Google’s parent Alphabet plans to shut a seven-story building in London, which was devoted to helping start-ups. The move comes after the pandemic hit the globe and showed the tech giant that physical space is no more required to help the start-ups. Google is already providing its support programs and services online due to COVID 19. The UK startup community doesn’t need physical space as much as access to resources, said Google in a statement.
Google’s parent company Alphabet has saved $268 mn in expenses due to the drop in company promotions, travel, and entertainment, during the first quarter of 2021, “primarily as a result of COVID-19.” By end of the year, if the saving continues then, it would be over a $1 bn. In the year 2020, Alphabet’s advert and promotional expenses reduced by $1.4 bn, due to falling in spending, paused or rescheduled campaigns, and switching events in digital-only formats due to COVID-19.
A LinkedIn survey said that Amazon is the most desirable workplace in the US for 2021, based on its ability to attract, develop and retain talent. It was followed by Alphabet, JPMorgan Chase, AT&T and Bank of America. Amazon is up from number 3 in 2019. The annual list uses data from Microsoft-owned professional networking platform’s 740 mn members across the globe to rank the most sought-after places to work for professionals in the US.
Google’s parent company Alphabet reported revenue of $55.3 bn, a 34% rise YoY, in the first quarter of 2021. The tech giant reported $17.9 bn as net income with $135 bn in cash and marketable securities. Google Services revenues went by 34% to touch $51.2 bn, it included revenue of Google Search and other advertising revenues of $31.9 bn in the period, up by 30%. Alphabet has also managed to reduce losses of its Cloud vertical.
CEO of Alphabet Inc.’s Waymo, the self-driving vehicle division, John Krafcik (59) has stepped down. He will be replaced by COO Tekedra Mawakana, and CTO Dmitri Dolgov, who will serve as co-CEOs. Mawakana, who held senior roles at AOL, Yahoo, EBay, was named COO in 2019. Dolgov had been CTO since 2016 and previously worked with Google and was a researcher at Toyota Research Institute, as per his LinkedIn profile.
Alphabet, for the first, will disclose the cost and operating profit of Google Cloud business today. The disclosure is likely to eclipse the record overall quarterly sales for the internet’s biggest platform for ads. This has come after years of aggressive investment and at the time when COVID-19 pandemic is pushing work, shopping, education and entertainment online. JPMorgan & Chase Co analysts estimate the unit’s 2020 operating margin at 2%.
Alphabet CEO Sundar Pichai said employee dissent about Google’s AI work looks intense because the company is so transparent. Pichai during a WEF discussion said “We are a lot more transparent than most other companies, and so you do see us in the middle of these issues. ” Last year in Dec, researcher Timnit Gebru, known for revealing how facial recognition algorithms are better at identifying White people than Black people, left Google amid controversy.
Search engine giant Google has few browser extensions of online conglomerate InterActive Corp or IAC for “policy violations” and is reviewing “enforcement options”. Earlier, The Wall Street Journal reported that the Alphabet company was about to impose severe penalties on IAC over what Google deemed were “deceptive marketing practices”. Google’s spokesman, as per Reuters report, did not specify the exact policies it felt were violated by IAC.
1. A lot of people use Google Maps; hence GPS coupled with AI, ML allows it to understand the presence of other cars on the road that the user is traversing. 2. Google, along with Alphabet AI research lab – DeepMind, works on improving traffic accuracy. 3. The company uses historical data to draw patterns and identify what traffic will look like in the near future. 4. Authoritative data from local govt. lets Google Maps know about speed limits, tolls, etc.