Google's Larry Page explains the new Alphabet
Here's the full text of the letter from Google CEO Larry Page announcing his company's restructuring.
The following is the text of the letter Google CEO Larry Page wrote explaining his new umbrella company, Alphabet.
August 10, 2015
G is for Google.
As Sergey and I wrote in the original founders letter 11 years ago, "Google is not a conventional company. We do not intend to become one." As part of that, we also said that you could expect us to make "smaller bets in areas that might seem very speculative or even strange when compared to our current businesses." From the start, we've always strived to do more, and to do important and meaningful things with the resources we have.
We did a lot of things that seemed crazy at the time. Many of those crazy things now have over a billion users, like Google Maps, YouTube, Chrome, and Android. And we haven't stopped there. We are still trying to do things other people think are crazy but we are super excited about.
We've long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes. But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant.
Our company is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet. I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President.
What is Alphabet? Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main internet products contained in Alphabet instead. What do we mean by far afield? Good examples are our health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity). Fundamentally, we believe this allows us more management scale, as we can run things independently that aren't very related.
Alphabet is about businesses prospering through strong leaders and independence. In general, our model is to have a strong CEO who runs each business, with Sergey and me in service to them as needed. We will rigorously handle capital allocation and work to make sure each business is executing well. We'll also make sure we have a great CEO for each business, and we'll determine their compensation. In addition, with this new structure we plan to implement segment reporting for our Q4 results, where Google financials will be provided separately than those for the rest of Alphabet businesses as a whole.
This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google. A key part of this is Sundar Pichai. Sundar has been saying the things I would have said (and sometimes better!) for quite some time now, and I've been tremendously enjoying our work together. He has really stepped up since October of last year, when he took on product and engineering responsibility for our internet businesses. Sergey and I have been super excited about his progress and dedication to the company. And it is clear to us and our board that it is time for Sundar to be CEO of Google. I feel very fortunate to have someone as talented as he is to run the slightly slimmed down Google and this frees up time for me to continue to scale our aspirations. I have been spending quite a bit of time with Sundar, helping him and the company in any way I can, and I will of course continue to do that. Google itself is also making all sorts of new products, and I know Sundar will always be focused on innovation--continuing to stretch boundaries. I know he deeply cares that we can continue to make big strides on our core mission to organize the world's information. Recent launches like Google Photos and Google Now using machine learning are amazing progress. Google also has some services that are run with their own identity, like YouTube. Susan is doing a great job as CEO, running a strong brand and driving incredible growth.
Sergey and I are seriously in the business of starting new things. Alphabet will also include our X lab, which incubates new efforts like Wing, our drone delivery effort. We are also stoked about growing our investment arms, Ventures and Capital, as part of this new structure.
Alphabet Inc. will replace Google Inc. as the publicly-traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet, with all of the same rights. Google will become a wholly-owned subsidiary of Alphabet. Our two classes of shares will continue to trade on Nasdaq as GOOGL and GOOG.
For Sergey and me this is a very exciting new chapter in the life of Google--the birth of Alphabet. We liked the name Alphabet because it means a collection of letters that represent language, one of humanity's most important innovations, and is the core of how we index with Google search! We also like that it means alpha‑bet (Alpha is investment return above benchmark), which we strive for! I should add that we are not intending for this to be a big consumer brand with related products--the whole point is that Alphabet companies should have independence and develop their own brands.
We are excited about...
- Getting more ambitious things done.
- Taking the long-term view.
- Empowering great entrepreneurs and companies to flourish.
- Investing at the scale of the opportunities and resources we see.
- Improving the transparency and oversight of what we're doing.
- Making Google even better through greater focus.
- And hopefully... as a result of all this, improving the lives of as many people as we can.
What could be better? No wonder we are excited to get to work with everyone in the Alphabet family. Don't worry, we're still getting used to the name too!
Larry Page
CEO, Alphabet
How to Use ChatGPT to Summarize a Book, So You Don't Have to Read It
Got a huge TBR pile? Here's how AI could summarize the key points from a business productivity book. Whether you should do it is another question entirely.
I have a goal to read one book a month. On my weekends, I cozy up on the couch with my coffee, and my phone in another room. The point of this ritual is to create space in my schedule that's unbound by time and to-dos -- but as my reading list grows, I find myself trying to get through more pages and more books.
I wanted to see if I could use artificial intelligence to summarize the main concepts, lessons and wisdom of a book I knew I wouldn't get to for months, or even years. Keep the beautiful prose for the physical page, but use AI to summarize non-fiction business books, for example.
I picked Deep Work by Cal Newport to test run on ChatGPT. After using various AI tools, I thought ChatGPT, one of the best-known text prompt chat tools, would do the job best. I also have the $20 a month paid membership, so I wanted to make the most of it.
