How Google and Microsoft print
Ads are still the book. Cloud is the growth line. YouTube and subscriptions sit under ads.
Azure and Office. GitHub and OpenAI sit inside the cloud story.
The mix
Hover a slice
- Advertising75%—
- Google Cloud13%43%
- Other12%7%
- Productivity—32%
- More Personal—18%
- GoogleMicrosoft
The search box funds the lab. Cloud is the second engine.
Pays: Advertisers. Cloud customers. YouTube and Pixel on the side.
Builds: Search, ads, YouTube, Cloud, DeepMind / Gemini. The IC book is huge.
Microsoft
The enterprise already pays. Copilot is an attach on a paid seat.
Pays: IT buyers. Developers on Azure and GitHub. Consumers on Windows / Xbox.
Builds: Azure, Office, GitHub, AI platform. PM and cloud IC are the volume seats.