With billions in cash sitting around, and with passbook savings rates what they are, Google is always looking for ways to put its money to work, and now it's reportedly considering a formal structure to make sure its bucks are performing productively in the service of the company's greater goals. According to the Wall Street Journal, the search sovereign, following in the steps of a growing number of tech companies, is mulling creation of a venture capital arm. The Journal's sources said David Drummond, Google's senior vice president of corporate development and chief legal officer, would head the investment unit, assisted by a new hire, William Maris, a 33-year-old investor and former entrepreneur. Google has generally preferred straight-up acquisition to investing, though it already does an impressive amount of the latter, some through its philanthropic arm, Google.org. This shit couldn't happen to a nicer bunch of billionaires.
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So, how much is enough?
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