Ponder on the parameters
If I've learned anything about AI, it's that the preprompt thinking is just as important as the first prompt. I didn't just want a huge summary of the book. I wanted to learn Newport's big ideas, arguments, strategies and frameworks regarding deep work, so I could apply it in my work.
So, I started the chat with some expectation-setting.
- First, ask ChatGPT if it has access to the whole book.
- Tell ChatGPT that I want deep insights, not a superficial summary.
- Ask for suggestions on how to apply the key strategies to my freelance business.
- See if it can pull from reviews and reader commentary for more surprising and actionable takeaways.
Prompt 1: "Do you have access to Cal Newport's book, Deep Work?"
I learned that ChatGPT doesn't have access to full manuscripts -- due to avoiding plagiarism and respecting intellectual property rights -- and would just summarize from the existing information about it online.
Not ideal, but I had an idea. I found a 6-hour audiobook YouTube clip, so I asked if it could use that to summarize the book for me.
But no such luck. It told me to watch the video.
Watch a video for 6 hours? No thanks.
There are over 32,000 reviews of the book on Amazon, so I thought maybe there's enough commentary on the book to come up with an in-depth summary. So I started over from this angle.
Next prompt: "I haven't read Cal Newport's book, Deep Work. Highlight the key ideas, concepts, strategies and frameworks, so I can apply to my business as if I've read it. I don't just want a summary of the book."
ChatGPT had a hard time interpreting "comprehensive," spitting out a ton of suggestions. It also started to give advice without asking me about my line of work, like "educate your team on the importance of deep work and provide training on time management and focus techniques" and "allocate dedicated blocks of time for deep work on your calendar." It also gave generic suggestions like "focus on tasks that provide the most value and minimize time spent on low-value activities."
All pretty vanilla advice, if you ask me. Time to apply the pressure, one question at a time.
I still wasn't getting any breakthrough insights, so I kept pushing.
OK, ChatGPT, off to the Swiss countryside I go.
I wish.
I asked for an example of deep work in 2024, and we started to get somewhere. I liked one suggestion, about batching shallow work.
While I do this instinctively, it was a helpful reminder to batch tasks and watch context switching.
Getting Google involved to keep ChatGPT on track
At this point, I was using ChatGPT to ask random questions, like if there's a limit on deep work hours.
It said 4 hours max of deep work per day.
I remember a concept I like called the manager-maker schedule, which details the two main schedule types. As a writer, I'm on the maker schedule, meaning blocks of uninterrupted time are critical.
I had to do a quick Google search of the key lessons in the book so that I knew what insights to prod ChatGPT for. Apparently "productive meditation" was an important takeaway, so I asked for more details about that.
Finally, a new concept. Deep work isn't just head down at desk time.
This strategy was the unlock -- looking on Google for nuggets in summaries, then going back to ChatGPT to expand. When directed, it was great.
I scanned a second summary and found another concept that sounded interesting: keeping a compelling scoreboard. ChatGPT helped unpack the concept.
The TL;DR?
If you want to use ChatGPT to learn about a book, you'll have to spend at least 30 minutes browsing reader summaries yourself and use the most interesting ideas to frame your prompts. This inevitably takes a chunk of your potential deep work time. You can't just ask the AI tool to do it for you.
Once you get on the right track that way, you might discover one concept that changes your productivity or perspective -- but ChatGPT still isn't as good as just reading the book yourself.
You also have to consider that since ChatGPT doesn't have access to the actual book, and only summaries and reviews that are available online, you may not even be getting accurate key points.
And whether using an AI summary defeats the purpose of a book about deep work is still up for debate.
Samsung Galaxy S24 Ultra Slashed to Low Price on Amazon
Score an unlocked Galaxy S24 Ultra for just $10 more than the lowest price we've ever seen.
If you're a loyal member of the Samsung ecosystem, listen up. Upgrading to the latest and greatest flagships often comes with a hefty price tag, unless you can score a great deal. Released earlier this year, the Galaxy S24 Ultra is a top-of-the line, premium phone with all the bells and whistles you can imagine. And right now you can save almost 30% on the unlocked version of this phone at Amazon, scoring one for just $949. That's just $10 the lowest price we've ever seen. But act fast, a deal this good won't last forever.
This phone is a powerhouse. It comes equipped with a large 6.8-inch dynamic AMOLED 2X QHD Plus display, 12GB of RAM and 256GB of storage. It also has a 50-megapixel camera with 5x zoom, includes an S Pen and has the AI features everyone is talking about, including Live Translate and Circle to Search, giving you everything you'll need to get things done. It also has a solid battery life and is slated for seven years of software upgrades.
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One of our biggest gripes with this phone was the expensive $1,300 price tag, but it still earned our top spot for best premium Android phone for 2024, and this massive price cut makes it an even better option. We're not sure how long this deal will last, so act soon to lock in this low price.
