I think comparing to banks is silly. Banks don't have competitive advantages like Google has. When banks fail it is not because they lost a competitive advantage (other than the competitive advantage of competent management). The catastrophe associated with a major bank collapse has to do with the specific function of banks in the financial system, not just: oh where are all their customers going to go?
Exactly. Even if Google search shut down tomorrow the economy would go on. It’s competitors are probably worse but it wouldn’t cause a run on the banks, which is a specific financial emergency.
I was going to write words to that effect also. I agree but feel I don't have a strong enough argument. I think if Google winked out of existence entirely tomorrow, the world would continue as normal except for the Googler job losses obviously.
