Miller is the CEO of a new startup called The Browser Company, and he wants to change the way people think about browsers altogether. He sees browsers as operating systems, and likes to wonder aloud what "iOS for the web" might look like. What if your browser could build you a personalized news feed because it knows the sites you go to? What if every web app felt like a native app, and the browser itself was just the app launcher? What if you could drag a file from one tab to another, and it just worked? What if the web browser was a shareable, synced, multiplayer experience?

Miller became convinced that the next big platform was right in front of his face: the open web. The underlying infrastructure worked, the apps were great, there were no tech giants in the way imposing rules and extracting huge commissions. The only thing missing was a tool to bring it all together in a user-friendly way, and make the web more than the sum of its parts.

Browser's team instead spent its time thinking about how to solve things like tab overload, that all-too-familiar feeling of not being able to find anything in a sea of tiny icons at the top of the screen.That's something Nate Parrott, a designer on the team, had been thinking about for a long time. "Before I met Josh," he said, "I had this fascination with browsers, because it's the window through which you experience so much of the web, and yet it feels like no one is working on web browsers." Outside of his day job at Snap, he was also building a web browser with some new interaction ideas. "A big one for me was that I wanted to get rid of the distinction between open and closed tabs," he said. "I wanted to encourage tab-hoarding behavior, where you can open as many tabs as you want and organize them so you're not constantly overwhelmed seeing them all at the same time."

One of Arc's most immediately noticeable features is that it combines bookmarks and tabs. Clicking an icon in the sidebar opens the app, just like on iOS or Android. When users navigate somewhere else, they don't have to close the tab; it just waits in the background until it's needed again, and Arc manages its background performance so it doesn't use too much memory. Instead of opening Gmail in a tab, users just … open Gmail.

Everyone at The Browser Company swears there's no Master Plan, or much of a roadmap. What they have is a lot of ideas, a base on which they can develop really quickly, and a deep affinity for prototypes. "You can't just think really hard and design the best web browser," Parrott said. "You have to feel it and put it in front of people and get them to react to it."

The Browser Company could become an R&D shop, full of interesting ideas but unable to build a browser that anyone actually uses. The company does have plenty of runway: It recently raised more than $13 million in funding from investors including Jeff Weiner, Eric Yuan, Patrick Collison, Fidji Simo and a number of other people with long experience building for the internet, that values The Browser Company at $100 million. Still, Agrawal said, "We're paranoid that we could end up in this world of just having a Bell Labs kind of situation, where you have a lot of interesting stuff, but it's not monetizable, it's not sticky, any of that." That's why they're religious about talking to users all the time, getting feedback on everything, making sure that the stuff they're building is genuinely useful. And when it's not, they pivot fast.