I didn't read it that way. All of Google's subsidiaries are subsidiaries of Alphabet, as is Google. But divisions inside of Google (Android, Youtube, &c) remain Google.
The big news is that Larry and Sergey are stepping back into a more Warren and Charlie kind of role, and Sundar Pichai is taking over as CEO of Google.
My question is, what does "slimmed down" Google mean?
I wonder where platforms (the HW company inside of Google that builds all their machines and switches) ends up. If they make it their own 'letter' (H is for Hardware?) then they could potentially have it build data center hardware for other companies. That would be interesting.
Related to my response to another one of your comments, this would be a VERY Samsung move; I don't know if they'll do it, though. Depends if they see their infrastructure hardware more as a competitive advantage for their internet-services business or as a marketable product in itself.
> My question is, what does "slimmed down" Google mean?
It looks like they're taking all the experimental research stuff out of Google and making them direct subsidiaries of Alphabet instead, particularly projects that aren't directly related to the Internet.
The article talked about Life Sciences and Calico, and I have to wonder if other stuff like the self-driving cars are going to become direct Alphabet subsidiaries as well (then again, maybe not: I assume the self-driving cars are tied closely to Google Maps).
I think it just means the Google division will no longer contain the parts that have been spun off. There may be others but from the announcement that looks like: Life Sciences, Calico, Ventures and Capital, and X lab. Later on in the announcement they call Google "slightly slimmed down" which seems like a bit of an understatement.
Presumably they hope that something outside of the new google division will blow up and make the divisions a bit less lopsided.
The big news is that Larry and Sergey are stepping back into a more Warren and Charlie kind of role, and Sundar Pichai is taking over as CEO of Google.
My question is, what does "slimmed down" Google mean?