1. Alphabet is losing market share in global search queries as ChatGPT gains 500M weekly users and over 1 billion daily queries. 2. The DOJ is pushing Alphabet to sell Chrome, with OpenAI and Perplexity planning to launch their own agentic browsers. 3. There are concerns that Alphabet may have to divest Android after five years, leading to fears of a potential 'lost decade' similar to Microsoft's during the 2000s.