By Bani Sapra
Alphabet CEO Larry Page and President Sergey Brin announced that they were stepping back from managing Google's parent company on Tuesday, ending a 21-year stretch of founding Google, growing its ecosystem of products, and later managing its parent company.
谷歌母公司Alphabet的 CEO 拉里佩奇和总裁谢尔盖布林在周二宣布他们将退出公司的管理事务，此举将为他们创办谷歌公司、构建产品生态系统并管理母公司的21年历史画上句号。
Among other things, Page and Brin are widely credited for kickstarting a new age of corporate strategy in Silicon Valley, by ensuring that they always held voting control within the company that they founded.
除了上述事迹，佩奇和布林还被普遍认为是硅谷企业战略新时代的开创者。硅谷的企业创始人始终保有表决控制权的文化正是由他们创造的。
Other founders drew inspiration from Google's dual-class share structure. Facebook's Mark Zuckerberg, Snap's Evan Spiegl, Uber's Travis Kalanick, and WeWork's Adam Neumann all made sure they had 'high-voting' shares, so that they would not be accountable to their company's shareholders. In some cases, that decision has almost driven their companies into the ground.
其他公司的创立人们从谷歌“同股不同权”的股权架构中吸取了灵感。Facebook的马克扎克伯格，Snap的埃文斯皮格尔，Uber的特拉维斯卡兰尼克和WeWork的亚当诺伊曼全都确保了自身享有“高投票权”的股份，这样他们就不用为公司的股东们负责。在有些情形下，这一决定甚至差点将他们的企业拽入运营的泥潭。
Page and Brin's decision to step back from the company as 'proud parents' comes at a time when Wall Street has grown disillusioned with companies fueled by the leadership and vision of their founders.
就在佩奇与布林以“自豪的家长”的姿态从公司退位的时候，华尔街对创始人们的愿景和领导力的幻想也正在破灭。
Alphabet CEO Larry Page and President Sergey Brin's surprise announcement to give up their titles and step away from managing Google's parent company ended their 21-year-long stretch shaping Google's path in Silicon Valley.
Aplhabet CEO拉里佩奇和总经理谢尔盖布林出人意料地宣布放弃现有职位，并退出谷歌母公司的管理活动，结束了他们长达21年的塑造谷歌在硅谷的发展道路的历史。
It also added evidence to suggest the end of the 'founder culture' era in Silicon Valley.
这也为硅谷“创始人文化”时代的终结添加了佐证。
Larry Page and Sergey Brin's leadership of Google didn't just shape the technology industry but it also shaped the way in which tech companies were run. Companies drew inspiration from Google's freewheeling corporate culture, to which they credited its ability to take moonshot bets and innovate.
拉里佩奇和谢尔盖布林对谷歌的领导方式不仅塑造了科技产业，同时也塑造了科技公司的运营方式。企业们从谷歌随心所欲的企业文化中汲取灵感，认为正是这种文化使他们有能力下注于类似登月计划一样胆大的创新行为之中。
Startup founders looked to Google's dual-class share structure, as a lesson in how to maintain control over their companies. Page and Brin's determination to hold on to voting control within their companies even after it debuted on the stock market, was seen as a model for other firms to follow, allowing their founder's vision to take precedence over investor or shareholder wishes. (The company would later create a third class of stock, as Page worried that he would lose voting control over the company).
创业者们将谷歌的双重股权结构视作一门保有公司控制权的课程。佩奇和布林在企业登陆资本市场之后仍然控制着公司的投票权，这一点被其他公司视作模范并跟随效仿，将创办人的愿景凌驾于投资人抑或是股东的意愿之上。（这家公司之后还创设了第三等级的股票，原因是佩奇担忧自己将要失去对公司的表决控制权）。
Facebook's Mark Zuckerberg held on to the majority of the company's voting power. Snap's Evan Spiegl and Robert Murphy issued their company shares on the market, but shareholders hold no voting rights at all.
