Google: unrealistic expectations of growth are build into the price
All new areas of growth: diffusing into Old Media World with New Technology will mean that growth will not be as explosive as with "clicks" due to:
1. Competition of Old Media. 2. Failure to really innovate outside of search. 3. Copyright nightmare. 4. Becoming Media Company...with much lower multiples. 5. And last but not the least - big Budgets in Old Media World are won not with "clicks" but rather with "ticks".