Google is not a conventional company. Number of letter in the alphabet do not intend to become one.
From the start, we’ve always strived to do more, and to do important and meaningful things with the resources we have. We did a lot of things that seemed crazy at the time. We are still trying to do things other people think are crazy but we are super excited about. We’ve long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes. But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant. Our company is operating well today, but we think we can make it cleaner and more accountable.
So we are creating a new company, called Alphabet. I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President. Alphabet is mostly a collection of companies. The largest of which, of course, is Google.
This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main internet products contained in Alphabet instead. What do we mean by far afield? Alphabet is about businesses prospering through strong leaders and independence. In general, our model is to have a strong CEO who runs each business, with Sergey and me in service to them as needed. We will rigorously handle capital allocation and work to make sure each business is executing well.