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>> Google's self-professed mission is to organize the world's information. But first, the company has to organize itself. Nearly two years ago, Google co-founder Larry Page announced the tech giant would be remade as Alphabet, a holding company for disparate and ambitious technological ventures, including Google, and so-called other bets, companies Google bought, like thermostat maker Nest, or the life extension company Calico.
Wall Street cheered. A Reuters tech corresponded, Julia Love, says the restructuring hasn't been smooth sailing.>> I think that so far, Alphabet has failed to show that it can convert these bets from speculative experiments into bona fide businesses that are meaningful enough to impact Google's bottom line.>> Each rung of alphabet that was given it's own CEO, but that hasn't stopped a steady stream of executives from leaving since their reorganization.
And that's hurting morale company-wide.>> Executives who I have spoken with say that this points to an underlying flaw in the structure, that these leaders are not given the autonomy that they really need to chart their own course. They still have to answer to someone. In the case of Nest, they felt that suddenly revenue targets were being emphasized much more than they were before.
And in the case of Boston Dynamics, these are academics who want to be doing pure research and the greater pressure that Alphabet brought to generate a profit was not welcome for those folks.>> Earlier this month Alphabet sold robotics Boston Dynamics to Softbank and at one point last year it was even looking to sell Nest, the largest of the so called other bets according to three people familiar with the discussions.
Alphabet declined comment for this story. But at the company's recent annual stockholders meeting, Alphabet leaders said the restructuring was playing out just as they had hoped.