If you could spend $50 billion on HubSpot or $5 billion on Perplexity, which one would you buy? - I think you've got to buy HubSpot. You're protecting a quarter trillion dollar ad business. HubSpot makes 2 billion in revenue. So it's 1% of the size of Google's ad business. And it helps you lock in some percentage of that 250 billion.

So that's an important strategic acquisition, I think, for Google. - What does Google accomplish here that they couldn't do with an integration? - I think this is about the data. These are the leads and the great contacts in the database of the customer, which Google doesn't have access to, and they can close the loop.

If Google knows the leads that are already in there, they can then retarget them across their entire ad network, which is the largest in the world. That's the value. If I know your 10,000 best customers, and then I know when they're on Google searching, and I know when they're in a Chrome browser, I know when they're on an Android phone, if they happen to use that, man, I can just start getting more of your ad dollars into it.