How did I see this? I own shares in a Dutch company called Tom Tom that is one of the market leaders in navigation systems. Yesterday Google announced their entry into this market, and shares of Tom Tom as well as others in the market plummeted. I am of course not happy about the financial outcome for me. More importantly however, I am starting to see that the sheer size and reputation of Google is going to make it impossible for them to stand by their "Don't be evil" philosophy.
Thursday, October 29, 2009
Yesterday and today I felt first hand how giant Google has become and the negative effects it has on the world. I now see that while the stuff coming out of the Googleplex is often very cool, Google is in some ways becoming the Wallmart of the internet. As soon as they show up, everyone else is expected to go broke. What do I mean by that? Well online there aren't physical locations that companies compete in, but there are product spaces. And as soon as Google enters a product space, any companies active therein are suddenly second class citizens expected to be overtaken by the giant Google. So while the Google product may even be inferior, just the Google brand gives it the edge.