It is apparent that Google is shooting for the moon based on its focus on transformative products. Although a great number of these projects have not been successful to date, Felix Salmon, business journalist, sees a connection between their newest company-wide Alphabet strategy and their team with the highest ambitions.
Google’s Tail Wags the Dog
According to Salmon, there are a number of ways in which Google X is similar to the backwards concept of the tail of the dog wagging Google. The aspirations of Google which are simply incredible are the epitome of the entire concept behind Google’s project Alphabet. This forward thinking and long term mindset is quite apparent as Google speeds up their healthcare investments.
Google Invests in Industry-Changing Technology
Nat Turner, CEO of Flatiron has been quoted by the Wall Street Journal as saying that Google is making an effort to invest in technology that is bringing about changes in industries that are much older and also fit well with their expertise in big data. This is based on Google Ventures investing a figure greater than $100 million in Flatiron. Flatiron is a fledgling that seeks to analyze cancer data. He further states that technology has yet to disrupt healthcare to any great extent.
Google the World’s 39th Largest Corporation
For years Google has been dominant as it is on the list of the world’s largest corporations. On its newest Global 2000 list, Forbes has ranked Google in position #39 with Search being a huge business bringing in multi-millions of US dollars. Even so, Google potentially faces disruptions such as their dependence on their connection to Apple. There are some concerns over how the business model of Search will be impacted by the evolution of mobile devices.
In the meantime, healthcare continues to be a huge business, a multi-trillion dollar industry and will continue to be so for the foreseeable future. The question now is whether or not Google can earn a share of this industry. Although it is too early on to say definitively, Google’s move to dramatically remake its model of doing business has given it a stronger position. The conjecture is that based on the ambitions of Google’s Alphabet companies, great things may also be in store for patients as well.
Whatever happens we’re sure that its going to be a fascinating next few years in the digital health space. Will this be the first of many global tech giants adopting a more direct model to tackle healthcare ?
Watch this space !