Google combines Maps and Waze teams in restructuring move
wsj.com
wsj.com
Google Maps is one of the services which actually does some minor damage to me. Delivery drivers usually blame me for not finding my street, while GMaps data is what is the problem. I've had one delivery person stuck in snow and require technical assistance in another street, because Google Maps shows my street there.
I cannot get Google to change my street name to correct legal one.I've tried 'suggesting an edit' it at least 10 times. There is no support to contact to or anything. I've looked. They say I don't have any proof that my suggested street name is correct - but I even add a link to Google Street view which has a literal street sign with correct name and coordinates. I tried official street registry links. Still rejected. It is insane.
I personally can use openstreetmap.org, but delivery drivers and etc. - they don't use it. So I am stuck in this non-sense.
Yes, Finland is a bilingual country and some southern cities have official names in Swedish, but this town was a full 300km from the southern border and zero of the street names had official Swedish alternatives. Google just decided to autotranslate all the street names with no fallback.
People complained, Google didn't care. At one point after a few weeks it just magically reverted back.
Not only is the portuguese pronounciation pretty bad most of the time (in their defense streets can have very annoying names over here), they don't use location to expand acronyms, so the state/province-managed highways ("SC-401" etc) get read aloud as "South Carolina 401". Couldn't be more wrong.
I'm not sure how this happens. Most of the time, only the English (even though I use the UK variant) voice does this incorrect substitution, but in some occasions the portuguese voice can try saying the english words "south carolina" with portuguese pronounciation, which is hilarious in a disappointing way.
(Maybe the pt-BR voice model knows to pronounce SC as humans do, just the letters, but the acronym expansion happens in text, before voice is involved, in some code paths? No idea, just guessing)
Google Maps' decision as to which street names to translate to German when using voice directions seemed completely arbitrary. Numbered streets I could kinda understand (e.g. First Street was called out as "Erste Straße"), but others were perplexing: it insisted on calling Rainbow Blvd. "Regenboden Boulevard" despite using (non-translated, but German-accented) English for every other nearby street.
If I was a German-only speaker, looking at street signs, I would have been lost.
(This was also an educational experience re: dark patterns. I eventually had to switch back to English, because I repeatedly almost got tricked into clicking "yes" instead of "not now" on things I didn't ever want to enable. Despite my having repeatedly opted out in English, Google almost got me to "consent" in German because my language skills there weren't as good.)
A typical Danish name might be Ny Munkegade -- new monk's street. Google maps directions produce "noy mun keg ade", which is utterly incomprehensible.
Sometimes the lane guidance also likes to pick up on the destinations from the overhead signs, trying to pronounce the Finnish and Swedish names with less than stellar results.
So Google did care?
At this scale, change takes time to unfold due to bureaucracy and technical reasons.
Other mapping source datas (TomTom, HERE) all fix mapping issues, even if takes time to get it approved. For Google, it's a blackhole, the only way to get it properly fixed was to reach out to a contact at Google to raise it internally.
The first couple of times it happened we were walking into the lobbies of neighboring buildings scouring for our delicious 8-corner.
Finally we figured out the mapping API they were using was wrong and asked Google to correct it.
I am now happy to report our 8-corners get delivered to the correct building lobby.
USPS knows what they are doing, but packages delivered by other services sometimes just don't show up. Delivery drivers are constantly confused; we have made a habit of putting long instructions in the order notes about the actual location. Sometimes this even works.
My best guess so far is that they request driving directions using GPS coordinates for my address, which leads to GMaps reserve-mapping it to the neighbouring street, which is closer to the building but the drivers will face a fence. Food drivers usually leave the packages to a neighbour, Uber drivers make angry phone calls and claim that I'm not at the pickup point. Customer service keeps blaming me for failing to enter my address and location properly, so my improvement suggestions go nowhere past the first tier support.
I have to favour services with a proper localisation, usually the ones not developed around a mobile app.
All of the possible choices invariably lead drivers to the wrong location.
No one at Uber read anyting like “myths programmers believe about addresses” it seems.
Also, my country (Portugal) has a postal code that almost uniquely identifies my house, and both Google Maps and Waze ignore it in favor of hand-wavy parsing of the rest of the address.
I have the same, but my friend from the UK has the opposite. Does it depend on the country ? Where I live, when I use Google maps, it sends me into fields on roads that are gone already for ages while Waze works perfectly... Google maps sends me to places I cannot get out of or continue (so narrow that I cannot continue or turn and have to drive backwards to get out) etc.
