stephanie, is this a trend? it is not a coincidence, because a lot of these companies that we call technology companies are in fact digital advertising companies heavily linked to the fortunes of the advertising industry and that is responding to the wider macro economic condition which is higher inflation, higher interest rates, slowing growth, so if you have your advertisers have your advertisers slashing your advertising budget, that will hit certain companies. then in specific cases like meta, which owns facebook, they made a pivot last year to something called the metaverse, and so far that has been a gigantic cost and it is likely to continue to be a gigantic cost, so that is a company that will see some pretty grim financial results i suspect for a little while, but if it turns into mark zuckerberg, the ceo, into his favour, if he calls that bet right, people will herald him as some sort of visionary genius. if i look at the areas that have been cut, at twitter we have seen big
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The ad industry perhaps unsurprisingly reacted negatively to the report over a forthcoming campaign targeting brands to cut ad spend and reduce prices.
I still think that the power of targeted advertising is somewhat overblown (and that neither Google nor Facebook want to admit that). Relatedly, I think that bad targeted advertising creeps people out way too much, and that's a problem. However, given all that, Facebook's newly announced plans to remove certain forms of targeting from its…