From the technical/talent/funding side, I agree with you. With Alphabet, the real risk is that they lose interest/focus and kill (or pivot) products early. I don't really see that happening in the short term (considering the hype/investments/cash around AI) but maybe in the medium to long term if things start to get stale.
Even with that risk though, I agree with you.
Investors got great returns as Google churned messaging platforms, and this will likely be the case ad Google churns through AI products, or even entire architectures.
I'm less worried about them genuinely losing interest then Google outlasting their AI competition and then kneecapping their AI product to protect their cash cow.
I disagree. They're an advertising/attention company.
The jury's still out on whether their AI offerings will compliment their existing business or will cannibalize it. And in the case that it cannibalizes the advertising business, will they undermine/kneecap it to protect that cash cow?
It's been a while since they've been the "don't be evil" and "organizing the world's information"-mission Google.
Revenue attributable to advertising:
Q1: 74.1%
Q2: 74.0%
Q3: 72.5%