CNBC: Alphabet and Google CEO Sundar Pichai interviewed by Deirdre Bosa.
CNBC
Google CEO Sundar Pichai Said while the consumer was in Covid pandemic In rearview mirrors, the economy is clearly more and more concerned for companies and wider markets.
Pichai told CNBC’s Deirdre Bosa in an interview at Google’s annual I / O conference in Mountain View, California on Wednesday. “The good thing is that we have been a company for some time. [We] Whether in 2008 or in the early days of a pandemic, we have overcome these past moments. We have a long-term perspective. “
He also said he thought the economy would “take time to overcome” the current high inflation rate.
“What gives uncertainty is that there are so many different factors, whether it’s a supply chain problem or rising energy prices,” he said.
“I think people are looking at relief in certain areas,” he suggested, pointing out travel as an example. “But there are other new areas that are showing problems, probably due to supply chain constraints. For example, energy is the issue. In some cases, rents have risen and food prices have risen. . “
The Nasdaq Since the end of 2008, when the economy was on the verge of a housing crisis, it is heading for the sharpest quarterly decline. Consumer prices According to the Bureau of Labor Statistics, it surged 8.3% in April, surpassing expectations and approaching its 40-year high of 8.5%.
Google parent stock alphabet This year it fell by about 22% and plummeted to the side. Remaining technical department Concerns about inflation and high interest rates push investors into assets that are considered safer in the event of a potential recession.
Alphabet Revenue In late April, it fell short of analysts’ estimates, primarily due to major mistakes on YouTube. Hammered With other digital advertising companies in the first quarter.Executives pointed out weak YouTube advertising spending in Europe Russia invades Ukraine During February.
“Obviously when you are serving [ads] The economy as a whole …. Many macroeconomic factors, such as GDP growth, will also affect advertiser spending, “Pichai said.
Pichai said the economic story is not all fate and darkness. Based on a comment from Alphabet CEO Philipp Schindler last month, he pointed out that people are moving again. This is an important sign of Google’s core ad unit.
“We are definitely seeing the trip recover,” Pichai said. “There are obvious signs that people are moving after a pandemic, which can return to normal, but it is so much that it gives uncertainty, whether it is a supply chain problem or rising energy prices. There are different factors in the. When all of these are added together, there is uncertainty. “
Pichai points out that the company’s technology investment is an important way to survive the era of weakness and keep its business strong, with plans to delay or withdraw hiring in certain areas. I didn’t.
“We want to be resilient in these moments. We are very excited about future opportunities. So we are investing. We continue to hire and are great. Bringing talent. There are areas where we are looking at mundane things like conversions to the cloud and digital. [we] We continue to invest. “
Alphabet boosted R & D spending in the first quarter to $ 9.1 billion, up 22% year-on-year, despite economic uncertainty and market volatility.
He also mentioned the diversification of companies across many business areas as a source of strength.
“We are investing in basic technology and are involved in different areas. Therefore, we are diversifying in several ways. Obviously, there are important products such as search and YouTube. Android, Play, There are computing products, including hardware devices. The cloud is also a great opportunity for us. I think we are exposed to many areas, and we are doing this globally as a company. And I think it allows us to look at these stages in the long run. “
Alphabet and Google CEO Sundar Pichai is interviewed by CNBC’s Deirdre Bosa.
Source: CNBC
Google started the meeting on Wednesday Announcing a new smartphone Teasing Augmented reality glasses Use artificial intelligence to translate spoken words into on-screen text. Facebook parents Meta When Microsoft We are also working on AR devices.
Google needs to spend time catching up with its competitors in a rapidly evolving market, especially with the advent of TikTok, a short video service that is hugely popular with young consumers. Google’s response to TikTok’s YouTube Shorts is growing rapidly, with more than 30 billion daily views as of late April, up from 15 billion in January.
“We need to meet what our users are looking for,” Pichai said. “We are trying to give them the best experience, so we feel we are trying to do better.”
He also said Snapchat, Pinterest — All of this didn’t exist a few years ago, “he said, saying that smartphones and mobile ecosystems are creating new opportunities of all kinds.
“We must always be agile and adapt, which is how we feel when we come to work every Monday,” he said.
Freedom of speech issue
He also addressed the balance between freedom of speech and content moderation on the Internet. New attention Recently and Elon MuskPlanned acquisition of twitter..
“I grew up in a large democracy. I think freedom of speech and the importance of speaking out to people are really fundamental,” said Pichai, born in India. “Searches represent what is on the web today. We only remove those that violate the law.”
“Products that can encourage and amplify content, such as YouTube, have community guidelines, so they clearly state their policies and take action, which maximizes their freedom of speech. .. [to] It helps keep the platform safe for everyone involved. “
He also talked a bit about the company’s approach to content moderation. “I think it’s important to give people a sense of transparency. There are many ways to achieve that. For example, publish community guidelines or, in the case of search, how evaluators rate search quality. “I think it’s important to do it in a way that spammers and others trying to avoid your product can’t do as well,” he added.
“I’m a big fan of Twitter. I think it’s a very important product for the world. I’ve learned a lot and I think it’s worth the investment,” Musk said of his Twitter plans. rice field. In the long run … I think it’s important because it plays an important role in a democratic society … I hope to continue to improve our products. “
look: “We now like big tech stocks like Amazon and Apple,” says Laura Martin of Needham.