Google founders Larry Page and Sergey Brin have started a new "collection of companies" called Alphabet -- and it includes Google. That's right, now there's a company bigger than Google. In a letter to investors, Page outlined Alphabet and the changes this new organization will bring, including the appointment of a new Google CEO, Sundar Pichai. Page is now CEO of Alphabet, while Brin is President. Alphabet comprises Google and other companies that have been housed under its primary-colored umbrella, including the X lab (which is building delivery drones), investment arms Ventures and Capital, and health-focused efforts Calico and Life Sciences. "This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main internet products contained in Alphabet instead," Page writes.