Google can boast of a breathtaking run of successes since it first sold shares to the public 10 years ago this week. What began as a search engine has since moved ahead with ventures that have disrupted several traditional industries. And there are new bets such as Google Glass and cars without drivers.
Google is one of the technology companies that emerged out of the ruins of the dotcom collapse at the turn of the century. Since then, it has joined others such as Apple, Facebook and Amazon in transforming millions of digital lives across the world.
The Schumpeterian creative destruction that allowed these firms to emerge will also test them some day. There are two big concerns. One, will they be able to innovative continuously so as to see off nextgen challengers? Two, will the dominance that comes thanks to network effects make these firms too big for the good of the world?