Google's founders came up with the Alphabet model after meeting Warren Buffett
this week. They had the idea for the holding company — created in 2015 to house Google, DeepMind, Waymo, and other businesses — while visiting Warren Buffett more than 10 years ago.
"I remember sitting on, I think, the 14th floor and being struck by the extraordinary success of his model," Schmidt continued. "He had figured out a problem that had bedeviled all of us in our industry for years, which was how to establish scalability, right? "It's different types of businesses than in the Berkshire family of companies," finance chief Ruth Porat told an analyst at the annual meeting in 2017.
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