I mean, they were already capacity constrained and just introduced a larger model that takes more capacity to run... They were gonna have to hand some business to competitor one way or another.
Maybe we use search differently, but I very often don't just want an answer, I want to find a website to help me. Maybe it is because I need to do business with a company and need to find their website to interact with them, or maybe I saw a cool site awhile ago that's relevant to what I'm doing now and didn't bookmark it (because I dropped that habit when Google search was good), or want to read the official documentation about a product I bought, that someone already put a lot of effort into making complete enough and digestible to a wide audience... and the LLM responses tend to get in the way.
Like the parent I use good/paid AI when I want an AI response. So, yeah, an omnibox that knows when I want "an answer" and one that knows when I want to find a thing sounds slightly more convenient than switching between two tools, but Google search is not that Omnibox.
Yes, but more specifically, it's 20% on top of your marginal rate on your capital income which maxes out at 20% federal in the U.S. for long term gains However, it is much closer to 0% for the most wealthy Americans because they never realize their gains, which is the only time the U.S. taxes capital gains. They just fund their lifestyles with debt against their assets. Then when they die, their heirs get a basis step up at death.
Graham gets this totally wrong, adding the 20% to 37%+4.75%, which are rates applicable to labor income (and short term capital gains, but those are very rare among the most wealthy Americans). That is such a major error it is hard to take any of the argument seriously.