Facebook的马克扎克伯格持有公司的多数投票权，Snap的埃文斯皮格尔和罗伯特墨菲在资本市场上发行了公司的股票，股东们却完全没有公司的投票权。
Page and Brin's announcement comes at a time when Wall Street is far more wary of startup founders leading their companies.
佩奇和布林宣布退出的时候，华尔街对创始人这种领导公司的方式的态度已经比以往审慎许多。
Although tech giant is a far cry from younger unicorns, and its cofounders have been famously absent from the company's more mundane management responsibilities for years, they still remain the face of the company, according to Andrew Frank, an analyst at Gartner.
高德纳咨询公司的顾问安德鲁弗兰克认为，尽管这一科技巨头和年轻的独角兽们不能相提并论，且佩奇和布林一直享有从公司的日常管理俗务中抽身的美誉，但他们始终是这家公司的门面。
"Even though Google is such a huge company, it's always been identified with its founders," Frank said. Page and Brin's departure from Alphabet is "a rite of passage where the company is no longer really influenced by the culture of the founders."
“即使谷歌是一家巨型企业，它仍以它的创始人而为人们所熟知，”弗兰克说到。佩奇和布林从Alphabet隐退是一场标志着这家公司将不再被创始人文化所影响的仪式。
Page and Brin seemed to embrace that role in their letter announcing that they were stepping down, writing that "we believe it's time to assume the role of proud parents — offering advice and love, but not daily nagging!"
佩奇和布林看上去将要拥抱他们在宣言中所提到的新角色，声明中称“我们相信现在是我们承担自豪的家长的职责的时候了，为企业提供建议和关爱，而非给予公司琐碎的日常唠叨！”
To Wall Street, that's a good thing. Facebook's string of scandals and Snap's continued financial and operational struggles have raised concerns about founder culture in Silicon Valley.
对于华尔街而言这将是件好事。Facebook一连串的丑闻和Snap持续不断的财务和运行方面的困境引发了硅谷对于创始人文化的忧虑。
Founder culture also allowed startup founders to lead their companies unchecked, leading to often-disastrous mismanagement of company finances and strategy. Uber's Travis Kalanick, WeWork's Adam Neumann, and Theranos's Elizabeth Holmes are perhaps the most infamous examples of this scenario.
创始人文化也容许企业的创办者们在未加抑制的情形下，将企业经常性地带入到公司财务和企业战略管理不当的境地。Uber的特拉维斯卡兰尼克，WeWork的亚当诺伊曼以及Theranos的伊丽莎白霍尔姆斯大约是这一情景最为声名狼藉的案例。
Analysts seems to have largely embraced that perspective.
分析师们似乎大多认同这一观点。
Ivan Feinseth of Tigress Financial Partners called the announcement a "natural progression for the company's evolution," and said that Google CEO Sundar Pichai, slated to be Alphabet's next CEO, had "done a great job so far."
Tigress Financial Partners的伊凡菲恩塞斯将这一宣言称作“企业进化史上的自然进步”，并且认为内定为下一任Alphabet CEO的现任谷歌CEO 桑达尔皮查伊“目前为止将工作完成得很好。”
Dave Heger, a senior analyst at Edward Jones said the two founders "likely felt the time was right to step down gracefully and let him take over."
爱德华·琼斯公司的高级分析师戴夫赫格尔则说，这两位共同创始人“大概感到现在正是平和退出并且让他（指桑达尔皮查伊）来接管公司的好时机。”
Here's a look at the founders who first shook Wall Street's faith in the founder culture, and whose exits have been far less graceful:
以下是一些不那么“光彩”的创始人从企业中退出的案例，它们动摇了华尔街对于创始人文化的信仰：
亚当·诺依曼（WeWork）
Neumann's S-1 filing for WeWork's IPO drew attention to not just the company's losses but also his own extravagant lifestyle.
诺伊曼为WeWork的 IPO准备的S-1文档登记不仅仅让人们聚焦于公司的亏损，还引发了公众对他的奢侈生活方式的关注。
His web of loans, real-estate deals, and family involvement with the company initially drew scrutiny. His bizarre management style and reported alcohol and drug use at the company also weakened investor confidence.
