Today a group from Google flew in to visit us at ThinkCash. We spend a ton of money with them so we get special attention. They met with our search marketing team for a couple of hours and then took us all to Lonesome Dove for lunch.
A few observations:
1) I’m long on GOOG. Google dominates online advertising (among other things) and at almost $700 per share the company’s stock reflects their success. But only 7% of the $300 billion spent on advertising each year (in the US alone) is spent online. The other 93% is spent on traditional offline media such as TV, radio, newspaper, etc. Google has its crosshairs aimed squarely at those dollars. And the offline ad business is ripe to be disrupted — there is an incredible amount of inefficiency and waste in that market. The Google team showed us some pretty revolutionary stuff today. They want to be THE marketplace for all advertising and they’re perfectly positioned to pull it off.
2) The Internet is quite literally changing the face of business. Of the 5 “Googlers” that visited us today, 4 were women, 1 had dreadlocks, 1 had a tattoo on the back of her neck, and I think all of them were under 30. There we were taking about an 8 figure business relationship and I’m looking around the room for adult supervision. Then I realized that I was the adult supervision. One of the things I love about the Internet industry is that pedigree and experience matter less than ability and passion.
3) I rode back to the office with MikeD from our marketing team and he gave me a demo of his iPhone. It may be the most amazing product I’ve ever seen. I remarked to Mike that it’s like it came from 10 years in the future. There are so many breakthrough features that the iPhone is really in a class by itself. I want one.