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☆ Four Google execs got 200% stock payouts for 2023 after strong company performance
▼ + stars: | 2024-05-02 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +2 min

Four Google executives will receive 200% performance-based stock payouts in 2023. Google's senior VP and chief business officer each got $35 million in stock for 2023. AdvertisementGoogle parent company Alphabet paid four of its executives tens of millions of dollars in stock payouts for 2023, based on the company's public-markets performance. AdvertisementA 200% stock payout raised the total stock value for Porat and Walker's 2023 compensation to $23 million each. The executives' compensation was approved in early February after a tumultuous year for the company.

Persons: Google's, —, Ruth Porat, Prabhakar Raghavan, Philipp Schindler, Kent Walker, Raghavan, Schindler, Sundar Pichai Organizations: Google, Service, Twitter

☆ We're boosting our price target on Alphabet by $30 after it delivered the quarter we've been waiting for
▼ + stars: | 2024-04-25 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Alphabet on Thursday delivered a knockout first-quarter report, with sales, operating margin and profits all topping Wall Street expectations. Alphabet Why we own it : Alphabet's Google Search is an invaluable tool for advertisers. Alphabet's big three watch items for investors — Search, YouTube, and Google Cloud — all delivered better-than-expected revenues in the quarter, leading to companywide sales topping estimates. It exited the quarter with $108 billion in cash, cash equivalents and marketable securities on its balance sheet, compared with $110.9 billion at the end of 2023. At 20 cents a share, Alphabet's dividend yield stands at 0.51% based on Thursday's close.

Persons: we've, It's, Sundar Pichai, Ruth Porat, TikTok, Philipp Schindler, Pichai, Porat, we're, Alphabet's, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: YouTube, Microsoft, Management, —, Google, Google Services, Capital, buybacks, Meta, Apple, CNBC, O, Bloomberg, Getty Locations: That's, Mountain View , California

☆ A major headwind for TikTok could be the ultimate tailwind for Meta's Facebook and Instagram
▼ + stars: | 2024-04-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

META mountain 2022-11-03 Meta's stock performance since Nov. 3, 2022, which marked its lowest close during its dramatic sell-off that year. In a recent Wedbush consumer survey, 60% of TikTok users who responded said either Facebook or Instagram were their top alternatives if TikTok were to be banned. That was followed by 19% of TikTok users who said they would go to YouTube. Meanwhile, Deutsche Bank said Meta's stock could see more upside in light of a potential TikTok ban. After initially being a drag on revenue, Meta has said Reels is now a positive contributor across its apps.

Persons: Jim, Joe Biden, ByteDance, Shou Zi Chew, TikTok, –, FactSet, monetization, Philipp Schindler, We'll, Jim Cramer's, Jim Cramer, Avishek Das Organizations: Facebook, Chinese Communist Party, CNBC, Street, Meta, YouTube, Google, Wedbush Securities, Deutsche Bank, Getty Locations: U.S, Washington, Ukraine, Israel, Taiwan, China

☆ Google quietly launches internal AI model named 'Goose' to help employees write code faster, leaked documents show
▼ + stars: | 2024-02-14 | by ( Hugh Langley | ) www.businessinsider.com time to read: +4 min

It is designed to assist with building new products, according to internal documents reviewed by Business Insider. “It can answer questions around Google-specific technologies, write code using internal tech stacks and supports novel capabilities such as editing code based on natural language prompts,” an internal summary of Goose reads. The documents note that the creation of Goose was a collaborative effort between Google Brain, DeepMind, and Google's internal infrastructure teams. And Goose isn't the only example of Google using AI to be more efficient. AdvertisementAnd if Googlers have specific development questions while using Goose, they're encouraged to turn to the company's internal chatbot, named Duckie.

