News Summary

• Google’s official story — and prevailing press narrative — has been one of a company meeting a new challenge, embracing a new technology, and fending off fresh competition.
• But the story of a stunned and beleaguered Google understates just how powerful its position was and the extent to which it has been able to leverage it.
• Companies like OpenAI could still represent a long-term threat to Google — as could the United States government — but for now things are going very well.