It might be, but in my opinion, most of these problems can be solved with two minute call with a real person who has elevated access to Google Maps edits. This would save people months of frustration.
I never had any problems with other big tech support. Only Google
According to Google Maps my hotel was a 20 minute meandering walk through the blistering heat.
Thankfully, I've been in the very hotel already and new this to be garbage information.
Actually you just walk up some steps and three minutes later you arrive at the hotel.
When I told that to the proprietor he just groaned and told me that it took him years of effort to get Google to correct the street route they had marked to his hotel.
Let's just say this made quite a dent in my confidence in all things Google.
Do the report from the app on a phone while you're at the location and take a picture of the sign yourself. I've had more success this way. I think it logs that you're actually looking the place while reporting and finds it more trustworthy.
Maybe ask more people to do it!
Regarding OSM data, I think Google does not use any of OSM data, otherwise they would have to credit it and I don't see it credited. I don't think that OSM has any impact here.
Please don’t do a small insignificant change in OSM just because it might trigger something somewhere else. Make changes to improve the map data in OSM!
This is the thing that I hate the most. It wouldn't be so bad if they kept a zoom level where I could see what's coming up, but they zoom in super tight until the phantom merge point is passed. If I'm traveling 60 mph and I have to cut across 3 lanes of busy traffic in less than a tenth of a mile, I'd like to have a fucking heads up. When cruising on the interstate, I'd like to know my exit number without having to scroll past all the instances where the number of lanes changes on my way there.
My Garmin GPS from 2007 had a better UX than this.
I'm used to the speedtrap, speed limits and general crowd sourced alerts in Waze. I remember seing this in google maps, but it disappeared again. I don't know if my location (Denmark) has something to say about that?
That being said, the estimates that waze give me, especially for sudden accidents, are way off. I'm told it's better in the Copenhagen area, due to more users on the road, but where I live, it's almost non-existant.
[1] https://www.radioarabella.de/geisterfahrer-wir-warnen-sie-in...
About two years ago I had an opportunity to run a "for fun" experiment. My family and another family went on vacation together but I had to come home a couple of days early due to business travel. Because of vehicle sizes, I ended up taking the other car home -- which was a small luxury SUV with a high-end radar detector ... somewhere inside the damn thing[1]. I had Waze up. For whatever reason, between two different states, the roads were teaming with traffic enforcement. When I stopped to fill up, I grabbed a small notebook and a pen and kept score: Radar/Waze with ticks under "Cop Missed", "Cop Found", "False Positive". The radar was worthless. It had lower false-positives than I'd expected (I remember those things going off all the time for nothing) but when it went off, it went off too late. It missed more than half of them.
Waze, on the other hand, had very few false positives. I suspect some that I marked "false positive" were really me failing to see the police officer[2]. This was "8-hours of highway (non-turnpike/toll)" and there was a police officer every 5 miles (I went 2, maybe 3 pages in tick marks on a hand-sized spiral-bound $0.99 gas station notepad). I don't even know that I bothered calculating everything out completely. For one, Waze did not miss a single speed trap that entire drive. Where I live (metro to a major mid-west city), it's rare that I'm the first reporter or that I see a cop that Waze isn't alerting me about already.
Beyond police, the reports for disabled vehicles (by law you must move one lane over where I live) is very helpful for both "ticket avoidance" and safety (if you care enough to follow the rules).
I prefer the Google Maps interface -- and generally everything else about it over Waze, but I use Waze 99.9% of the time and for every drive. I have it setup to not speak the directions because much of the time I'm traveling to places that I am very familiar with the routes (I might follow a suggestion over my own preference, though, because "Waze tends to be more right"). I use it, entirely, for the social reporting features. Though Maps, at one point, added this (is it still there?) it wasn't even close to the quality of that provided by Waze. I'm really hoping they "put the social features into Maps" and I'll switch to maps or "move the UI more toward Maps in Waze" and I'll continue using Waze.
[0] For context, I'm not an aggressive driver ... I don't drive that much any longer as it is so I tend to be a lot more cautious these days. But it's way too easy to not notice a 10-15 MPH speed limit change accidentally and driving laws are among the small set of laws that are more often broken unintentionally, than intentionally.
