If Wall Street was getting worried about
Google’s spendthrift ways, then the share price jump that followed its magical reinvention on Monday as Alphabet, the tech investment holding company, was a strange way to show it.
This overhaul formalised what chief executive Larry Pagehas been saying for some time: that Google has its main sights squarely set on giant tech growth markets, such as driverless cars, drones and biotech. Reorganising Google into a conglomerate — with search and other internet businesses just one operating arm among many — is a structure for the long term.
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