Without getting distracted by unfounded rumor, it's important for the Google investor to judge Google's ability to extend their dominance of search and web advertising into new domains, because this will mean the difference between a great company at $110 per share, and a world-changing enterprise at $1,100 per share.
Google continues to rock Wall Street with pristine financial results, which is important. But more importantly, Google is changing the worlds of technology and media, and these changes have yet to be completely factored into the share price.
More observers are now sensing foreshocks of a Googlequake:
- I've posted repeatedly that the Google Web Accelerator product, which was left for dead earlier this year, is still very much alive. The pace of new releases for this product is increasing -- I just got another new version today. GWA was a Big Deal when it was released, and with the other tremors we're feeling in the internet, it's likely to be a central part of the new Google Grid.
- Om Malik speculated that Google is building a national Wi-Fi network to bypass the cable and telephone dinosaurs that are currently the network gatekeepers. Today, Malik posts that Google is building a fiber network that "can really only mean that Google ultimately hopes to push massive amounts of voice, video and data close to the end user."
- There's much more discussion now about Google TV, which would bypass the big media conglomerates who are the current content gatekeepers with rich video served at the pleasure of the user, not at the dictate of a corporate central planner.
- Google hired Vint Cerf, legendary father of the internet, to help Google "bring even the wildest Internet visions into reality."
- Google Talk is a minimal IM client, but has excellent voice call quality. Which just goes to show that Google can develop Skype-like technology that eBay will spend up to $4 billion to purchase. Obviously, eBay senses the sea change in the web, and perhaps a coming Googlequake. Google Talk, by the way, would be an ideal application to run over Malik's GoogleNet.
- Google raised another $4 billion last week to add to its own cash warchest.
Update Sept 20 10:31 A.M.: Google Wifi is more than just rumor. CNN reports that a beta VPN client for "Google Wifi" is now available, as well as a FAQ. Om Malik, the author of the GoogleNet article, has an update today, and InsideGoogle complains that about how this rhymes with the Google Web Accelerator -- of course it does, since GWA is a fundamental part of the architecture for the Google Grid. It's a Big Deal, remember?