[1] I would have had no idea what the insane beeping was all about but it was a brand that a friend of mine owned growing up and I recognized the tone ... but he had it installed in a manner that it you'd never know there was one in the car except for the sound (they're illegal in Canada which they traveled to frequently). It was a very expensive model outfitted with the latest Radar Detector Detector Detector Detector Detector (odd or even number, I can't remember). I had no idea how to silence it so I was afraid I'd get pulled over and guarantee myself a ticket for having it.
[2] Where I live, on-ramps make great speed traps. If positioned just so, you can't see them until they're behind you, and you can't see them in your passenger mirror at all if it's a typical mirror/aimed the way most drivers aim them -- requiring you to turn your head to locate them (something you're probably not in the habit of doing while chilling at highway speeds).
My wife recorded her voice in Waze and I love hearing from her telling me "turn left, honey", "be careful, there's cops ahead!"...etc.
I used to think the same until we A/B tested it a few times (Maps/Waze) with different cars going to the same destination.
Waze really was faster very time.
From personal experience, i've regretted ignoring waze because "i live here and know better" every time at rush hour.
I know these sorts of scenarios aren't a priority for them, but I'm surprised they don't even have a roughly accurate estimate given how much location tracking info they collect. If 40 people this year have driven a stretch of road with a range of travel times from 25-40 minutes, an estimate of 7 minutes seems pretty obviously wrong and easy to catch.
This results in 5-10 semis getting stuck every year. There is nothing that google is willing to do to help the state out. The state has put up signage telling drivers their GPS is wrong, and they ignore it.
This highlights that routing algorithms do not understand the concept of safe driving and cannot evaluate how dangerous it is to just pick any alternative route.
Waze routes have started to look more like maps routes though with the environmental gas saving trip focus instead of the most direct or fastest route.
I may try Apple Maps or something else. The waze directions don’t account for traffic and the capability to follow the directions.
I've definitely noticed this getting worse; it likes to suggest I do a zig-zag route across rural areas. If I didn't have to decelerate for a 90 degree turn it'd probably be much faster, but I do. Maybe the Maps devs are all in fast-cornering supercars.
Bad Google!
In the US I solely use maps
Waze doesn't seem to be aware of fords, but then, I wouldn't expect it to be.
I also like that I can tell Waze "I ain't afraid of tricky intersections", and that it's happy to take side-roads if it'll get you there slightly faster, which Google Maps prefers not to do.
And then she hit the final badge and that was it. She was crushed. Why can't they just keep making more badges?
Here is a screenshot of the feature I'm talking about: https://techcrunch.com/wp-content/uploads/2016/03/waze-plann...
Basically, I know I want to go to A, but I'm not sure when to leave, I just know I want to avoid as much traffic as possible, so when should I leave? The feature kind of answers that.
Faster adjusting to real-time traffic, better navigation UI, more importantly tells you where polices are but also other various things that are good to know beforehand.
Google maps is still useful to pre-plan a route, get information about businesses, restaurants, opening hours and just better overall building information with street view and such, but I'd never go back to using maps for navigation unless they do exactly as waze does.
The data sharing between the 2 services has mostly gotten them to a point where they both give very comfortable estimates about traffic.
Waze is still better because someone Maps will tell you to turn too early when Waze's timing is more realistic.
I saw the most spectacular failure like this on Good Friday this year, where I had to take a cross-town trip and Waze was telling my Bolt driver that it would take 2h+ (and trying to make them avoid all large roads), when in reality and in Google Maps, the city was essentially empty and the trip took ~30 minutes.
The 2h+ estimate was definitely correct for a normal day, but that day was part of a long weekend and no one was around, and yet Waze had absolutely no idea. Even on normal days, it typically significantly overestimates how long rush hour lasts by at least another hour.
Maybe this is somehow specific to my city, but at least it shows that in some places Google Maps and Waze use significantly different data (or weigh different sources very differently).
But we should find a better way to describe this than using language like "always" and "forever"...
Google says many things. Always believing them is a huge mistake.
What’s the benefit of Waze being a separate app at this point besides the brand name? Why not just fold it into the main Maps app?
Even if it’s just a GUI, different apps get you different experiences, and if you succeed it’s a bigger % of phone usage. People who mentally treat location searching and navigation as separate tasks (worthy of separate apps) are at risk of leaving for a competitor. So build two tools specific to each use case. It’s the Unix way.
