Patrick Pichette, ex-chief financial officer of Google. Photographer: Brett Gundlock/BloombergBLOOMBERG NEWS

Google’s former chief financial officer, Patrick Pichette, told journalists in the UK this week (see The Telegraph and Business Insider) that AI lab DeepMind could have been a national “champion” if it had remained independent and had the right set of support.

But is Pichette right? While the UK’s lack of tech giants is an issue for some, his comments seem slightly misplaced.

The ex-Google exec, who played a significant role in making DeepMind a US-owned company, reportedly told Business Insider: “Everybody’s celebrating that DeepMind was sold to Google. But if you take a step back, ask yourself, had it had the right set of support what would DeepMind look like today as a UK champion?… At the end of the day, it’s not a UK company any more. They are part of an American company.”

At the time of the $600 million acquisition back in 2014, DeepMind had no significant revenue stream, limited computing power and a lack of data to train its algorithms on. It was a long way from being a $100 billion-plus corporation.

At the time, SoftBank’s enormous Vision Fund didn’t exist so it would have been hard for DeepMind to raise the hundreds of millions it would have needed to remain independent and scale up. Venture capital investors and wealthy angel investors were always interested in DeepMind but the huge funding rounds that we’re seeing today weren’t common.

Under Google, DeepMind has access to what seems like a never-ending stream of capital, arguably the most powerful computing platform on the planet, and a huge pool of data to train its algorithms on. It’s also got access to thousands of incredibly smart Googlers, including Google cofounders Larry Page and Sergey Brin.

Pichette made his comments about DeepMind as he revealed that he wants to fund startups in Europe that have the potential to grow into Google and Facebook-style companies.

He believes that the main reason Europe hasn’t yet produced tech firms of this magnitude is that US tech giants prey on them.

“At Google, on average we bought two companies a week for the seven years I was there,” Pichette reportedly told Business Insider “If I didn’t take them out, Amazon would, Microsoft would. Both Canada and the UK have great early-stage ecosystems, but not a robust growth ecosystem.”

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Patrick Pichette, ex-chief monetary officer of Google. Professional Photographer: Brett Gundlock/Bloomberg BLOOMBERG NEWS

Google’s previous primary monetary officer, Patrick Pichette, informed reporters in the UK today (see The Telegraph and Company Expert) that AI laboratory DeepMind might have been a nationwide “champ” if it had actually stayed independent and had the ideal set of assistance.

However is Pichette right? While the UK’s absence of tech giants is a concern for some, his remarks appear somewhat lost.

The ex-Google officer, who played a substantial function in making DeepMind a US-owned business, apparently informed Company Expert: “Everyone’s commemorating that DeepMind was offered to Google. However if you take an action back, ask yourself, had it had the ideal set of assistance what would DeepMind appear like today as a UK champ? … At the end of the day, it’s not a UK business anymore. They become part of an American business.”

At the time of the $600 million acquisition back in 2014, DeepMind had no substantial profits stream, minimal computing power and an absence of information to train its algorithms on. It was a long method from being a $100 billion-plus corporation.

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At the time, SoftBank’s massive Vision Fund didn’t exist so it would have been hard for DeepMind to raise the numerous millions it would require to stay independent and scale up. Equity capital financiers and rich angel financiers were constantly thinking about DeepMind however the substantial financing rounds that we’re seeing today weren’t typical.

Under Google, DeepMind has access to what appears like a continuous stream of capital, perhaps the most effective computing platform on earth, and a substantial swimming pool of information to train its algorithms on. It’s likewise got access to countless extremely wise Googlers, consisting of Google cofounders Larry Page and Sergey Brin.

(****************** )Pichette made his remarks about DeepMind as he exposed that he wishes to money start-ups in Europe that have the possible to turn into Google and Facebook-style business.

He thinks that the primary factor Europe hasn’t yet produced tech companies of this magnitude is that United States tech giants victimize them.

” At Google, typically we purchased 2 business a week for the 7 years I existed,” Pichette apparently informed Company Expert “If I didn’t take them out, Amazon would, Microsoft would. Both Canada and the UK have terrific early-stage environments, however not a robust development community.”

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262609420592″ >

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Patrick Pichette, ex-chief monetary officer of Google. Professional Photographer: Brett Gundlock/Bloomberg BLOOMBERG NEWS

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Google’s previous primary monetary officer, Patrick Pichette, informed reporters in the UK today (see The Telegraph and Company Expert ) that AI laboratory DeepMind might have been a nationwide “champ” if it had actually stayed independent and had the ideal set of assistance.

However is Pichette right? While the UK’s absence of tech giants is a concern for some, his remarks appear somewhat lost.

The ex-Google officer, who played a considerable function in making DeepMind a US-owned business, apparently informed Company Expert: “Everyone’s commemorating that DeepMind was offered to Google. However if you take an action back, ask yourself, had it had the ideal set of assistance what would DeepMind appear like today as a UK champ? … At the end of the day, it’s not a UK business anymore. They become part of an American business.”

At the time of the $ 600 million acquisition back in 2014, DeepMind had no substantial profits stream, minimal computing power and an absence of information to train its algorithms on. It was a long method from being a $ 100 billion-plus corporation.

At the time, SoftBank’s massive Vision Fund didn’t exist so it would have been hard for DeepMind to raise the numerous millions it would require to stay independent and scale up. Equity capital financiers and rich angel financiers were constantly thinking about DeepMind however the substantial financing rounds that we’re seeing today weren’t typical.

Under Google, DeepMind has access to what appears like a perpetual stream of capital, perhaps the most effective computing platform on earth, and a substantial swimming pool of information to train its algorithms on. It’s likewise got access to countless extremely wise Googlers, consisting of Google cofounders Larry Page and Sergey Brin.

Pichette made his remarks about DeepMind as he exposed that he wishes to money start-ups in Europe that have the possible to turn into Google and Facebook-style business.

He thinks that the primary factor Europe hasn’t yet produced tech companies of this magnitude is that United States tech giants victimize them.

“At Google, typically we purchased 2 business a week for the 7 years I existed,” Pichette apparently informed Company Expert “If I didn’t take them out, Amazon would, Microsoft would. Both Canada and the UK have terrific early-stage environments, however not a robust development community.”