder the true growth of ambitious projects One of Alphabet’s Loon balloons is floating in the New Zealand sky. Google X

According to Tilson, Google’s main weakness was creating a comprehensive framework in the alphabet. Instead, the company should have spun out ambitious projects rather than putting them under the parent company. There, it was isolated from the market by a pile of alphabet cash.

“With access to unlimited capital with little oversight, we couldn’t achieve what we could have achieved as an independent company with its own board of directors who had to show milestones and return to the capital market,” Tillson said. He said. ..

For example, Alphabet’s electric kite project Makani was to take advantage of more sustainable wind energy sources. However, the company closed in early 2020 because “the road to commercial viability is much longer and more risky than expected.”

According to Bloomberg, Loon was closed earlier this year, and Waymo Google’s spin-off brothers recently complained about slow progress towards mass adoption of autonomous tech companies, causing CEOs, CFOs, and others to complain. I saw the exit of Top Brass.

Other projects have been transferred from Alphabet’s Other Bets bucket to the Google division, which houses search engines. It happened in early 2020 at Jigsaw, a technology incubator dedicated to solving disinformation and other online problems, Nest, a smart home project in 2018, and Chronicle, a cybersecurity effort in 2019. ..

And the company has invested a fair amount of money in these “moonshot projects.” As Bloomberg reported in May, other bets have consumed $ 3.2 billion in capital and $ 24.3 billion in operating losses since Google changed its name. As CNBC reported, Alphabet-owned artificial intelligence company Deepmind alone reported a loss of $ 649 million in 2019, with most of its costs being spent on staff and other factors. rice field.

Investors shrugged their losses. Google’s market value has skyrocketed since the restructuring, doubling the benchmark S & P 500 index since 2015.

As with Facebook, Tilson said the two companies have a very strong position in the core business and digital advertising space, regardless of how the Metaverse project happens.

Zuckerberg and other company executives admit that it will take years for the Metaverse to materialize for exactly at least 10 years.

But Tilson said Facebook should do what Google should do. It focuses on its most successful businesses, addresses the notable issues associated with them, and “doesn’t waste $ 10 billion a year on the Metaverse.”

“Google and Facebook are both examples of the world’s largest businesses, but how much cash flow can the world’s largest businesses bring to complacency, misallocation of capital and the building of an empire,” Tilson said. Told.




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