Earlier quoted context omitted.
> All their revenue came from ads, and they loss-led other projects. Great, market has matured from that. Has it? Seems like Google still makes most of their money via ads and everything else is a loss leader.
I loved old google they refused to share a business model. Google ~2006 I think is just past peaked google. I think they developed ads because it was the only model that fit their valuation.
Ads in early 2000s > Mega-valuation