Persons: —, it’s, Gemini, “, Ruth Porat, Goose, TKTKTK Goose, DeepMind, ”, Philipp Schindler, Business Insider’s, they're Organizations: Service, Business, Google, Microsoft

☆ Some of the best early-stage startup investors share a common trait that should be a lesson for Silicon Valley
▼ + stars: | 2024-01-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at the best investors when it comes to early-stage companies. The big storyPicking winnersCaterina Fake, Cindi Bi, and Suleman AliInvesting can be a crapshoot, especially when it comes to early-stage companies. AdvertisementThe investors, profiled by BI's Ben Bergman, Samantha Stokes, Rebecca Torrence, and Leena Rao, have an incredible track record for early-stage investing. Silicon Valley can be known to have a herd mentality, especially when it comes to venture investors. And yet, some of the best early-stage investors have proven to have far better success going out on their own.

Persons: —, we've, Caterina Fake, Suleman Ali, BI's Ben Bergman, Samantha Stokes, Rebecca Torrence, Leena Rao, Joseph Aaron, cofounders, Tanja Ivanova, isn't, Chanos, Elon Musk, Jim Chanos, Tesla, Musk, Dan Ives, Goldman Sachs, Goldman, Brittany Hosea, Satya Nadella, Sam Altman, Philipp Schindler, Google's, Alyssa Powell, Michelle Obama, Betty White, Steve Harvey, Muhammad Ali, Benjamin Franklin, Al Capone, Calvin Harris, Charles Schwab, They've Organizations: Service, Business, Reuters, Getty, Elon, Tesla, Apple, Microsoft, Google, BI Locations: pant, San Francisco, Brittany, China, Davos, ChatGPT's

☆ Leaked memo: Google is laying off hundreds of employees in its advertising sales team
▼ + stars: | 2024-01-16 | by ( Hugh Langley | ) www.businessinsider.com time to read: +6 min

Google is laying off "several hundred" employees in its advertising sales team, Business Insider has learned. Schindler wrote that the cuts were the result of changes being made to how Google's sales team operates. BI previously reported that Google was shifting more staff away from Large Customer Sales (LCS), a team that serves the company's bigger advertising clients, to its Google Customer Solutions (GCS) team, which serves more medium-level clients. This reorg is the next evolution of that as cuts appear to be primarily targeted at the LCS team. Our goal has always been to have the right customer, mapped to the right channel for growth, with the best support models and streamlined operations.

Persons: Philipp Schindler, Google's, Schindler, Max, Chris Pappas, Jerry Dischler, Vidhya Srinivasan, Here's, we've, we're, I've, we'll, Philipp Organizations: Google, Business, BI, LCS, Alphabet Workers, Global, Solutions

Alphabet (GOOGL.O) and Snap surpassed third-quarter revenue expectations on Tuesday, with the tech giant seeing strong growth both at its core Search and YouTube units. Meanwhile, Snap's efforts to revamp its ad targeting tools with technology also paid rich dividends, as average revenue per user increased in the third quarter. "We expect the larger platforms like Meta and Google to lead the wallet share growth at least initially in this ad spend recovery," analysts at Evercore ISI said. Meta has also leaned heavily on AI-powered marketing planning and ad measurement features in recent years to drive its growth. "Facebook/Instagram's tools for creating a (marketing) campaign are vastly quicker and easier to use" than smaller rivals including Snap, RBC analysts said, which could potentially give Meta an edge.

Persons: Arnd, Philipp Schindler, Max, Samrhitha Arunasalam, Aditya Soni, Sriraj Organizations: REUTERS, Google, Facebook, YouTube, Evercore, Meta, RBC, Thomson Locations: Zurich, Switzerland, Middle East, Bengaluru

☆ Wall Street wants to know how Google's going to profit from AI
▼ + stars: | 2023-10-24 | by ( Jennifer Elias | ) www.cnbc.com time to read: +5 min

In the age of AI hype, few companies have used the word "AI" more than Google. Now, Wall Street wants know how it'll turn the hyped tech into dollars and cents. With SGE, Pichai said it'll be able to include "a wider range of sources on the results page, creating new opportunities for content to be discovered." Pichai added that with AI, he sees the opportunity to "evolve search and assistant for the next decade ahead." "It's probably the ultimate example of AI," Pichai said in response to Sheridan's question.

