Alphabet Inc (GOOGL) Chairman: Big Rift In Internet Coming Soon

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GOOGL – Former Google CEO expects a massive rift in the internet in coming years.

The former leader of Alphabet Inc (NASDAQ:GOOGL) recently made a stunning prediction for the future of the internet.

CNBC has the details from a conference last week:

Eric Schmidt, who has been the CEO of Google and executive chairman of its parent company, Alphabet, predicts that within the next decade there will be two distinct internets: one led by the U.S. and the other by China.

Schmidt shared his thoughts at a private event in San Francisco on Wednesday night convened by investment firm Village Global VC. The firm enlists tech luminaries — including Schmidt, Jeff Bezos, Bill Gates and Diane Green — as limited partners, then invests their money into early-stage tech ventures.

Specifically, Schmidt said that “I think the most likely scenario now is not a splintering, but rather a bifurcation into a Chinese-led internet and a non-Chinese internet led by America,” in response to a question on what the chance is that we wind up with separate internets in 10 to 15 years.

Google is reportedly working on a project to bring a censored version of its search engine to China, which would mark its first foray into the market in several years.

Alphabet Inc shares closed at $1,172.12 on Friday, down $19.45 (-1.63%). Year-to-date, GOOGL has gained 11.27%, versus a 10.35% rise in the benchmark S&P 500 index during the same period.

GOOGL currently has a POWR Rating of B (Buy), and is ranked #8 of 54 stocks in the Internet category.

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GOOGL Current Price $1,119.63 0.85%
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GOOGL Price Reaction

The day of this event (Sep. 23, 2018)
GOOGL Closing Price$1,179.56 0.63%
GOOGL Volume1,557,400
16.61% from avg
Leading up to this event
GOOGL 1-mo return4.02%
After this event
GOOGL 1-day return1.82%
GOOGL 3-day return2.92%
GOOGL 5-day return3.01%

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