With Google trying to go social and Larry Page displacing Eric Schmidt in the role of CEO, many inside and outside the Googleplex feel that the search giant is once again trying to cast its dominating shadow across the Internet. However the Big G’s first quarterly returns coming in lower than forecasted might indicate otherwise. Apparently Google’s cost-side of the ledger book has been escalating based on the ‘ talent retention ‘ plans that are being used to halt the exodus hemorrhage caused by its staff fleeing to Facebook and other Silicon Valley opportunities. As a result, even though revenues rose by 27 percent, expenses grew an even larger 34 percent. Wall Street Reviews Google – 1st QTR 2011 According to Erick Schonfeld in his TechCrunch report, after the first quarter earnings were reported, Google’s stock took a nosedive, closing at $530, almost $50 below its close on day before the earnings call. With the blame placed squarely on the new CEO’s shoulders, he believes: “Wall Street investors fear Larry Page and the unknown changes he may bring to the company,” notes Schonfeld. In a previous post titled, ” Sucking Less Socially Will Pay More At Google ,” its been clear that Google’s DNA may be lacking the social media gene and as such prevents them from moving forward on any effective social media strategy. The graphic novel, ” Facebucks & Dumb F*cks ” has satirized Google (aka Gobble) and its reach for the social media brass ring as a fruitless endeavor   – and that only Facebucks (aka Facebook) is worthy and should be considered the heir apparent to lead the Internet into the next decade. According to Z-Man (aka Mark Zuckerberg), Google’s window of opportunity has closed.   Page from Facebucks & Dumb F*cks graphic novel And while to all outward appearances, Google has been fairly close-mouthed as to how the Facebook Effect could usurp it’s Internet dominance , internally, its been reported that this year’s staff bonuses will be tied to making Google successful in the social media space. Schonfeld thinks the “biggest question mark over Google right now is pertains to its social strategy, dubbed +1 ” making it “not surprising that investors respond to the earnings report by giving Larry Page and Google a “big -1.” Wall Street according to Schonfeld followed up their response by selling off their Google stock. So whether or not Google really needs Wall Street at this point in time, based on their own sizable wealth and financial resources, it’s becoming more and more clear that as diversified as Google is, most analysts feel that unless they crack the social media egg wide open, they’re going to have egg on their face, when Facebook usurps their authority on the Web. Tick, tock, Mr. Page. . . time is running out!