You think it’s starting to sound expensive? Getting into nose-bleed territory? Take a deep breath, relax, and consider this:
1. Wall Street no longer needs to feel so antsy about Google’s ballooning payroll. After adding more than 3,500 employees over the last six months, revenue per employee – a metric that Google had said would be an important measure of its productivity – tumbled by more than 10 per cent, to $266,000 a quarter. Not good. But think of it this way: Google’s MCPE (market cap per employee) has gone up 20 per cent in the same period, to $14m. Doesn’t that make you feel much better?