I don’t know if this is the case, but it’s likely there is some left over legal issues to wrt user data.
I find the Waze experience on Carplay to be far superior to Gmaps. I prefer how it provides access to the key features like reporting/voice prompt, the size/position/color how things are displayed, etc. The level of detail (surrounding streets and landmarks) is more useful on Waze.
My experience has been that Waze seems to have better traffic prediction and avoidance in the areas I use it. Just last night I was following a cow orker from the plant we were working at to a restaurant about 30 mins away. We were right behind each other when my Waze suggested taking the exit and following a different route than my friend. I arrived at the restaurant a good 5 minutes before him, I asked, and he was using gmaps.
Disclaimer: I haven't used Waze in years so this might have changed.
There are differences in my region which make me think that the apps have different mapping and routing engines.
Turn by turn dirrections and road condition information are much more accurate in Waze. There's a larger Waze local community that helps keep maps up to date.
We do use Google Maps, but mostly as a Yellow Pages substitute or for checking business opening time.
2. Waze has features that google maps does not (?) s.a the "ETA histogram"
> [The] idea was that if each driver is making the optimal self-interested decision as to which route is quickest, a shortcut could be chosen too often for drivers to have the shortest travel times possible.
https://en.wikipedia.org/wiki/Braess%27s_paradox
Personally I'd rather not go through neighborhoods for just a tiny micro-optimization because of how much more "work/attention" is required given the increased pedestrian traffic.
For example I live near a busy road during "rush hour" in the morning and evenings. A few mins up the road from me 2 major roads intersect which causes more hassle during these peak times. Now If you are travelling West to East to wish to turn right at the intersection to continue your journey south its quicker during those times to cut though my neighborhood (and same in the other direction) and cut out the queues leading up to the intersection. However my neighborhood's roads are not designed for that much traffic to flow though them (cars parked in the street narrowing the roads and reducing visablity of pedestrians esp kids playing outside).
The handful of locals that travel though the neighborhood to get home (live one side but enter the other) are fine however if Google Maps routed everyone wishing to make that turn though the neighborhood it would make the neighborhoods roads much less friendly to the pedestrians of the neighborhood esp at times kids are going to school or are back home from school and playing outside.
Keeping the through traffic to the major roads keeps everyone safer, and actually faster overall because the major roads aren't littered with cards parked in the road creating bottlenecks.
Much like how the london underground lies to travellers and routes them around long detours during busy periods to help prevent a crush if they all went the shortest & fastest route possible - https://youtu.be/IrHRQSm6LIs?t=57
The thing is: what Waze does is borderline illegal, and it is regularly updated to still do its thing without getting struck down. Google Maps is "cleaner", and therefore much worse at detecting speed traps. I guess the questionable legality is a good reason for keeping these apps separate.
Once I showed my father-in-law the "police reported ahead" and "hazard reported ahead" features he was sold. He now demands Waze on every road trip and he's not especially tech-savvy. Google doesn't supply this same data.
Maps's use case:
> I used Maps just for finding new restaurants and other places.
It doesn't surprise me that Google's doing it, what's the point in having a monopoly if you can't use it to your advantage. It's not good for users though.
Very insightful post. And as much as a reader might think it highlights dysfunction at Google, the continued growth and success of Waze within Google argues otherwise.
Because remember, it's only "actual work" when this guy is doing it
> Young people want it all - they want to get promoted quickly, achieve economic independence, feel fulfilled at Work, be home early, not miss the Yoga class at 11:00am etc. Having trouble scheduling meetings because “it's the new Yoga instructor lesson I cannot miss” or “I’m taking a personal day” drove me crazy.
Based off of my own personal experiences, the yoga instructor thing is a gross misrepresentation. Not only this, but a highly dismissive, caricatured way of talking about people you work with
> I have always been a pretty passionate guy, especially at Waze. After the acquisition, I was invited to speak on many different Google panels and events and very quickly, I began racking up my HR complaints. I used a four letter word, my analogy was not PC, my language was not PG… I actually stopped speaking at events where the majority appreciated what I was saying but the minority that was offended by something (words and not content) made it a pain.
I wonder if it ever crossed this guy's mind that maybe he is the problem. At least he's broadcasting his own entitlement under his own name for everyone to see
Of course not: he's such a narcissist that this would never occur to him.
