GOOG's strong third quarter may be setting an unattainably high standard in the minds of investors and armchair critics. How would you like to be an Internet startup right now, generating losses, being judged based on some freakishly profitable model that one company stumbled into half by accident?
Google's own early balance sheets probably didn't look all that pretty, either. But what they did for the first four years of the company's life (and oh what a first four years they were) was to focus on building a company that mattered to people. Google's search market share appears to be over 50% in every market in the world. Without that, none of this would have happened.
Right now, there are tens of thousands of startups working away, innovating, trying to build companies and products that matter to people. It would be a shame if investors and observers tried to rush them to maturity or profitability.
Posted by Andrew Goodman
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