Google company news & updates


12 Jan 2012
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Google no longer a technology company: PayPal co-founder

Global e-commerce company PayPal's co-founder Peter Thiel has said internet search giant Google has run out of ideas and doesn't know how to spend its money.

"Google also has 50 billion dollars in cash," Thiel said during a technology conference also attended by Google chairman Eric Schmidt.

"It has no idea how to invest that money in technology effectively ... if we're living in an accelerating technological world, and you have zero per cent interest rates, you should be able to invest all of your money in things that will return it many times over. The fact is you're out of ideas," he added.

According to The Sydney Morning Herald, Schmidt countered that the company had no deficit of business models, but instead suffered from real-world constraints.

"What you discover in running these companies is that there are limits that are not cash. There are limits of recruiting, limits of real estate, regulatory limits," he said.

Thiel shot back saying, 'Google is just a search engine, and no longer a technology company'.

"Then the intellectually honest thing to do would be to say that Google is no longer a technology company," the paper quoted Thiel, as saying.

"It's basically a search engine developed a decade ago. That's why all these companies are building up hordes of cash, because they don't know what to do with it, but they don't want to admit they're no longer tech companies," he added.

Onward joins Google
At Onward, we’re focused on transforming the way people communicate with computers. Back in 2015, we were amazed by the rapid advancements in artificial intelligence — particularly in natural language processing and machine learning — and were convinced there was real opportunity to put those technologies to work. So we started Onward with the mission of allowing computers to participate in natural, human conversations.

It’s been an exciting ride ever since then. We began as a bootstrapped startup working out of our living room in a Brooklyn apartment. From there, we relocated to San Francisco and were fortunate enough to grow the Onward team and expand to clients across the globe. Throughout this journey, we’ve remained focused on unlocking the magical experiences that are possible when computers understand the subtleties hidden in a user’s actions and messages.

Today, we’re announcing the next step on that journey — Onward is joining the Google family! With Google, we’ll be able to expand the reach of the technologies that power Onward. These core technologies are what got us excited in the first place, and we are excited to bring them to Google.
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