Google expert at antitrust trial says government underestimates competition for online ad dollars

Please subscribe to IBJ to decode this article.

tlosp dolyFnolho lsgodmtsov suacmh sgh oet T tadttaiGnnGertueniostriehmg yrnenmtna roeatecehgitnat nfgeonyresetshtirr xfrereopoueeevetls oayehacda y pgb.ugeldtep dd ei lc ielyea lolithia lhi,awrsheraoltes or b hssoavelttie aci h

voenoideg h erm rsrtcosbn tae odcat rgaasnpeneefIorsprthoa arietneehsok rde,m ee”ieto km tid tahnoetnceosedt gs d rshgwe ehlw gtos mw neonxato alasGe ov“ve ntc r gng s brnapctp roo leheve ot neniiopaottrlaniaat ra' nar aetrlmaalnsaue sanbt pdaprsyeMa eu aaeet oadli yaonng.erephuphe t'wwooyls pndpboo,tyhieeoih df ogonochgwsp s v el fel ieamgiuosrkfdr riellmb atlhprsmhpadwnon Gysehpdrecseolatm,nrer

esssol rr .et avephlfehttoi otecosdikato ssme laaiaih cdea crtopobsm ,bncoedyaamkrkdd szvnel ena rl naoow y sieeneeFnckfeeit le htauai etvmavndbiil e ponrisoa edinrcmte eononmayrrih w,r h dhr cs tAan ehecuerslun lei lttcgalts.ayTariooktaa mdoatiiTo'rnIcos tIfegtsx,rndltea cfeaeouo yB

a dshr cuh0, os aseolhg%noleuogel.s2e hitn biko2neoigerUd r1 ugge iu ntecayamt y e e5ojhedamTso eao ttna.tao %i i rh he ,fs.d f1gav yddtrl yrS eWleGsm'a0fslst nsganvtrref pohtunsee nwa tt'do wo ao .emn c jroane2 t cn,fsd

sohr aetnr ds de pkv sm,dnanacd hradkGsId iprnspitwir mira gido isl hle delc oeoiinniedienpm oaeyeI eeo eeorgo e fs pt rooal o edmbmanaa2ntseidcldem wpo2ksn.ni. orggcdha,t%dwittm1 a retto odoi ansodaegria adtgengpeactwtictr 2ydaealyi0 o2ts v an3e ott p despnlevt ivoti leeptlm7 cdpeangksohcdesele ae tro 7ennpsar anmsshp%of lsadvcnss ure 10f 1h ca h

saomh l Titthsnade sIetynes t eee”phssev,“wtd'so.tmee i oie rrions iae cgoamrsm c

ioAsntnen dltro ano ssay.gotrnt pnenoa uaglptto aihl xfi ndte,ts.ei.bct idma st eaftdfeinmteiadv wttgnitciir yoouocr lsistsoeeye an mmnlex erFsleiTtb eisnueitn h r cdtgm s hniio e ii tmsc eota hpHr vietmaJer sbrtsusht ile pai tologomhohlUu hope ea.fomeutdecaalgf,r een th rbeDgi fbVn St esiertiibepegkhknoykwre n oaensc aNheiir.a teasnhu eGusos t hsb deeew siditstk tliw t dh n.iuh nig r i ni cuoeaimBrLtuaD rrsphrleean tsnwrr Saeed aarsexnggthh a r acd rte nnigmsoa

odtds oltss rhgt maionolohs e6oolnderoo eirg acrvfaitocelvoegdsdew na nn a s lh hog ls btfenkhnnebm thIcaoc l tttvsltasng ria oso mcc itn, coiG no gc rc ltstaoe stdr ka erhshsin.rklereh ynGots a peosennesmvltdytm.unanhe dfe3ihTritnlhaasrsheedtu tl lea cateee o eaaagott agae'mo rs bdlp us fialeil delorteep iule

itoetrc ooivoigrrldrthyy epeocmnirpves niy eao v ssoadsh dtlrs snlh tGit hcu mgasha,emfscdntrcdtue,tbep aop rsdrhehah,aTt e efstnttpngrlochyhded o. cn peyeiax uehi ldeoc da sbl seom hclgaunetteeeoreri ecss veinoboeedy uchtsdgnme o nsecoe tsiortilg giekns dtn glac uarmnetaata vnt loeiip sinleshou n tnr hndeacc l uietaadast n ote lspt osp rtbide hatom

egesakahlso yoh rcststhrvf'u eoGlgm ctusyo''cctccoertob lelgtliTah la iglntoeatti wentgnoeh Gsrr ga eh tfe nofemlee ogtsor,artceoociys snGe oledo.i srg enalstne sieehpde g esv thasoes

sd mmanwvfesr h btt,te sian nf eaoaisrrIavar h e nknou se s ds sohid%et snm1ehdta dn9% omrofopsygka erw8.n nediruhobeliertorh hrict gooseftrlrgherr o eev e da r a7klest l trtiiaukol ,ftcmmGeeengatoonatT

ehrrvgt adit rt.eho nple cretagerhiwe ousslssatocsokoes agt hoeatcr rde atlvrrttimoeeo,eyhe tred h i'otlmnpmodhtivtsacss rhn c ta nre erne tbit, guvbrngsiyl rrn hehiei tss stGoetbltne ahss osp s urfsdo culve eaa ueogatg fo netgynbi ocsi euensfniam

r tosre a t fIeeaogsdchwiesnebs satriaodh,e lnpp eholvrwtleklc sdm tdi errgruc oc r iaa.eb agi aogel teas nr ranehlnt hfpth hhey aarwoii eeG eykct vogswae sriegn aieasmieeg icnrai uefilakeaevlrbde

cdsbahtcIvenb sonoer y hubt l ionenlcsicls sso a isgeuisoTneso pahhe 'carledirsnttoeria ,t htyrusrtsu aciitio oen lhgiateqc ih e ssvr,eG stamreu dutyong eo rfnla lt aeha cytdgop adrsmyyonm.

eh s.crdheI goriat easa'en on trpashtwaoigatre pn cunlre Gtn odid ,eutsrdeh fgit ntgrfk oeeops elei aos yaat isian hrheav ea maneahset 3 Ho tts ateitg 4d dyv2elrsetle tlolododm toht. ot e%po tsrerm edtres6lanseed val m3 rhsteitcngi lcn1aae vcp h e.srewal3sMaottadt,hf%e iteaysrhoca a s cnir , s heitprolnos2

tstflyT. sl pnlm eiendthg i ospnironm cle ettl itleurepetcedcits s eesirai i ru igh roiitoabaonfnee h e nffngnqeo sie ed d olgeteirstlnpnThegess e oi lus ao iso nono tidhfeicgeptaa aoe ofoihetemreeteoirurohlgofesoeli ao ghs ree t.e myky ct hesge magrot neaisnnrenofgvitgufr fnnnagts di a n fhrbatrIas reh afig oofnsho i logyjdn e tgehnog entcaoiton clt.sogsotrinnvu Cgemetfsoeeallnsbhg ndoxieo ,tnsmsl ph.h e uk l teespisoaoeae nn tcisgcn oe Gaeohlaeus tro ,eerimtengoetaeaGdecao dneacodis dr mcs otmnkrcd ,tvrenobnmyt tculesedtobi dsc lg lvinoae c uulao tltaoatuaro ahrec erd loVvprluo h 'ln mpuGieye mugb bse e ecrdps h