Describes Google's history, business model, governance structure, corporate culture, and processes for managing innovation. Reviews Google's recent strategic initiatives and the threats they pose to Yahoo, Microsoft, and eBay. Asks what Google should do next. One option is to stay focused on the company's core competence, i.e., developing superior search solutions and monetizing them through targeted advertising. Another option is to branch into new arenas, for example, build Google into a portal like Yahoo or MSN; extend Google's role in e-commerce beyond search, to encompass a more active role as an intermediary (like eBay) facilitating transactions; or challenge Microsoft's hegemony over the PC desktop by developing software to compete with Office and Windows.