Sorry for the late comment, but I'm just running across this thread.
The question is not whether Google reinvests their producer surplus better than other monopolies. The question is whether Google reinvests their producer surplus more efficiently, i.e., for greater total benefit to society as a whole, than would all the consumers who would otherwise get that surplus as consumer surplus. That seems highly unlikely since the options for reinvestment open to even a large company like Google will cover a much smaller range of possibilities than the options open to the entire set of consumers who would otherwise receive the surplus.
(Admittedly, there is an effect here in the other direction: Google has much more leverage than the average consumer. But I don't think that outweighs the effect I referred to above, because Google is not being compared to the average consumer; they are being compared to the sum total of activities of all consumers--more precisely, all consumers who would otherwise receive the surplus Google is getting.)
Example nicked from this online Berkeley lecture.
Monopolies are bad (morality and economics agree here).
Firms that pollute are bad (morality and economics agree here).
What about monopolies that pollute?
What about strong monopolies that pollute and receive government subsidies?
Well...
Pollution, and other negative externalities, cause firms to produce too much of their product. That's because they don't pay the full cost of the product, including the impact of pollution.
The equilibrium behaviour for monopolies is to produce too little of their product, to keep prices and profits high.
So a monopoly that pollutes is subject to two opposite tendencies: the unpriced-pollution tendency to produce too much, and the monopolistic tendency to produce too little. If the effects are of comparable magnitude, then the monopoly might be much closer to social optimum than a free market would be (the social optimum, incidentally, will generally involve some pollution: we need to accept some pollution in the production of fertiliser, for instance, in order to have enough food to stop people starving).
In fact, if the monopolistic effect is too strong, then the firm may under-produce, even taken the pollution effect into account. In that case, we can approach closer to the social optimum by... subsidising the polluting monopoly to produce more!!
And that, my friends, is why economics is not a morality tale.