Lack of ability to communicate is not a good quality in any leader. Phrasing is as important as the message many times.
As a long-time Googler with very mixed feelings, I feel this deeply.
> Having trouble scheduling meetings because [...] "I’m taking a personal day" drove me crazy.
Yikes.
- Not being able to just fire people he didn't want anymore
- Having to spend engineering time on things like Privacy protection and Legal compliance
- Work life balance
- Employee entitlement
- Equity compensation being relatively stable, not a win-or-lose lottery ticket
... and then a bunch of rants about political correctness, not being allowed to say offensive things, pronouns...
Yikes is right! Holy cow!
> The worst thing is that this was inline with the policies and norms - I was the weirdo who wanted to push things fast and expected some level of personal sacrifice when needed. I don't believe long hours are a badge of honor but I also believe that we have to do whatever it takes to win, even if its on a weekend.
You're making map app dude, week later or earlier on a feature won't save the world
I agree with the author. It is somewhat shocking to me that so many employees in tech feel, or at least project, that being available during normal working hours is "kinda optional". And to be clear, I'm not talking about someone that has a real emergency. But to have the expectation that one should be available between 9-5ish is somehow considered "toxic" is just baffling to me. I'd also highlight that many professions, e.g. those that have shift work, are nowhere near as lax.
And according to your bio is Dropbox? Well good thing you let the whole HN know that Dropbox is toxic to work at.
Nahh they were pitching google to get the mega bucks so they could rest and vest on the roof.
The biggest problem arises when a workplace has a mix of employees who have different motivations and goals. Some may be content with just doing their job and going home, while others may be ambitious and want to do great things. This can lead to resentment and hostility when these different perspectives clash. It's the role of the HR department and recruitment to make sure you don't get too many outliers in any direction, but alas those are often doing really poor job with this. Not to mention that the quality of "being a good fit" has been branded "problematic" so it's often not even taken into account.
As the economy moves from a period of growth to a recession, the balance of motivations and goals among employees is likely to shift. And the amount of entitlement will reduce.
(Not in Silicon Valley, but...) I have never regretted sacrificing work for life.
That sounds like you're striking a balance. Obviously, if you "sacrifice" work too much, eventually you won't be able to afford your life, either because you'll be fired or your lax employer will suffer and not be able to pay.
Sometimes it takes a while to manifest.
Some of the most dysfunctional work environments I've worked in followed periods of great business success. The marketplace success can obscure a slow descent into workplace dysfunction. When the profits are rolling in, it's easy to have large swaths of dysfunctional managers and teams blend in, and nobody is looking too hard. It's when the profits come back to earth that the teams are forced to excise the dysfunction or face failure.
I'm amazed that it only have 10 comments...
Anyway, at all jobs (so far) I've deeply cared about the quality of our product and the company bottom line, which explains why I'm invariably miserable at big company jobs.
I can actually think back to explicit feedback when I was passed up for a promotion that boiled down to "improve brown nosing skills, even if it puts the core business at risk".
The core business at that particular former employer is imploding; I'm long gone, as are 90% of the people I'd like to work with again (many left for similar reasons).
Anyway, there were lots of forehead slapping moments for me while I read that post.
Having said that, the main insight was the central thesis of Office Space. Same shit, different horse, I guess.
Early stage equity is one hell of a drug.
As a founder/manager, it’s irrational to expect anything other than fundamentally different levels of output from each “ring” of growth on the tree, because the inputs are very different. Anybody would work much harder for inter generational wealth than they would for a cool $500k. It’s shocking how common it is for early people to project their personal expectations on others and experience dissonance as a result.
TCI sent Google a letter [1] telling them they need to cut people to get higher margins (>40%) as well as pay the investors more (stock buybacks).
Google is choosing to do what this group of investors says instead of supporting it's employees.
Just so you know.
[1] https://www.tcifund.com/files/corporateengageement/alphabet/...
Edit: This data came from me asking myself of the headline "ok who is it that is putting "Pressure to Cut Costs" on Google." Luckily TCI made it really clear
I think merging Waze and Google Maps teams is actually smart, whether it cuts cost or not seems like they have similar goals as a product.
That said, doesn't mean Alphabet won't head some investors letters or something, so its always possible
[0]: https://capital.com/alphabet-shareholder-who-owns-most-googl
These people are not forced to make more money at the expense of others. It's their choice.
Only if the Waze teams takes over for the Maps team..
