Interesting take on the split over at asymco.com.
Stock up 5% today. Woo hoo!
I think this is just the realization that these diverse businesses need different CEOs and management. Can the same CEO and management team oversee internet search, autonomous cars, medical products, home devices, etc? Probably not. Seems smart to create completely different businesses.
There must be some irony to Google creating a new name that lends itself so awfully to Googling.
Maybe they want media (like TV and movies) to stop using their corporate name as a verb without any licensing fees.
“I’m going to Alphabet that” is much less appealing.