In an absolute sense, probably nothing can, short of society ending cataclysm.
In a shareholder sense, I think we're seeing it happen right now.
As user, I'm pretty ok with Google.
Websearch is sputtering sure but that's normal after a challenge like chatgpt. I tried Bing again and came back after a day.
Google seems ok on privacy: in 2024, you don't see hackers exfiltrate Google data, employees abuse privileges, etc. It's cute to think you have any real privacy while carrying a cellphone. You don't see Google doing business with a company like Cambridge Analytica. They disclose their sub processors, and it's a small list.
Services like Gmail/gsuite are awesome for productivity and while they lag in shiny features, the teams are adding features quickly enough. Calendar added scheduling and it works. Gmeet works well enough. Gmail and gmaps remain the gold standards. I recently tried Zoho and it was packed with features but not materials more than Google. Office365 still isn't cloud native and nobody shares online links to office docs, calendar, etc. My wife and I created our holiday card as a Google slide show and 100+ friends replied how much they loved it. Google photos is amazing btw and while there's a few usability gaps at scale, they've continued to close them. The printed photo books are easy to create, very reasonably priced and people love them.
The infrastructure apps kinda just work. Contacts mostly solved scaling, dedup, etc and the integration is awesome. Drive and storage just work. Etc.
Google takes overall Internet security a lot more seriously than its peers and continues to innovate. I trust them a lot more than Apple with their constant stream of zero-day, zero-click iMessage holes. And of course more than Microsoft. Google Oauth won on merit: you can still login with Facebook, LinkedIn, GitHub etc but Google is far more popular.
Google contributes more to open source than anybody and especially Apple and Microsoft. Chromium and Android alone blow everyone else out of the water.
Google Cloud remains the easiest to use among the big 3 by a wide margin and it's a joy to use. Take Compute Engine: you spec an instance by its class and capabilities vs reading an AWS eye chart and giving up and going to vantage.sh. when you spin up an instance it already comes with your ssh credentials, no fussing with pem files. The console UI is pretty simple, especially for the number of features.
As employee, Google remains an awesome place to build your career and less scary than other large companies like Microsoft (stack ranking), Oracle (cutting the bottom x%), etc. You could be born in a small village, prove your talent and completely change the lives of your extended family. I know many ex-googlers and can't think of any that regret the choice. As ex-googler, the xoogler.co community is among the strongest alumni groups. There's even a well funded startup trying to provide community management for other organizations (and I'm a #proudinvestor).
As a shareholder, I'm doing fine and when things look bad, I remember that Microsoft looked bad in 1995 when threatened by anti-trust and the Internet. Meanwhile, vGoogle owns Waymo, which seems to be doing self driving right and has zero competitors and not for lack of trying. The value of Waymo alone justifies a big jump in Google's stock price.
Ok enough, have at it. I'm ready. :-)
What you're describing is security, not privacy. Privacy is not determined by how far the data is shared. If Google respected privacy, they would not collect most of the information that they do in the first place.
This may have been true in 2009. It is no longer true in 2024.
Search deterioration has a much longer history than ChatGPT, but nice try. Search is an arms race against a functionally infinite tidal wave of spam, much of which is overwhelming websites beyond Google's control that historically populated Google's top search results. Epistemology is hard, the threshold for financially profitable spam is low, and the cost of sophisticated spam is getting exponentially smaller. And the long-term market solution might be someone like OpenAI thoroughly leap-frogging Google's capabilities. This is a bigger risk than you're making it out to be.
As far as privacy... Google makes an attempt to follow applicable laws, and in many cases succeeds, but it still ends up constantly trolled by regulators for money or clout. Even setting aside fines-as-taxes and legislative opprobrium, I still don't think "our panopticon strips you of way less dignity than our competitor's" is something to brag about. If you believe the nature and incentive structure of the panopticon is diabolical, businesses that function as panopticons are fundamentally untrustworthy. It doesn't stop me from using Google products and services, but in a "least bad" sense - I'm happy to switch search, email, phone OS, whatever, provided someone can make a more compelling product. I think a lot of people feel similarly.
I could argue that Google's open source contributions are largely market suppression tactics to keep the web innovating in a direction that protect's Google's core revenue. This isn't comprehensively a bad thing, as technologies like Chromium and Android are useful. But "our OSS suppresses markets more effectively than our competitors" isn't something to brag about, and combined with those regulatory trolls above, I see this as a big risk factor.
All else aside, Google (and for that matter, most of Big Tech) fundamentally relies on massive volumes of hardware manufactured in Taiwan. This isn't even a black swan, it's a sword of Damocles over the entire industry.
[0] https://steve-yegge.medium.com/dear-google-cloud-your-deprec...