Larry Page:
What is Alphabet? Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main internet products contained in Alphabet instead. What do we mean by far afield? Good examples are our health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity). Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related.
This is crazy. In short, Google will become a sibling to a bunch of other companies, and Alphabet will replace it as the parent organization, including on the stock market. Sundar Pichai will become Google’s next CEO, which is an obvious choice, and I think a good one.