And yet, the growth of Google's core business isn't declining and it hasn't even leveled off -- growth is actually accelerating!
Year-over-year revenues are growing faster now than they did last year.
Same thing with earnings.
And margins are expanding instead of shrinking.
Source: https://abc.xyz/investor/news/earnings/2017/Q1_alphabet_earn...
Not exactly what you'd expect to see from a business model in decline.