Monthly Archive: August 2015

C is for Conglomerate

Recently I found myself toying with the new .XYZ top level domain, checking whether anything interesting might be available.

Naturally I tried abc.xyz which, predictably, was taken. Makes sense, right? Since something like ABC would naturally tend to snag a new TLD to match, or since someone like me, but faster, would snag it on a whim.

Some whim!

Google is now under an umbrella of many disparate companies in one, but as Alphabet, rather than as Google. It becomes one of many. I found out about this in the middle of the night, just before going to my “day job,” seeing the announcement at that time.

My overwhelming thought about it since then has been: Didn’t we used to call this a conglomerate? Those were all the rage, decades ago. Breaking those up to extract shareholder value was all the rage fewer decades ago.

Still, if being a conglomerate is effectively a done deal already, it makes some sense to brand the conglomeration differently from the original and presumably still most major component of the conglomerate. One could poke fun at the name, but hey, this is a company that called itself Google and wound up taken utterly seriously.

My secondary thought: .XYZ will be taken seriously as a TLD in a way that it might not have been.

I Didn’t Realize It Was THIS Bad

However, this corroborates my view that there is indeed a new/continued housing bubble and, naturally, the potentially for it to fuel another crash. I’m lucky to be in an apartment with rent that doesn’t routinely increase, but what was barely affordable market rent ten years ago is now slightly less affordable below market rent. In a world in which we need either an even larger apartment or, better still, a house rental. Neither of which will happen any time soon, though certainly they will happen sooner than home ownership. The only way I’ll ever own property is if I pursue my old dream of buyng a piece of insanely cheap land in the middle of nowhere so I can at least camp out on it now and then, perhaps build a cabin getaway, or if the housing market fully crashes next time and I am in a position to take advantage of it. It was a big surprise to me that houses didn’t deflate to what they were worth in the last crash, and tended still to be overpriced. The house next door last sold in a $100,000 short sale, at a price that was somewhere between 20 and 70 grand more than I’d have considered appropriate.

Walter S. Mack Jr

Don Surber has been running a series of posts on exceptional Americans, with the first set now in book form. Many of them are, naturally, people from the world of business, invention and innovation.

Today’s example was a real education for me, as I did not know the history of Pepsi, or how there came to be a longstanding two cola rivalry.

Read about Walter S. Mack Jr and how he turned an obscure drink owned by a candy company into a huge success, at the same time helping to normalize racial equality of opportunity.