“(Google) definitely sees uncertainty ahead, like everyone else.” remarks Alphabet CEO Sundar Pichai on the current state of affairs at an interview with CNBC. However amid all the hubris, there’s a glimmer of hope in technology. As he quips in another interview with YouTuber Justine that technology has a lot of potential in touching the lives of people.

He also said he thought the economy would “take time to work through” the current high rate of inflation.

“What gives uncertainty is there are so many different factors, be it supply chain issues or be it rising energy prices,” Pichai said.

“I do think people are seeing relief in certain sectors,” he suggested, pointing to travel as an example. “But then you have other new areas which are showing problems, maybe due to supply chain constraints. … Energy has been an issue, as an example. In some cases rentals have gone up, and food prices.”

The Nasdaq is headed for its steepest quarterly drop since the finish of 2008, when the economic system was in the throes of the housing disaster. Consumer prices jumped 8.3% in April, the Bureau of Labor Statistics stated Wednesday, larger than anticipated and near their 40-year excessive of 8.5%.

Shares of Google dad or mum Alphabet have fallen about 22% this yr, plummeting alongside the rest of the tech sector as fears of inflation and larger rates of interest push buyers into belongings which are seen as safer throughout a possible downturn.

Alphabet’s earnings in late April fell wanting analysts’ estimates, largely on account of an enormous miss at YouTube, which was hammered together with different digital advert corporations in the first quarter.

Executives pointed to weaker YouTube advert spending in Europe after Russia invaded Ukraine in February.

Although Alphabet’s stocks are down by 22% this year, one of the most valued companies in the world ain’t on the brink of collapse. The company certainly took a toll like everyone else did during the pandemic and the aftermath of Russian aggression in Ukraine. With the economy down the drain and the bear bros of recession and inflation on the tails, most tech companies like Google will have a slumping growth in the next quarter. However Pichai states that the company is resilient. Google went through the same in 2008. “We take a long term view,” Sundar remarks.

Although there are other industries like travel that are seeing some relief, says the Google boss. However uncertainties lie ahead in the sectors like supply chain and oil, it is contributing to rising rentals and food prices! Amid all the doom and gloom Google is excited about what lies ahead.

Alphabet boosted R&D by 22 % in the first quarter. The company is spending big time on keeping ahead of the curve as other tech behemoths like Microsoft and Meta are foraying into the Metaverse.

Speaking of the evolution of Google’s native products Pichai says that the company always responds to the users as it wants the best experience for ‘em and it also challenges Google to do better.