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Google and Online Currency?

By - April 08, 2004

googleNot sure entirely what they’re on about in this eMarketer report, as it’s an excerpt, but the suggestion is made, after lengthy throat clearing, that Google create its own online currency so as to compete in the SFO (Search Find Obtain) space. The article correctly points out that Google lacks muscle in the Obtain part of the equation, compared to Amazon and EBay. But then it says Google should get its own currency. I don’t think so. But, what do you think?

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  • http://www.whizspark.com/pete Peter Caputa

    They are obviously not strong in facilitating purchase transactions. However, they are the strongest in the so called “search and find” areas. Although, I wouldn’t rest on my laurels if I were google, I’d say building out something from scratch in the purchase department, isn’t an immediate necessity.

    I do think that Google is too heavily reliant on text ads as its lone income. It seems that online marketing goes through phases, with new forms of advertising always popping up and being more effective than the last. Think of email marketing, which continues a slow decline in profit from a list owner perspective. Or think of how online banner ad networks were at the top of the heap. If history repeats itself, I don’t imagine that textads will be the reigning king of online advertising forever.

    Therefore, I do think they should diversify their revenue streams. Combining with ebay would be a quick way of doing that. Ebay’d mesh well with the google corporate image. They are both the best at what they do: I’d vote ebay the king of facilitating transactions over amazon. Further, Ebay and Google both empower the individual.
    I see amazon as the microsoft of facilitating transactions by trying to control too much.

    And a google-ebay combination would demote yahoo back to grade school. That’d make things interesting in the google/yahoo rivalry that’s been hotting up.

  • http://www.whizspark.com/pete Peter Caputa

    oh… and the currency thing… here is what Seth Godin wrote in the pdf book that this article references:

    He wasn’t really referring to an actual currency that would compete with national currencies. For the record, I also think that is a pretty stupid idea…unless maybe they want to bring back the gold standard.

    “Now that Google has a relationship with all its users and with millions of sites, it can start to truly unify the web. I think they ought to do this by inventing a web currency. And do it quickly and well, before Microsoft screws it up.
    Because Google can get all the sites with plexes to cooperate, creating a standard here isn

  • wag

    Its time for people to stop smoking the Google crack. Google is a great search engine but its not godlike. And most users don’t want to pay for content.

  • http://willets.org Kendall Willets

    You know, maybe Google should start selling crack. It’s a great way to get customer loyalty.

  • http://www.whizspark.com/pete Peter Caputa

    you better watch using Google’s name in vein! Google knows all, you know? LMAO @ google crack.

  • http://willets.org Kendall Willets

    Well, it would go well with their next product, Google Cavity Search.

  • http://speed.insane.com/ Scott Johnson

    We’ve already got a fairly simple web currency with Paypal. Many sites accept donations with Paypal. I don’t personally know of any that require payment via Paypal for access, but I don’t think they would be very successful. As wag said above, the people typically just don’t want to pay.

  • http://worcester.typepad.com/pc4media Peter Caputa

    John…were you trying to allude to A9 with this post?

  • http://www.mydishnetworktv.com dish network

    I agree with you!