Google is drastically under-monetized.
For the owner of about 70-80% of all search engine traffic, Google is way under monetized.
They make buttloads from their Adsense ads, but as most internet-preneurs know, Adsense is about as inefficient as it gets when you're talking about making money online.
I wonder if Google realizes that if they made physical products, they would have free advertising right in front of 80% of the online world. If they manufactured their own products and entered the e-commerce sector (selling physical products online), they could bring in literally billions more in revenue. And it would almost be for free, since they already own the marketing channels. All they would have to do is stick 1 little ad for their own products at the top of related search engine results.
It's too bad (for Google) that they are a technology company, and are probably too far removed from manufacturing to even realize its potential.
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