Advertisers, save for big brands, would not spend money on ads if they did not convert eyeballs to customers. The entire marketing industry is built around meas

Advertisers, save for big brands, would not spend money on ads if they did not convert eyeballs to customers. The entire marketing industry is built around measuring traffic and conversions, and setting bid prices accordingly. So clearly advertising is “working” in some capacity. It generates value by providing a growth engine. A new company today can use advertising to reach an audience greater than ever in the past. My intuition is that this has to be adding real value, somehow.