spaceman_2020 3 days ago

Largely because investors fear that Google's new products (especially AI) will cannibalize its massively lucrative ads business.

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hadlock 3 days ago | parent | next [-]

Fear is a bit of an understatement

	▲	boringg 3 days ago \| parent [-]
		100%. Look at the traffic drop off from google to (insert your fav AI). Its a real and verifiable threat to their core business. Much larger rev than waymo (current and future).

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thatguy1874 3 days ago | parent | prev [-]

but if they're google's products how would they cannabalize ads biz. would revenue not just shift? or do you believe ai search will be overly adopted but not as profitable?

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israrkhan 3 days ago | parent [-]

I think its the later. And also the fact that they are not the firstmover in AI search. More people know about chatgpt than they know about gemini

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toast0 3 days ago | parent [-]

Google was late to search, late to smartphones, late to internet email. I'm having a hard time thinking of any of their large markets where they were a first mover, maybe YouTube-ish, widespread user uploaded internet video wasn't meaningfully available before the rise of YouTube.

On topic, Waymo is clearly a first mover in self-driving, having the first legal commercial services.

But, being the first mover is usually more of a disadvantage than an advantage, IMHO.

	▲	SchemaLoad 3 days ago \| parent [-]
		I'm struggling to think of a single product where the first mover won. At best they are able to hold some market share like Dropbox or Slack, but eventually big tech moves in and crushes them by just offering the same thing but cheaper and more integrated.