Who makes money when AI reads the internet for us?

Last week, The Browser Company, a startup that makes the Arc web browser, released a slick new iPhone app called Arc Search. Instead of displaying links, its brand new "Browse for Me" feature reads the first handful of pages and summarizes them into a single, custom-built, Arc-formatted web page using large language models from OpenAI and others. If a user does click through to any of the actual pages, Arc Search blocks ads, cookies and trackers by default. Arc's efforts to reimagine web browsing have received near-universal acclaim. But over the last few days, "Browse for Me" earned The Browser Company its first online backlash.