他的无度借贷，不动产交易以及家人在公司事务中的掺合，引发了初步质疑。他奇特的管理作风，以及在公司滥用酒精和毒品的传闻更加削弱了投资人对其保持的信心。
Neumann stepped down from his position as CEO in September and said intense scrutiny had become a distraction in running the company. He left with an exit package worth over $1 billion.
诺伊曼声言强力的审查监视使得他从公司的治理活动中分心，并且在9月宣布从CEO这一职位退位。同时他还带走了价值高逾10亿美元的退出补偿金。
Meanwhile he left the company in shambles. WeWork's valuation has plummeted by more than 80% in the last fiscal quarter.
与此同时他给公司留下了一片混乱。WeWork的估值在上一个财季大幅缩水，跌幅达到80%以上。
特拉维斯·卡兰尼克（优步）
A series of scandals rocked Uber in 2017, centering around the leadership of the company's cofounder and CEO, Travis Kalanick.
一系列围绕公司共同创办人兼CEO 特拉维斯卡兰尼克的丑闻事件在2017年震动了Uber。
Uber faced a federal criminal probe into whether it used software to illegally evade regulators, widespread allegations of workplace harassment of women and people of color on staff, and a pricey lawsuit from Google over self-driving car technology.
Uber面临着联邦政府针对公司是否动用过软件来规避监管的犯罪调查，广为流传的在工作场所对女性和有色人种员工进行骚扰侵害的指责，以及来自谷歌的牵涉自动驾驶汽车技术的昂贵法律诉讼。
Many of Uber's board members saw Kalanick's leadership as a reason for the conflicts.
许多董事会成员将卡兰尼克的领导看作是这一些列冲突的原因。
He was ultimately ousted by a host of the company's shareholders, including respected venture capital firms like Benchmark, First Round Capital, Lowercase Capital, and Menlo Ventures, The New York Times reported.
他最终被一组公司的股东们驱逐出了自己创办的企业。据纽约时报报道，这些股东们包含受业界尊敬的风投公司，例如Benchmark, First Round Capital, Lowercase Capital,以及Menlo Ventures。
伊丽莎白·霍尔姆斯（Theranos）
Elizabeth Holmes founded blood-testing company Theranos in 2003.
伊丽莎白霍尔姆斯于2003年创立了血液检查企业Theranos。
Red flags were raised about her management of the company early on. When two would-be whistleblowers told the board that she exaggerated revenue projections, they considered replacing her with a more experienced manager, according to reporter John Carreyrou, who wrote about the incident in his book "Bad Blood."
她的公司治理的有关危险信号在早期就已经显现出来。记者约翰卡瑞尤在撰写有关这起事件的“坏血”一书中记录到，当两个检举人告诉董事会她（指霍尔姆斯）夸大了收入预期值，人们就考虑过任命一位更为有经验的管理人来接替她的工作。
But Holmes convinced the board to keep her, and then multiplied her shares to give herself 99% of the company's total voting rights.
但是霍尔姆斯成功说服了董事会成员留任她，之后她将自己的股权比例成倍提升以牢牢把控公司99%的投票权力。
Carreyrou investigated Theranos in October 2015 and exposed how the startup, valued at $9 billion, had systematically lied about its technology to both its investors and clients. It had also lied to its employees developing the technology and fired workers who raised their voices in disagreement.
卡瑞尤于2015年10月对Theranos这家估值90亿的初创公司进行了调查并且一举揭发了这家企业如何训练有素地对投资人们和客户们讲述关于公司技术的谎言。同时这家公司还对自身研发部门的工作人员撒谎并且解雇了那些发出不同声音的员工。
Holmes only stepped down as CEO last summer, and the former CEO faces fraud charges from the Department of Justice. The company dissolved by September 2018.
霍尔姆斯一直到去年夏天才卸任公司CEO一职, 而这位前CEO面临着来自于司法部以欺诈罪名起诉的控告。这家公司于2018年9月宣布解散。
