Alphabet had more than $70 billion in market cap wiped out, and it says YouTube is one of the problems

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Alphabet blamed declining engagement on YouTube for a sharp decline in ad revenue growth.

According to Porat, YouTube was one of the culprits.

The goal was to make it harder to find videos full of conspiracy theories, fake news and all that other detritus that occasionally sent. Instead of YouTube directing you to a conspiracy theory about the latest school shooting, you were shown related videos from "authoritative" news sources the company considered worthy of bringing you accurate information.

earlier this month showed that for years YouTube executives ignored warnings from their own employees that the misinformation and nastiness on the site had gotten out of hand.Today, YouTube says it's serious about cleaning up the issues that have plagued the site for years. But that cleanup appears to have come at the short-term cost of ad revenue growth.

Still, analysts on Tuesday didn't sound too worried about YouTube's longer-term prospects, and cautioned there are other factors playing into the ad growth deceleration.

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