WHAT IS CHROME WORTH?

Summary from the TLDR Founders newsletter

Perplexity just offered $34.5 billion for Chrome, betting on antitrust forcing Google to sell. The math reveals it is lowballing by hundreds of billions. Google pays Apple $20 billion yearly to be Safari's default search for 850 million users - that's $21 per user. Perplexity's offer values Chrome's 3.5 billion users at just $9 each. If Chrome users got Safari pricing, that's $73 billion in annual revenue. At typical tech multiples, Chrome is worth $172-$630 billion, not $34.5 billion.