Google CEO-What Are The Biggest Threats Companies Face?
Google, which has been at centre stage for its anti-competitive strategies, the company's CEO has made a bold statement about "competition" and its "side-effects" at a recently held conference in Beverly Hills.
The US Department of Justice has accused Google of stifling competition in the search engine market by paying “enormous sums".
But Google CEO Pichai also thinks that "thinking about competition" is the worst thing a company can do for itself. "I have always held the view that you tend to go wrong by focusing too much on competition," Pichai said. "Big companies, particularly, fail because they stumble internally," the CEO said at the Code Conference.
Pichai did not mean that one should never look at what your competition is doing. He's not suggesting that your competition is never a threat at all. The Indian-American CEO suggests that you're more likely to fail because of what's happening inside your company, not outside.
“Competition comes from nowhere," said Pichai. “You know, none of us were talking about TikTok three years ago”.
Google's parent company Alphabet Inc has faced a decline in its stock price in the past year as the recent economic slowdown has hit many tech firms' advertising-based income.
Therefore, Google, one of the biggest employers in technology, is tightening its belt. Recently Pichai hinted at possible layoffs in the company.