Persons: Bard, Lloyd Walmsley, Pichai, Brian Nowak, Morgan Stanley, Nowak, it'll, Philipp Schindler, we're, Schindler, UBS's Eric Sheridan, execs, Max, Google's, It's Organizations: Google, Deutsche Bank, YouTube, CNBC, Samsung, Toyota

☆ Alphabet Steams Past Ad Worries, Fueled by Google’s Search Engine
▼ + stars: | 2023-07-25 | by ( Nico Grant | More About Nico Grant | ) www.nytimes.com time to read: +2 min

“This is our seventh year as an A.I.-first company, and we intuitively know how to incorporate A.I. “These advances provide an opportunity to reimagine many of our products, including our most important product: search.”Philipp Schindler, Google’s chief business officer, said in the earnings call that YouTube’s quarterly sales gains reflected greater stability in advertiser spending. competition from the ChatGPT chatbot and Microsoft’s Bing search engine, Google’s search engine has remained a central gateway to the web for billions of users. That has helped the company convince more advertisers that its sites are still a reliable way to reach consumers. Google also announced on Tuesday that Ruth Porat, its longest-serving chief financial officer, would assume the newly created role of president and chief investment officer on Sept. 1.

Persons: Mr, Pichai, ” Philipp Schindler, Google’s, Microsoft’s Bing, Ruth Porat Organizations: Google, Microsoft

☆ YouTube to launch its first official shopping channel in South Korea -Yonhap
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

SEOUL, June 21 (Reuters) - YouTube will launch its first official shopping channel for live commerce in South Korea on June 30, Yonhap news agency reported on Wednesday. It is YouTube's first official shopping channel in any country, Yonhap said. "We may experiment with a variety of YouTube Shopping features from time to time," a YouTube spokesperson said, without elaborating. Shares in Naver fell 4% on Wednesday morning, while retailer Lotte Shopping (023530.KS) fell 3.3%, versus the wider market's (.KS11) 0.5% drop. South Korea's live commerce market is projected to grow to 10 trillion won ($7.7 billion) this year from 2.8 trillion won in 2021, with Naver currently holding about 60% market share, according to Kyobo Securities.

Persons: Yonhap, Philipp Schindler, Naver, 1,291.1600, Joyce Lee, Stephen Coates Organizations: YouTube, South, Lotte, Kyobo Securities, Thomson Locations: SEOUL, South Korea, Naver, KS, Lincoln

☆ Alphabet, Meta lure back advertisers as smaller rivals expected to struggle
▼ + stars: | 2023-04-27 | by ( Sheila Dang | ) www.reuters.com time to read: +3 min

This year, though, the social media ad market is expected to grow at a slightly faster pace than in 2022, according to a report last month from media and intelligence firm MAGNA. "Advertisers are simply going back to platforms they know, like and trust," said Brian Mulberry, a portfolio manager at Zacks Investment Management. The social media advertising market overall is expected to grow 6% this year to $66 billion, according to MAGNA. Last year, the social media ad market grew 2% in part because privacy updates by Apple Inc (AAPL.O) made it more difficult for advertisers to gather user data to serve targeted ads. Digital pinboard company Pinterest is expected to post a 3% year-over-year rise in quarterly revenue on Thursday, according to Refinitiv data.

☆ YouTube offered shopping features for viewers to buy merch during the Coachella livestream event, part of its continued testing in the space
▼ + stars: | 2023-04-26 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +3 min

YouTube sold merch virtually during the official Coachella livestream event. Viewers could purchase the merch exclusively through YouTube Shopping. YouTube Shopping partnered with Coachella to sell exclusive merch during the platform's annual livestream event. The Coachella products were made available for purchase directly on the livestream and through YouTube shorts on Coachella's YouTube channel. Alphabet execs mentioned YouTube's shopping efforts during its Q1 earnings call on Tuesday, highlighting that there were more than 100,000 stores connected to sell products on YouTube Shopping.

