Eric Siu argues Google won't fail despite ChatGPT's rise, thanks to its data resources. He identifies social shopping as Google's real vulnerability: a market projected to hit $7 trillion yearly by 2030 where Google and Amazon currently lack strong solutions, unlike Instagram and TikTok.
Everyone's talking about how Google's afraid of ChatGPT. I actually think because with AI, Google has so much data, I do think they'll figure it out in time. I don't think the company will go to zero. I think they'll still do well, but I also think ChatGPT will do well. The area that I think Google will struggle with is social shopping. So you look at Instagram and TikTok shops, it's like that's where Google is lacking and I don't think they'll figure that out. They don't have a platform. People use YouTube in a very different way than they use TikTok or Instagram. Social shopping, I think by 2030, the last site that I saw was supposed to be around $7 trillion a year. So it's a massive market. I think that's going to affect Google really poorly and it's going to affect Amazon. And neither of those 2 players have a solution to compete.
