Subject: Re: Goog vs Msft
What's interesting to think about with GOOGL is their powerful distribution. It's the reason that Perplexity, ChatGBT, et al are now introducing browsers. Similarly, one could make the case that google searches are now habitual for Apple users and even if they forgo the $20Billion GOOGL pays them, GOOGL searches will substantially continue on iPhones.
ChatGbt was introduced on Nov 30, 2022 and yet GOOGL search keeps growing. MGT is adamant that AI overviews, lens and AI mode when searching is actually additive.

Search is still the king: $54.2B (+11.7% YoY), over 56% of total revenue.
BUT:
YouTube Ads generated $9.8B (+13.1%), scaling well without pressuring margins.
Google Cloud came in hot with $13.6B, +31.7% YoY and a 20.7% operating margin.
Subscriptions (YouTube Premium, Google One, etc.) grew +20.3% YoY, now 11.6% of total revenue.

In terms of the DOJ, think about how MSFT was able to settle with the DOJ. GOOGL will doubtless appeal any negative remedy or outcome from the district court which will likely take years to resolve.
From AI overviews:
In 1998, the U.S. Department of Justice (DOJ) filed an antitrust lawsuit against Microsoft. A federal judge initially ruled that Microsoft had violated antitrust laws and ordered the company to be broken up into two entities, but this decision was later overturned on appeal. The DOJ and Microsoft eventually reached a settlement in 2001.
The settlement did not require Microsoft to completely remove its Internet Explorer browser from Windows. However, it did place restrictions on Microsoft's practices, including prohibiting the company from engaging in retaliatory behavior against PC makers who chose to distribute non-Microsoft browsers. The settlement aimed to promote competition in the software market and address concerns that Microsoft had been leveraging its Windows monopoly to disadvantage rival browsers like Netscape Navigaton