Not a fan of this particular phone? We've got plenty of other options for you, so check out our roundup of the best phone deals happening right now for big savings on a plethora of other models.
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Apple's M3 MacBook Air Laptops Are Now Cheaper Than Ever Before at Amazon
This is your chance to save a whopping $250 when buying the latest MacBook Air, no matter the screen size you want.
The Apple M3 MacBook Air is a lightweight and powerful laptop, but nobody would say that it's a bargain, considering its $1,100 asking price. But, unusually for Apple's latest and greatest models, you can currently take advantage of an incredible $250 savings across both the 13- and 15-inch models. These prices are the best that we've seen to date, bagging you a new laptop for as little as $850. However, we don't know how long these prices are going to last and that means that placing your order sooner rather than later is definitely a good idea.
The current MacBook Air lineup sports gorgeous 13.6- and 15.4-inch Retina displays and a blazing-fast M3 chip. That chip is paired with 8GB of unified memory, as well as a 256GB solid-state drive. Other notable specifications include a 1080p FaceTime HD camera and a battery that will no doubt outlast your desire to get stuff done. It'll charge via one of the USB-C ports if required, while a dedicated MagSafe 3 charging port is also offered. Use that and you'll have two free Thunderbolt/USB 4 ports available for connecting docks and accessories.
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We think that the MacBook Air is a great machine, but it won't be for everyone. Those who need extra power or a bigger display but still want to live and play in the Apple ecosystem should definitely check out our list of the best MacBook deals before placing an order for something else, too.
CNET is always covering a wide array of deals on tech products and much more. Start with the hottest sales and discounts on the CNET Deals page, and sign up for the CNET Deals Text to get daily deals sent straight to your phone. Add the free CNET Shopping extension to your browser for real-time price comparisons and cash-back offers. And peruse our gift guide, which includes a full range of ideas for birthdays, anniversaries and more.
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How Much Will Social Security Increase in 2025? Here's What Experts Predict
A new Social Security COLA forecast hints at what you can expect from your monthly checks in 2025.
How much more will you get from Social Security next year? The Social Security Administration 2025 COLA will reveal all.
How much more in Social Security benefits will you receive in 2025? If you already get monthly Social Security checks or you're looking to sign up to do so, it's likely you're eagerly awaiting the COLA increase announcement. Analysts have offered their predictions on how much extra money you could be getting with your benefits for the next year, and there are ways to calculate how much you may get per check already. But the COLA adjustment could mean significant changes to how much money you have to play around with each month.
Each year, the Social Security Administration adjusts how much it pays in benefits to account for inflation through an annual cost-of-living increase. The Social Security Administration announces the official COLA adjustment in October, but as we get closer to the fall experts can look at monthly inflation trends and get a good idea for how much Social Security retirement benefits will change.
The latest estimate gives us a closer glimpse as to what could indeed be the official rate when announced in a few months. We'll give you the details. For more, check out the Social Security payment schedule and here's how to apply for Social Security benefits.
What is COLA?
To keep up with the effects of inflation, Social Security recipients usually receive an annual cost-of-living adjustment, aka COLA, with their January check. The adjustment is based on the average change over time in the prices paid for consumer goods and services and is determined by the Bureau of Labor Statistics in the Department of Labor. The COLA is set in the third quarter of each year.
Which government benefits make benefit adjustments using COLA?
Social Security isn't the only government benefit that is affected by the COLA. Social Security Disability Insurance, Supplemental Security Income, Medicare, Supplemental Nutrition Assistance Program (including food stamps and other programs) all make use of COLA to account for inflation when setting benefits.
What could COLA increase be in 2025?
COLA for 2024 is 3.2%. Looking ahead, the Senior Citizens League -- a nonpartisan advocacy group for senior citizens -- after looking at this year's monthly inflation trends forecast COLA will be 2.63% for 2025
The adjustment is closely watched by seniors because the annual COLA change is designed to help them keep up with rising costs. And while the annual COLA increase has been as high as 8.7% in recent years, some say it's not enough to cover inflation. According to a Senior Citizens League survey, 69 percent of respondents said their household costs rose faster than the COLA last year, with costs for food and housing leading the way.
COLA Increases Year Over Year
Year | Increase over previous year |
---|---|
2024 | 3.2% |
2023 | 8.7% |
2022 | 5.9% |
2021 | 1.3% |
2020 | 1.6% |
Note: The Social Security Administration normally announces the adjustment the second week of October. The new rate goes into effect the following January.
Keep in mind that these are estimates that can change every month based on the previous month's inflation rate, and though they tend to be somewhat in line with the official rate, they're not always spot on.
For more, check out how to apply for Supplemental Security Income and our Social Security and SSDI cheat sheet.