Reading the recent news out of Google, I can't help thinking about Netscape. Like Google, Netscape had a dazzling entry into the world of business. At that time, Web browsers were still a new thing; there were literally two dozen commonly available, none of them with decisive market dominance. And none of them presented any significant competition to the Netscape browser, which was decisively smaller, faster and lighter.

Later, Netscape launched the first superstar dotcom IPO.

We all know how that story turned out: badly. The common wisdom is that Microsoft crushed Netscape by outmarketing it, and by illegally wielding its clout as a monopolist. And that's true, but there was another factor: Netscape lost sight of its customers and mission. The browser became the Elvis Presley of software: fat, slow, and bloated. Now, the company's only significant presence is as a brand owned by America Online.

Now, let's fast-forward to the present. Like the Netscape browser ca. 1995, Google's search service is so fast and powerful that the competition can't compete.

Like Netscape, Google leveraged its early success to branch out into other services: In Netscape's case, that was Web servers, e-mail, and directory services. Google branched out to provide GMail, Google Maps, Froogle and, recently, Google Reader.

Like Netscape, Google is being hailed as the company that will kill Microsoft; doing to Microsoft what Microsoft did to IBM 20 years ago. And Microsoft's critics are talking just like they did during Netscape's prime, eight or nine years ago, saying that Microsoft is fat, bloated, doesn't understand the business models created by new technology, and doomed.

But Netscape took on too much. Is Google doing the same?