$800M to support small businesses and crisis response
61–70 of 92 posts
Re: $800M to support small businesses and crisis response
#62This is NOT funding : - $250 million in ad grants ... - $340 million in Google Ads credits ... - A pool of $20 million in Google Cloud credits ... A company that has a Bazillion $ in the bank, has means to really make a difference. This is not. Edit/Clarification: The original title was: "$800M funding and grants to support ..". Now they changed it. I take issue with the claim of providing funding, and all they offer…
Re: $800M to support small businesses and crisis response
#63I think Google could afford to spend a couple billions more to fund the manufacturing and distribution of masks and ventillators, instead of announcing a support package with the bulk in ad credits. Also, Google employs some of the best marketers on the planet, they should be showing ads for how to wear masks correctly and for practical safety guidelines, and leverage everything they've learned about human psychology…
Not couple billions, but still the last bullet point is exactly what you're saying.
> Also, Google employs some of the best marketers on the planet, they should be showing ads for how to wear masks correctly and for practical safety guidelines, and leverage everything they've learned about the human psychology to disperse information that could save lives.
Google seems promoting the following link in their top page (which is perhaps one of the most valuable real estate in the internet).
https://www.google.com/search?q=coronavirus+tips&fbx=dothefi...
Re: $800M to support small businesses and crisis response
#64Reading the announcement is somewhat sobering though.
Most of it (590 million) are ad "credits" or "grants". Keep in mind that Google ad revenue in 2019 was 134 billion.
> $250 million in ad grants to help the World Health Organization (WHO) and more than 100 government agencies globally provide critical information on how to prevent the spread of COVID-19 and other measures to help local communities.
It seems odd to me that institutions are supposed to resort to advertising to be shown above all the false, misleading and inaccurate information.
Is the WHO supposed to have a marketing team optimizing ad spending on Google during a pandemic to rank higher than inferior sources?
There ought the be ranking mechanisms or other side channels to keep important information on top in case of a crisis.
This is like fixing a leaking pipe by forcing in water from the outside.
Edit: apparently all ads relating to Coronavirus have been blocked. See below.
--- Small beneficial side effect: for Google: this drives up the prices a bit for pharma and other companies trying to profit with Corona related topics.
> $340 million in Google Ads credits available to all SMBs with active accounts over the past year.
This sounds decent at first, but also seems more like a token gift on further thought.
I reckon the goal here is mainly to avoid losing those customers. Many SMBs are closed, struggling, and will reduce expenses where possible. Marketing is often the easiest to cut right away, and many of those might not return anytime soon.
The hardest hit businesses are those that had to close down (restaurants, shops, etc). They won't be spending money now.
While a small, free marketing budget is good to have , it will also help stabilize/raise prizes more quickly once everything opens again.
This way they keep those customers at least somewhat engaged and can also prop up the numbers a bit.
> A $200 million investment fund that will support NGOs and financial institutions around the world to help provide small businesses with access to capital.
This is certainly the most impactful. Assuming 70% of that money reaches businesses, it could amount in 14_000 loans of 10_000 each.
I'd assume those to be loans though, so the fund probably won't be much of a loss in the medium term.
Re: $800M to support small businesses and crisis response
#65I think Google could afford to spend a couple billions more to fund the manufacturing and distribution of masks and ventillators, instead of announcing a support package with the bulk in ad credits. Also, Google employs some of the best marketers on the planet, they should be showing ads for how to wear masks correctly and for practical safety guidelines, and leverage everything they've learned about human psychology…
Did you miss the last bullet point? > Direct financial support and expertise to help increase the production capacity for personal protective equipment (PPE) and lifesaving medical devices. We’re working with our longtime supplier and partner Magid Glove & Safety, with the goal of ramping up production of 2-3 million face masks in the coming weeks that will be provided to the CDC Foundation. Additionally, employees f…
Re: $800M to support small businesses and crisis response
#66If I was in the US now, my company and staff would qualify for a large number of help avenues, not to even speak of grants for our work on COVID 19. Over here? The AWS bill we pay monthly has doubled...because our currency has fallen that much. I won't meet payroll on Monday because clients have paused their work and payments to us...etc
Meanwhile here is all manner of funds seemingly available but just another new extra requirement out of reach.
As usual, the beneficiaries will be larger orgs and their army of consultants and friends.
Re: $800M to support small businesses and crisis response
#67Google is helping small businesses by providing Ad credits? Of all things a small business may need, Google thinks Ads are the solution? The response to this crisis has my cynicism and disdain for our system growing every day.
I pay for Google ads to generate leads for my business. We've seen a drop in conversion rate, but we're still generating leads which we really need right now to continue to operate. The problem is that the cost per lead just went up dramatically. These ad credits will solve that problem for us and allow us to continue to generate leads. This is exactly the kind of help my business needs right now.
Re: $800M to support small businesses and crisis response
#68I think Google could afford to spend a couple billions more to fund the manufacturing and distribution of masks and ventillators, instead of announcing a support package with the bulk in ad credits. Also, Google employs some of the best marketers on the planet, they should be showing ads for how to wear masks correctly and for practical safety guidelines, and leverage everything they've learned about human psychology…
> I think Google could afford to spend a couple billions more to fund the manufacturing and distribution of masks and ventillators. Not couple billions, but still the last bullet point is exactly what you're saying. > Also, Google employs some of the best marketers on the planet, they should be showing ads for how to wear masks correctly and for practical safety guidelines, and leverage everything they've learned abo…
I think we should stop giving them a pass. If they can spend billions on fines, it's possible that they could afford to spend a comparable amount to help people and save lives. Don't you find it insulting that the bulk of the support package is ad credits?
> Google seems promoting the following link in their top page
Only if you search for coronavirus tips and related terms, that is nowhere near the massive marketing campaign Google could pull off across their network to bring vital information to the public.
Re: $800M to support small businesses and crisis response
#69Earlier quoted context omitted.
>The House just passed a two trillion dollar relief bill. My understanding is it is $6T, with $4T going to the Fed so the bankers can make money with it...
Could you provide a source for that? A quick googling returned nothing for me.
It is true the vast majority of politicians and media are trying to not mention the $4T to the Fed for lending, I won't get into why that is happening (since I am being down voted and even a Googler is saying I am spreading a meme from 2009 what ever that means), so instead of me saying ask why media and politicians are trying to hide/downplay the $6T, maybe ask yourself why you can't even find this info by Googling?
>The White House and the U.S. Senate early this morning, March 25, agreed on a $6 trillion bipartisan economic stimulus package to combat the financial effects of the COVID-19 pandemic and assist the Federal Reserve. Some $2 trillion of the measure will assist businesses, workers, and health care systems.
https://www.dbusiness.com/daily-news/senate-and-white-house-...
Re: $800M to support small businesses and crisis response
#70Earlier quoted context omitted.
>The House just passed a two trillion dollar relief bill. My understanding is it is $6T, with $4T going to the Fed so the bankers can make money with it...
2010 called, it wants its memes back.