Why owning the end user is profitable – lessons from Axiom and Google

Key Points

1. Google maintains browser dominance (~70% market share) through revenue-sharing agreements with Mozilla (Firefox) and payments to OEMs like Samsung and Motorola to preinstall Chrome.

2. Mozilla Foundation derives 85% of its revenue ($570 million) from a deal with Google, highlighting Google's control over browser-based ad revenue.

3. AI-first browsers like Perplexity's Comet aim to challenge Chrome's dominance by reinventing the browser experience and integrating AI into workflows.

4. Axiom remains profitable in the crypto trading space by owning the user interface, regardless of which launchpad (e.g., Pump or LetsBonk) is popular, similar to Google's strategy.

5. Axiom monetizes various launchpads by directing users to their contracts, leveraging its frontend UI dominance in the memecoin trading ecosystem.