Google Maps is TERRIBLE app, I hate it. and if the Maps team is going to start messing with Waze it will be ruined
Seriously, Google Maps being a all-caps TERRIBLE app? Come on. It's basically the gold standard.
Yes, they can. It’s called fiduciary responsibility, and shareholders sue for it all the time.
Management can just say “in our judgement X is the right thing to do, not Y”. Google is too big for TCI to try to gain control over.
TCI has a trivial stake in Google — at most, less than half of one percent of the company[0]. By voting shares, Larry and Sergey alone control >50% voting power[1]. TCI has nowhere near enough influence to move the needle in any appreciable way here.
[0] $6B / $1200B market cap (edit: to clarify, this is an upper limit, in practice it's even less because of super-voting shares owned by the founders)
[1] https://capital.com/alphabet-shareholder-who-owns-most-googl
Class A shares (such as TCI have) have regular voting rights. Class B shares (such as Larry and Sergey have) have 10x voting rights. Thus, as I understand it, TCI's voting voting power is at most roughly ~0.5. In practice, it's way less than that due to all the class B shares[0], reinforcing my point.
[0] https://capital.com/alphabet-shareholder-who-owns-most-googl
>GuruFocus data, as of 29 November 2022, revealed that 59.13% of Alphabet’s stock was owned by insiders, including the two founders, while 22.21% of common shares were owned by institutions including brokerage firms, hedge funds, pension funds and asset management companies.
Ownership percentage is only important because of how it lets them impact the stock price.
"Google Combines Maps and Waze Teams Amid Pressure to Cut Costs"
"...as the search giant faces pressure to streamline operations and cut costs."
"The activist hedge fund TCI Fund Management called on Alphabet to aggressively cut costs last month, writing in a letter to management that it thought the company’s head count was too high."
Are you suggesting that the WSJ is totally off base by drawing the conclusion that pressure from TCI, via this letter, is not the cause of the restructuring?
What a masterclass in logical fallacies.
The implication of the article is that generally investors think Google is too liberal on spending (anecdotally, I will tell you this sentiment is very real).
The WSJ used a specific and public example of someone putting that into writing, but if you think a non-Top 20 shareholder can convince Google to do something (that Google doesn't believe most of its shareholders want), then you really don't understand how corporate governance works.
Even the more aggressive well-known activists rely on the idea that they can convince more than 51% of shareholders to agree with them
Google is doing this because it thinks the majority of shareholders agree with it, otherwise they'd tell TCI to kick rocks (as often happens with activists, Google knows that no-one can actually buy enough shares to influence their management decisions, unlike some SMID caps.)
That's a misrepresentation of what the WSJ piece says. All the article is doing there is highlighting that there has been external pressure on Google to cut costs.
The excerpt you highlighted points out TCI's request for reduced headcount, while a few paragraphs earlier, the article says that there is no plan to reduce headcount.
Yes. In fact its off base enough that I don't think they actually make that claim in the article.
TCI holds something like .5% of alphabet market cap, that's less than is held by multiple individual human investors in Google, and likely less than rank-and-file employees hold collectively. It'd be weird to pay any attention to such a group.
>The company has too many employees and the cost per employee is too high.
>Headcount is too high.
>... the business could be operated more effectively with significantly fewer employees.
Yeah, cash-hungry hedge fund calling for layoffs. Got it. Yet here's an excerpt from the WSJ article on this restructuring:
>Google said it planned to maintain Waze as a stand-alone service and didn’t plan to conduct any layoffs as part of the reorganization.
Counterpoint - why would Google announce layoffs to the WSJ before it even happened? It’s possible that it’s in the works…
1. Google did the Waze Maps/Maps merger to appease TCI so they could prevent layoffs
2. The Waze Maps/Maps merger is unrelated to the TCI memo
Now, if Blackrock, Vanguard, Fidelity, Schwab, and all the pension funds got together, that might add up to something.
Which is true. And "many others" is a vapid, meaningless phrase.
However, proxies are voted in accordance with the "recommendations" of a very few advisory firms. That means that if you buy 10 million dollars worth of ETFs, all of those many, many shares are voted without your input. I'd certainly support legislation to give the "final" owners of those shares the right to vote the proxies themselves.
Maybe that's what you meant.