☆ Alphabet CEO Sundar Pichai earned $226 million last year, making him one of the world's best-paid bosses
▼ + stars: | 2023-04-22 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Sundar Pichai, CEO of Google owner Alphabet, was paid a total of $226 million in 2022. Alphabet also spent almost $6 million on personal security for Pichai, according to a filing. Alphabet's Sundar Pichai was paid a total of $226 million last year after he was awarded a big tranche of shares, making him one of America's best-paid CEOs. The chief executive of Google's owner was given worth more than $218 million, according to filings published Friday. Alphabet also spent almost $6 million on personal security for Pichai, according to the filing.

☆ Google CEO Sundar Pichai made $226 million last year
▼ + stars: | 2023-04-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Sundar Pichai, the CEO of Google and Google’s parent company Alphabet, made nearly $226 million in 2022, according to a new filing from Alphabet. It is a big boost for Pichai, who made just over $6 million in 2021 and $7.4 million in 2020. Pichai’s stock boosts come every three years, in 2019 he received a similar package of $281 million. Ballooning CEO compensation has been a controversial topic in recent years. The vast majority of Cook’s 2022 compensation — about 75% — was tied up in company shares, with half dependent on share price performance.

☆ YouTube Shorts surpassed 50 billion daily views, a bright spot for Alphabet as it faces fierce competition from TikTok and declining ad revenue
▼ + stars: | 2023-02-03 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +3 min

YouTube Shorts now sees more than 50 billion daily views, up from 30 billion the year prior. Shorts' growth was a rare bright spot for a quarter where Alphabet saw declining revenue in segments like Search, YouTube, and advertising. Some creators are already contemplating moving more of their content over to YouTube Shorts because of this. This provides potential for YouTube Shorts if the company can draw people away from TikTok. Instagram, which Meta owns, has its own short-form video product called Reels.

☆ Googlers prize 'psychological safety,' but it won't save them from layoffs
▼ + stars: | 2023-01-25 | by ( Rebecca Knight | Shana Lebowitz | ) www.businessinsider.com time to read: +6 min

Some Google employees said the company's layoffs violated its commitment to psychological safety. Research suggests that psychological safety is critical to team success and helps drive creativity, build resiliency, and improve decision-making. "It's so important to be clear that psychological safety is not the same thing as job security," Amy Edmondson, a professor at Harvard Business School who pioneered research on psychological safety, told Insider. Google execs said psychological safety doesn't guarantee job securityAt the all-hands meeting, Google's leadership took issue with the notion that it breached its commitment to psychological safety. "Psychological safety is about interpersonal dynamics, not about economic or organizational reality," he told Insider, adding, "You can still have psychological safety without necessarily having job security."

Insider obtained recordings of the Google all-hands meeting, along with screenshots of employee comments, questions, and other reactions. Why weren't Google managers warned? During Monday's townhall meeting, employees asked why so many managers were left in the dark about the job cuts. Read more about Google's responses here: Google employees pressed leadership about why managers weren't informed before announcing layoffs of 12,000 workersWas a big activist hedge fund involved? Do you work at another Big Tech company?

☆ A laid-off Google employee said she felt 'betrayed' and 'reduced to a dollar sign' when the tech giant cut her job
▼ + stars: | 2023-01-24 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

An ex-Googler said she felt "betrayed" and "reduced to a dollar sign" after being laid off. In a LinkedIn post, she said she was "disappointed" with how the tech giant executed the layoffs. Google announced 12,000 layoffs Friday, with staff across all facets of the company impacted. Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. Philipp Schindler, Google's chief business officer responded: "If you interpret psychological safety as removing all uncertainty, we can't do this."

