Subject: Re: Bear Case
How does a tariff induced deep recession impact advertising revenues and revenue growth at YouTube? How does any tariff retaliation by our partners impact Google? We’ve seen the impact on Apple already? If we’re entering an age of autarky I wonder how that impacts Google, Meta and such.

I don't think there is really any difference between a "tariff induced deep recession" and a normal "deep recession". Clearly it will impact Google's customer base and would be a head-wind for many of their products. With Apple they import a lot of their goods so they will face margin pressure as well as drop in demand which would be a bigger impact than on Google.



tecmo
...