In the UK, being a salaried employee means you pay a rather high rate of tax, compared to other schemes used by rich people - like for example having some of the work done as charitable work, having mostly stock, getting paid via a company, etc.
TCI, who do not actually run the business, are threatening the CEO (addressed to Sundar) that they will move their money if Google doesn't do what they say - namely cut costs etc...
Is it more likely that TCI investors know how better to run Google than Google does or that they don't care and are blindly seeking alpha with no care for the people that run it?
The story seems about the same everywhere: When money was pouring and people were spending more time on their devices than usual, the projection was that people will just resign from the physical world and live in VR so hire as many people as possible but that projection looks silly now.
TCI is making the news for being an activist investor calling for layoffs because 1) the media is frothing at the opportunity to announce Google layoffs, even though none have been announced 2) the goal of an activist investor is to drum up support to make their activist wish happen.
Source: been on receiving end of such messages (bit smaller endeavor than Google though :-)).
Are "Property rights just for losers"?!
6 billion dollars worth or 0.5% of the market cap. Not so big
1) All shareholders will benefit including the employees who were well paid in stock.
2) When you sell an ownership stake you have to listen to owners. You might as well blame whoever decided to go public or sell the activist a stake.
3) Larry and Sergei have super voting shares and can block it if they want. But they probably want their shares to increase too.
Also, are letters like this normal? I have never seen a letter like this, but you always hear that all shareholders care about is money. And yet, here we are with a letter that brazenly says something just below “fuck all employees, we want more money just because we have you some money”. I mean, part of their argument is some random person’s quote that companies could be smaller. For one, that’s a weak and amateur argument for an investor to make. And sure, that’s probably true, but the tone of this email is extremely flippant towards anyone that isn’t themselves.
But TCI didn’t do that.
Misallocation of resources is bad for broader society. Great for those who benefit from the misallocation though
If I was Google I would tell them to take a walk if they want to.
Case in point: Why has Google had two navigation apps with entirely separate redundant teams for almost ten years?
How dare they. :rollseyes:
I doubt S&L will care.
Because that is unethical
Google is still growing revenue YoY despite 2021 being a huge year for online services due to pandemic shifts.
They’re making hundreds of thousands in net profit per full-time employee.
A dumb CEO would do layoffs at this moment. They don’t need to financially, and the morale hit (and lost productivity) could be disastrous for the company.
But yeah, since other companies are doing layoffs, Google should too.
Not really. TCI doesn't even appear in the top 10 [1], and even if they were, the Founders still hold controlling interest.
[1] https://money.cnn.com/quote/shareholders/shareholders.html?s...
> Reduce losses in Other Bets
> Over the last five years, Other Bets has generated only $3 billion of cumulative revenues but incurred a massive $20 billion of cumulative operating losses. Alphabet's investments in Other Bets have been unsuccessful. Alphabet should reduce annual operating losses in Other Bets (which we expect to amount to $6 billion this year) by at least 50%.
> The biggest component of Other Bets is Waymo. Unfortunately, enthusiasm for self-driving cars has collapsed and competitors have exited the market. Ford and Volkswagen recently decided to shut down their self-driving car venture, saying: "We have looked at this every way you can and we just see the profitability a long way out." Waymo has not justified its excessive investment and its losses should be reduced dramatically.
And is this kind of thinking just bandwagon, and not potentially accounting for some distinctive performance that Waymo may be on the verge of? (of course, seems like every AV company promises they're on the verge of something breakthrough)
Google as far as my understanding only shows fixed/permanent cameras.
Also why does Waze think train crossings are a huge deal. It seems to go to great lengths to warn me a bout them.
https://9to5google.com/2020/08/12/waze-railroad-alerts-app-u...
Sorry if that's wrong. This was a feature of my boyhood, but I've never seen it in California.
I used to have a high level of trust in Google Maps, but starting six months ago or so, the directions got substantially worse.
I think this is for the best of Google's interest.
I probably need to start using Apple Maps more often, don't I?
It is quite good at routing though. Of course this very strongly depends on where you live.
[0] as opposed to a "department" organization, not a "dysfunctional" organization
Pressure to reduce costs.
They keep doing UX changes which mess with muscle memory, that already make their product more unsafe - rather than improve the product itself.
Just when I thought I fled Google.
@&$/"!#%¥
That one time that I missed ... way back in 2013.
Google, I'm sorry I never clicked on any of those Waze ads for petrol stations or fast food.