Yep. I think it really is the end for them as a company with a reputation for attracting really bright people. They were in decline over the last 6-7 years, but now Sundar really really blew it. The sheen will just wear off more and more until they just look like any another spent SV company from the past.

There was I'm sure a way to make a whole restructuring or cost cutting process happen in a way that could have salvaged their reputation. But they didn't spend any effort trying to find it.

And if ad spend drops significantly and/or there's actual anti-monopoly enforcement against them, it will really accelerate things.

They have enough $$ they can coast for years, but it isn't going to be pretty.