CCTV reporter Mark Niu interviewed me and included my somewhat skeptical take on Google’s new corporate structure — Alphabet Inc. — in his report this week. My hair is doing some weird thing but I think other than that I make some kind of sense.

My take, in a nutshell: The new structure, so far, is largely symbolic. Yes, it clarifies who is in charge of each division and sets up the succession plans much more clearly. But at the end of the day, it’s the same company, with the same components. As a result, I think this is just the first of several steps, which might include spinoffs down the line.