In an all-hands meeting with employees, Google Search head Prabhakar Raghavan shared about the new operating realities at Google and how the company is dealing with the challenges in the tech industry. According to a report by CNBC, Raghavan made it clear that there has been a lot going on at Google in the last three months. “Really high highs and low lows”, he told employees.
Hinting at cost-cutting measures and the new approach Google had adopted, Raghavan said the with AI, the company is in a “new cost reality” and that Google is ““spending a ton more on machines.”
“What that means is our growth in this new operating reality has to be hard-earned,” he said. Because the number of new devices coming aren’t what it used to be, organic growth is slowing down, he told employees, as per the CNBC report.
The senior Google executive also told employees to “act with urgency” based on market contusions and meet this moment. “It won’t be easy,” he said. “But these are the moments and the history of industries that will define us.”
He also said that Google is operating under tremendous regulatory challenges. “We’ve learned a lot the last few quarters,” Raghavan said. “I cannot tell you that all the stumbles are behind us. What matters is how we respond and what we learn," he added, according to the report.
He also said that people trust Google as a company. “People come to us because we are trusted,” Raghavan said. “They may have a new gizmo out there that people like to play with but they still come to Google to verify what they see there because it is the trusted source and it becomes more critical in this era of generative AI.”
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