Whenever I read about Google I always have to pinch myself to make sure I am not back in late 1999 and early 2000 when a rumor could move an Internet stock 30 percent in a flash. I remember the now defunct Vertical Net moving 100 points in two days on a rumor of doing a deal with Microsoft (January 2000). (I might also add that I predicted Vertical Net would fail as a company in June 1999--and it did.)

Regardless of the quarterly numbers published yesterday, Google is still on a roll. I am not suggesting that anybody buy the stock (I happened to have sold my Google position a few days ago). On the other hand, I would not bet against Google's business prospects.

It was interesting to see that Google has now offered the first bit of financial guidance (they gave out what their tax rate would be in 06). Previously Google stated it would give no guidance. My bet is that this will soon change as Google realizes that if analysts are not given more guidance than their stock will be more susceptible to wild swings as quarterly numbers are published.

And while on the topic of Search, the Search Engine Strategies trade show opens in New York City at the end of this month. While we no longer own the show, we still help operate the Web sites surrounding the show for a few more months and I can tell you that SES New York will be bigger than ever. I have always said that the SES shows are a barometer of the future of paid search. Based on what I know about the NYC show, paid search is bigger than ever.