CNBC’s preview of Google’s annual meeting for shareholders later this afternoon underscores two of Google’s vulnerabilities: 99% of its revenues come from one product, search advertising, and its one product is at risk, due to click fraud.
Google did little to address the risks it faces at its Press Day. From a product extension point of view, yesterday’s fanfare was underwhelming and the potential click fraud liability bombshell was skirted, once again.
I second my colleague Phil Wainewright’s assertion “Google’s profits under attack” and quote Bill Gates’, convicted monopolist (as Google reminded us yesterday), and richest person in the world (still) assessment of today’s search capabilities:
We'll look back on this time and realize that search is pathetic. If I ask for something, I should get it, not a list of things to click on. It's great for where it is, but it will get so much better...
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