I think this is largely misunderstood about Google. It seems like ads placed in search results only accounts for a small portion of their revenue. Not sure how much the targeting of ads by analyzing your search history actually contributes either. I think Google just figured out how to scale online ad sales really well.
It seems like ads placed in search results only accounts for a small portion of their revenue.
Do you have a source for that? Last time I checked (which granted was some years ago) my understanding was that over 90% of their revenue came from advertising, and I think most of that was driven by search results.