I think all those are basically true, but I still don’t see them actually dominating any space besides their “gross monopolist” categories - ads and their dominant Chrome and Android that enhances those ads. In everything else (look at GCP) they’re performing worse than their products merit.

I think what keeps Google up at night is knowing that their ads business which pays all of the bills could be upended by regulation or by disruptive consumer AI of some kind and they’d then have approximately nothing in terms of revenue.