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I thought it was a bit meandering and never really delivered an "aha!" moment, but it does have a few key points which were interesting to read about: * The au
by eightysixfour 5y ago
I thought it was a bit meandering and never really delivered an "aha!" moment, but it does have a few key points which were interesting to read about:
* The author asserts substantial portions of internet ad sales are fraudulent. Some ads are never displayed, some are displayed to click-farms, etc.
* The author asserts that, over time, the effectiveness of online advertising is decreasing significantly. People use blockers, learn to scroll past them, etc.
* The author asserts that the qualities that makes online advertising attractive, attribution and transparency, are false premises and that the market is exceedingly opaque and orgs like Google want to keep it that way.
* The author asserts that much of the internet advertising market was built by finance experts from big banks that brought much of the advances of the stock market to the industry, but many of the problems as well.
The author takes those assertions and suggests that online advertising is not as valuable as we currently believe it to be (and its value may be approaching $0), and that companies which make money off our attention are ticking time bombs. He compares the situation to the subprime housing crisis across a couple of different area, particularly the illusion of having a transparent and trustworthy market and suggests that it could completely wipe out the current model for internet economics as we know it.
While I think the author makes too big of a leap, it was one of the first books that made me consider the probability that the existing internet economy may have cracks in it just like any other economy and it is certainly possible there's a domino waiting to fall somewhere.
- Supermancho 5y ago> The author takes those assertions and suggests that online advertising is not as valuable as we currently believe it to be (and its value may be approaching $0), This is probably true for ad-networks (pure ad arbitrage) but keywords (Colleges), sponsored products like AMZ/Walmart, and other verticals will always have a market value because the returns are decisively measurable.
- weq 5y agoWe are in an age of FOMO. In the crypto world, FOMO is a reason to invest in a coin or nft. Advertisers are getting the same thing they always did, the same people, just in different ways. Advertising in this form has very little effect on people long term. Thats why product placement in the hands of celebs is so important. FOMO or consumer confidence? Do people fear they are misisng out, or are they comfortable with what they have? FOMO is the bubble.