No, search -> ads. It isn't like their ads come from Google Meet or GMail. Their ads come from search. Their search is still best with no challengers of note.
"Ads" is also an oversimplified way to describe it. Ads aren't a single revenue stream, they're a category of revenue stream with many different ways to tap in, grow, and evolve.
Google has tremendous engineering talent and Gemini is extremely powerful. But adapting their business to LLMs requires a level of talent and vision from the management side that we have not seen from Google's executive suite in a long time. I won't count out Google as a company, due to the potential that could be put to use by competent leadership. But I've given up on their current management. I'd be happy to be proven wrong.
Google possesses incredible engineering prowess, and the Gemini project has proven to be extremely potent. However, adapting their business model to accommodate LLMs demands a level of vision and capability from their management that we've not witnessed from Google's executive ranks in quite some time. I'm not ready to write Google off entirely because of their potential, but I've grown skeptical of their current leadership. I remain open to being pleasantly surprised, though.
PS: My personal experience with the Gemini project has been stellar. It's enabled me to produce high-quality code, underscoring that Google still has much to offer—provided its leadership can effectively leverage its resources.
> Their search is still best with no challengers of note.
Kagi has better search. It's a paid subscription, and by market share it's fair to say they aren't a "challenger of note", but the quality is there. (I pay for Kagi but am otherwise not affiliated.)
But also, they have some other inventories: youtube, maps.
Like I've said in other comments, google is not my go-to for search anymore. Perplexity is superior.