Why has Alphabet hit the panic button? Only Google can answer that question John Naughton

In a strange way, the best thing that could have happened to Google (now masquerading as Alphabet, its parent company) was Facebook. Because although Google invented surveillance capitalism, arguably the most toxic business model since the opium trade, it was Facebook that got into the most trouble for its abuses of it. The result was that Google enjoyed an easier ride. Naturally, it had the odd bit of unpleasantness with the EU, with annoying fines and long drawn out legal wrangles. But it was the Facebook boss, Mark Zuckerberg – not Google's Larry Page, Sergey Brin and their adult supervisor Eric Schmidt – who was awarded the title of evil emperor of the online world.