Recessions are good for markets.
They show us where the rot is, where the poor performers are.
This current one is no exception. It revealed that some of our Cloud Czars, the companies dominating the global economy with hyperscale datacenters paid for with cash flow, aren’t as clothed in gold as they seem. Some are downright naked.
Early this month, I identified one source of rot and urged Jeff Bezos to fire Amazon.Com CEO Andy Jassy. But it’s also time for two other founders to get back in the game. Larry Page and Sergey Brin need to push out Sundar Pichai.
Pichai is the kind of numbers-oriented manager Wall Street loves, but Silicon Valley should despise. He’s the kind of go along, get along guy who can make the trains run on time, but completely lacks vision. In technology this is a fatal flaw.
It’s obvious in how he dealt with artificial intelligence, the new hotness of 2023.
This is not about firing an ethicist. It’s a more basic failure to see where things were going, and deploy the necessary resources to get there.
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