Yesterday was an interesting introduction for Wall Street, Larry Page made his first appearance as Google CEO. It wasn’t an unexpected move for him to be in this position, in fact we knew about it months ago, what was a surprise though was how just how the market reacted. The market shunned Google at present, dropping the stock by 5% of it’s value. But what was it that happened?
Page didn’t pull up stakes on the company, he didn’t outline a plan in which everyone will be living in tents in 5 years. What he did do however in his short time at the helm, is to steer the megolith at a very huge target, the social audience. When you think of anything social on the web, it’s near impossible to leave Facebook out of the equation, so is this the first (real) volley of fire in the Google versus Facebook battle?
It’s starting to look like it at least. Page increased overall spending, and hired more employees for Google, and has challenged all of the engi-nerds to “integrate relationships, sharing and identity across our products” A.k.a – lets get social.
On the whole, even though the marketers may be fretting how things look initially for the search giant, on the whole focusing the company in a new direction is a positive move. Change is good in general, and competition feeds innovation. With Larry Page pointing their guns at a specific prize it leads me to the conclusion we’re going to be in for a hell of a ride.