Chunka Mui gave the closing keynote at the recent annual meeting of NIRI, the National Investor Relations Institute. Following that address, he engaged in a wide-ranging interview conducted by Michael Santoli, a senior editor of Barron’s. Santoli writes the “Streetwise” column, offering a forward-looking take on the financial markets, illuminating market trends and themes and identifying investment opportunities. Below is the video of that interview, divided into five parts.
As we wrote in our recent white paper, “Beyond Fear and Greed: Capitalizing on Opportunities in the Current Crisis,” immense opportunities await companies with the stability and wherewithal to take advantage of the recession and their competitors’ adversity. China seems to agree with us. Although some people have reasoned that the global downturn would hurt Chinese companies because they depend so much on exports, and would perhaps even cause political instability in the country, recent articles say Chinese companies are trying to take advantage of the crisis by being aggressive.
Because Google is now an 800-pound gorilla, it’s hard to remember just how slight its prospects were at birth a decade ago. If Yahoo hadn’t made Google the default search engine on the Yahoo site in 2000–giving Google both broad exposure and a big endorsement–it’s easy to imagine that few people would ever have heard of Larry Page and Sergey Brin. Now, the Wall Street Journal reports that Microsoft had its own version of Google technology being developed around the same time that Page and Brin were starting their company–but killed it for fear that the technology would cannibalize other revenue streams. Imagine how little chance Google would have had in a competition with Microsoft in the late 1990s, when Google was just a handful of people and a few million dollars of venture capital.