Tech

What is the biggest threat companies face? Response by Google CEO Sundar Pichai


Search engine giant Google, which is at the heart of anti-competitive strategies, the company’s CEO made a bold statement about “competition” and its “side effects” at a conference. The conference was held recently in Beverly Hills.

The US Department of Justice has accused Google of stifling competition in the search engine market by paying “huge sums”. The Justice Department accused Google of anticompetitive behavior for paying large amounts of money to big tech companies to maintain its dominance. in the search engine market.

But Google CEO Pichai also said that “thinking about competition” is the worst thing a company can do for itself. “I have always been of the opinion that you tend to be wrong when you focus too much on competition,” says Pichai. “Big companies, in particular, fail because they stumble internally,” the CEO said at the Code Conference.

Pichai adds that most businesses spend more time worrying about competition than they need to. As a result, they spend less time on important things.

Pichai doesn’t mean one should never look at what your competitors are doing. He’s not suggesting that your competition is never a threat. The Indian-American CEO is suggesting that you’re more likely to fail because of what’s happening inside your company, not because of what’s happening outside.

“You want to be aware of everything that is going on outside,” Pichai continued. “But at the end of the day, your success depends on your performance.”

“Competition comes from nowhere,” says Pichai.

TikTok, a popular Chinese video platform, has skyrocketed to become one of the most popular apps in the world.

Google’s parent company Alphabet Inc has faced a significant drop in share price over the past year as the recent economic downturn has affected the ad-based earnings of many tch companies. Alphabet also missed its earnings and revenue estimates for the second quarter of 2022.

As a result, Google, one of the biggest employers in the tech sector, is tightening its belt. Recently Pichai hinted at the possibility ax in the company because he wants to make the company 20% more efficient after years of rapid hiring.

“We want to make sure as a company when you have fewer resources than before, you’re prioritizing all the right things to do and your employees are actually so productive that they can really have an impact on what they’re doing. that’s what we’re spending our time on,” he said

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