The Economist Examines Google

Google is hated and feared by many, as The Economist outlines, but it seems it is their moto of "Do No Evil" that gets people annoyed.

The Economist outlines the rapid growth and numerous products Google has bought or developed and suggests much of the fear and hate comes from competitors in the new spaces the search giant is getting involved in.

"Google is often compared to Microsoft (another enemy, incidentally); but its evolution is actually closer to that of the banking industry. Just as financial institutions grew to become repositories of people's money, and thus guardians of private information about their finances, Google is now turning into a custodian of a far wider and more intimate range of information about individuals. Yes, this applies also to rivals such as Yahoo! and Microsoft. But Google, through the sheer speed with which it accumulates the treasure of information, will be the one to test the limits of what society can tolerate," The Economist opines.

In another article, The Economist notes "[i]t is rare for a company to dominate its industry while claiming not to be motivated by money. Google does. But it has yet to face a crisis."

Google's Chief Financial Officer Hal Varian is either shown to be glib or shows he is a little out of touch on average PPC costs when he says “[a]ll that money comes 50 cents at a time.”

But at least the brand has taken hold to the point that even Marge Simpson ultimately says: "And all this time I thought ‘googling yourself' meant the other thing.”

About the author

Frank Watson has been involved with the Web since it started. For the past five years, he headed SEM for FXCM -- at one time one of the top 25 spenders with AdWords. He has worked with most of the major analytics companies and pioneered the ability to tie online marketing with offline conversion.

He has now started his own marketing agency, Kangamurra Media. This new venture will keep him busy when he is not editing the Search Engine Watch forums, blogging at a number of authoritative sites, and developing some interesting online community sites.

He was one of the first 100 AdWords Professionals, a Yahoo and Overture Ambassador, and a member or mod of many of the industry forums. He is also on the Click Quality Council and has worked hard to diminish click fraud.