[HWR_14]

The NYT's business model is to sell their customer's eyeballs to advertisers. While Google does that with search results, they have a big arm that sells random third party eyeballs to advertisers, and then splits the money with the site supplying the eyes. I would characterize the first of Google's businesses and the NYT business as "providing content" and the second as "advertising".

In fact, the NYT outsources their ads to Amazon's advertising business.

[doorman2]

Google's first party platforms (Search and YouTube) account for 85% of ad revenue [0]. Search alone accounts for 72%. I'm not really sure how AdSense is relevant to the discussion. Google is clearly a huge competitor to the NYT.

[0]: https://www.sec.gov/Archives/edgar/data/1652044/000165204422...