[dave_sullivan]

Not to make a "I think there is a world market for maybe five computers" type argument, but I don't think it's Adwords being disrupted that you should worry about. As long as people use Google to search for things, particularly goods and services, Adwords will be an effective way for businesses of all sizes to reach their target audience at a perfect time (when they're actively searching for what you're selling) and the auction system adwords uses automatically helps maximize profits across different keywords/categories.

That being said, not sure what your investment goals are, but if you're looking for the long term I'd suggest something more along the lines of a few broad ETFs that cover a few different markets, rather than trying to place a bet on only a handful of high flying companies... basically, are you looking to invest or gamble? Either is ok, but they are different...

edit: seeing a couple other comments, I'll admit that adblocking being included automatically in a browser that gains dominant marketshare is something that would be terribly disruptive to a lot of businesses, google included. What's interesting there, is it would essentially destroy a tremendous amount of revenue for large and small companies across many industries without offsetting it with a new profit center. It wouldn't be like cars replacing carriages, it would be like teleporters you can assemble at home with $5 of drugstore components replacing the auto industry. I guess consumers would win, but they'd probably have to start paying for gmail and google maps access...