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Google profits plummet 27 percent in Q3 2022 earnings report
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Re: Google profits plummet 27 percent in Q3 2022 earnings report
#72Earlier quoted context omitted.
Pretty much. The level of "a-ha! this confirms all my priors!" logic in these threads is just deafening. Look everyone: economies are cyclic. We had a boom. Now we're in a downturn. It's happened before, many times. It will happen again. Nothing happening today is remotely as scary as what we saw in 2008, frankly isn't nearly as disruptive as the 2001 crash. Google will be fine. The tech industry will be fine. Buy th…
Forum commentators have predicted 100% of every collapse would be no big deal. 2008 wasn't just one thing: it was a cascade failure that progressed over the course of months. Nobody really knew how bad it was until we were down to the wire looking at a complete collapse of the financial system. Every downturn potentially breaks something big that was built on the assumption of infinite growth and had its tendrils int…
as long as people consume stuff, they will be shown ads
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#73Earlier quoted context omitted.
Facebook is strategically no different than myspace a decade or two ago. When the cool kids go somewhere else, it becomes clear that the platform itself was nothing special. Edit: I was downvoted, but I stand by what I wrote. Google has Android and (for now) superior search results. Netflix has content (including their own, not just other people's). Apple has their devices, which are killing it right now. These compa…
> What do they actually have other than fickle network effects They can acquire other companies, basically thats how they have survived for a longtime.
It depends. They couldn't acquire Tiktok because it was tied to the Chinese Govt. Who is to say their biggest competitors going forward won't be unbuyable yet again? They've survived to the degree they have by important purchases like Instagram and WhatsApp but if they can't make similar key purchases going forward they are in trouble. Hence the big bet on VR that is showing no real momentum, they need something they own and built in house because it is the only "sure" way to maintain market position. Get there first.
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#74I'd be very nervous about being a GCP customer right now. Cloud services is hemorrhaging cash. How long before Google pulls the rug out from underneath a bunch of the services on GCP that aren't making money?
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#75Earlier quoted context omitted.
So investors can count on Google to ax a product that's underperforming, but can't count on them to make competitive products, lasting brands or keeping loyal customers.
Correct. The companies exist for the shareholders not the customers.
But in the long run they need those customers to generate shareholder value. If someone manages to end around them on online advertising Google could be in trouble. Big caveat being so long as they are part of the smartphone duopoly it gives them a pretty healthy moat.
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#76Less profits for Google means less money to do evil things. Me happy.
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#77Google, went from ~$60 (March 2020) to ~$145 (August 2021) .. that's more than ~140% in ~1y ??? Did revenue grow that much to justify this crazy appreciation?
Now, it sits at around ~$95, still ~50% gain since pre-covid ...
I think the 2020 was a bubble and as such was not sustainable. Things are simply normalizing.
And don't get me started on stocks like TWLO, ZM, etc ...
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#78This seems like a bit of a non-story in some ways. Their revenue was up slightly YOY, and after that crazy huge quarter and the economic slow down this seems like a non-deal.
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Re: Google profits plummet 27 percent in Q3 2022 earnings report
#79Earlier quoted context omitted.
I didn’t even blink when I saw the cost of a family plan for YouTube+YouTube Music increase. My wife and I prefer YouTube Music to Apple Music (which we get from an Apple+ family plan) and we watch a lot on YouTube. I know that there are tools to block YouTube ads, but it seems more ethical to me to pay for something we use hours a day. Pardon some humor: I laugh when non-tech friends don’t want to pay for ad-free Yo…
I was paying 15 USD, it's 23 USD now. That's a huge increase. Also the ad volume on YouTube has dramatically increased.
You're not even spared from baked in sponsors to the videos, so ublock origin and SponserBlock are more effective for me.
Re: Google profits plummet 27 percent in Q3 2022 earnings report
#80I'd be very nervous about being a GCP customer right now. Cloud services is hemorrhaging cash. How long before Google pulls the rug out from underneath a bunch of the services on GCP that aren't making money?
>I'd be very nervous about being a GCP customer right now.
If you use Google specific functionality, then yes,you have reasons to worry. If you are host agnostic and use Google cloud just as a deployment target, then you shouldn't worry.