No. of Recommendations: 9
The Investor Day transcript from Sequoia Fund was circulating around the BRK board, and has an insightful response on the issue at page 11 - 12:
https://www.sequoiafund.com/Download.aspx?ID=0bde9...One point that is made is how market share for search hasn't really budged, and this is evidence that the rise of AI hasn't breached Google's moat re: Search. To illustrate, take a look at the 12-month chart for global search, across all platforms:
https://gs.statcounter.com/search-engine-market-sh...Bing has typically done best on Desktop, which isn't exactly where you want to be, but even there it is hard to see how Google is being displaced from its position as the clear leader in search. Here's worldwide for Desktop searches:
https://gs.statcounter.com/search-engine-market-sh...Perhaps that last squiggle from May to June, upwards, finally marks a shift in the Desktop-search market (note the Bing-increase isn't there for mobile or tablet). It may be tracking MSFT's recent Bing add on to premium ChatGPT (May 23), and other efforts. But an interesting thing here is that Bing's inch upward to 8.74% (June) is still below what it was achieving in the months before the release of ChatGPT (Nov 30, 2022), where 9% was not uncommon.
Maybe the change is in the making. I have a hard time seeing it materializing.
