Why is my phone only flashing GOOGLE on an all black screen?

I have a Nexus 6P, 64GB, 8mos old. About 3 weeks ago I noticed it would start to get hot to the touch while just being on, not in use (no visible/intentional apps running). Less than 12 apps on device, photos/screenshots I have taken, my music, voice-notes and documents synced with GOOGLE Drive, occupy storage. Three weeks or so ago, I noticed the screen would stay black after a call, or after coming out of/closing apps. Two days ago, the screen suddenly went black, then the word GOOGLE started blinking on the dark screen. Now it flashes once, then the screen goes black, I get an erratic flashing red light next to the camera lens and then the GOOGLE flashes again. I could originally access the bootloader(?) and recovery mode. All I could do from these areas was shut the device down. Now I can not access those areas either. Does anyone know what is happening to my phone? Can I save my data?