☆ Stunned Google staff want 'psychological safety' after layoffs. 'How are we supposed to ever feel safe again?' one employee asks in a tense all-hands meeting.
▼ + stars: | 2023-01-23 | by ( Rosalie Chan | Hugh Langley | ) www.businessinsider.com time to read: +4 min

"How can we reestablish psychological safety for Googlers after these layoffs?" A third employee, based in the UK noted Google has stressed that "psychological safety is paramount." 'If you interpret psychological safety as removing all uncertainty, we can't do this'Philipp Schindler, Google's chief business officer, weighed in on the topic of psychological safety during the all-hands meeting. Google's SVP and chief business officer Philipp Schindler Matthias Balk/picture alliance via Getty Images"If you interpret psychological safety as removing all uncertainty, we can't do this," Schindler added. Brian Glaser, who heads Google's people development team, reiterated Schindler's comments that a big part of psychological safety is about being able to have "real" conversations with each other.

☆ Meet the little-known Google exec steering the company's $209 billion ad business through an uncertain economy and the minefield of privacy concerns
▼ + stars: | 2022-12-24 | by ( Ryan Joe | ) www.businessinsider.com time to read: +10 min

Jerry Dischler is steering Google's $209 billion ads business through major challenges. It falls to him to reinvent digital advertising to keep its $209 billion ad business going. At the same time, he has to keep growing Google's ad business amid increasingly dour spend forecasts. He went on to search ads in 2008, and by 2009, he was overseeing Google's team that developed new ad formats. Even when some parts of Google's ad business slows, as YouTube and Google network ads did last quarter, it gains strength in other areas, such as search.

☆ YouTube, a major Google growth engine, grinds to a halt as advertisers pull back. It's not going to get better in the key holiday quarter.
▼ + stars: | 2022-10-26 | by ( Tom Dotan | ) www.businessinsider.com time to read: +3 min

YouTube ad revenue fell 2% from last year, the first time the platform showed a decline in revenue. For years, YouTube has been Google's ad revenue growth engine. The video unit posted its first ever year-over-year decline in ad revenue, as advertisers pulled back due to the uncertain economy. The results raised questions about YouTube's long-term revenue growth potential. Google executives tried to minimize the significance of YouTube's decline by saying the company suffered from comparisons to its breakout growth last year.

☆ YouTube's shrinking ad business is an ominous sign for the battered online ad market
▼ + stars: | 2022-10-25 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

The online advertising market continues to suffer, as heavyweights Alphabet and Microsoft reported disappointing sales during their most recent quarters. Microsoft also reported a slowdown in its online advertising business. Indeed, the growth rate of that business has been shrinking each quarter of the past year, coinciding with the general downward trajectory of the entire online advertising market. Additionally, Microsoft's LinkedIn's quarterly sales growth shrank to 17%, down from 42% during the same period in 2021. Judging from the recent earnings reports of various tech giants, it's unlikely the Facebook parent is going to report any signs that the online advertising market is set for a rebound.

☆ Crypto winter is hurting Google's ad empire
▼ + stars: | 2022-10-25 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

A cryptocurrency price crash and the onset of a new so-called "crypto winter" has left many companies in the industry facing a liquidity crisis. Google's overall ad growth of 6% in the quarter was the weakest for any period since 2013, other than one quarter at the beginning of the pandemic. CEO Sundar Pichai said the "challenging macro climate" is having an impact on Google's ad business. Schindler referenced the crypto pullback twice, but he didn't provide any additional color or specifics. Additionally, Coinbase will move data-related applications to Google's cloud infrastructure from Amazon Web Services, which the company has relied on for years.

☆ Anyone Who Does Business With Google Knows Philipp Schindler
▼ + stars: | 2022-10-15 | by ( Miles Kruppa | ) www.wsj.com time to read: 1 min

Philipp Schindler, Google’s top sales executive, has his cellphone ringtone set to the “Star Wars” theme music. His office décor includes a collection of toy lightsabers, and he infuses presentations with references to the space epic. The props are fitting for a man tasked with convincing business partners and regulators that his employer’s huge influence over the digital economy is more a force for good than evil.

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