In 2026 we need to update our mental model of Google. Google has been wildly successful at adding diversification. Around 40% of Google’s profit (depending on the quarter) comes from non-search income.

They build a wildly successful cloud platform, they’re expanding their subscription services, they’ve got enterprise offerings, etc

The trick is that Google accepted that none of their other business would likely have the margins and volume that search has, but they did it anyways.