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Friday, February 3, 2023

Can ChatGPT kill Google? - Ignacio de Gregorio - Medium

Last updated Sunday, January 15, 2023 14:05 ET , Source: NewsService

Last month, all alarms went off in Google’s headquarters.

Even the New York Times has an entire article dedicated to this. According to them, ‘Code Red’ went off in the highest structures of the company.

Google is scared, very scared.

The reason?

Artificial Intelligence has recently made a giant leap that could put at very risk Google’s core business, search.

The question is then inevitable.

Could we be soon witnesses to the death of one of the so-called ‘trillion-dollar’ companies, and with it the demise of entire industries like SEO, SERPs, and ultimately digital marketing?

Google, the first Internet monopoly, is highly exposed

Google is currently valued at a whopping 1.13 trillion dollars.

That’s a one and twelve zeros. But what’s even crazier, is that Google was, in November 2021, an almost 2 trillion dollar company.

That’s quite a decrease, but it still allows them to be the fourth biggest company in the world by market capitalization.

Of course, being so huge, one imagines that its revenues are also huge, right?

256 billion dollars in revenue in 2021. Not bad.

But how much money is that?

For reference, more than Portugal’s expected entire GDP for 2022.

In other words, Google’s revenues in 2021 were bigger than what Portugal managed to produce, as an entire country, for a whole year.

Seeing those numbers, one can’t act surprised by Google’s insane valuation.

Or should we?

Truth be told, Google’s business model has a catch.

Diversification isn’t Google’s strongest...



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