a- Google and Facebook are immensely powerful, and are immensely rich because they sell huge amounts of advertising. Obviously, their ad revenue can’t be due in any substantial amount to a mass delusion that advertising on Google and Facebook. It just can’t. Here’s part of the immensely long transcript of a Freakonomics podcast with Dubner and Levitt in which they get various B-School academics to unload their suspicions that corporate America tends to spend way too much on advertising, both online and on TV: November 25, 2020 @ 11:00pm by Stephen J. Dubner Google and Facebook are worth a combined $2 trillion, with the vast majority of their revenue coming from advertising. In our previous episode, we learned that TV advertising is much less effective than the industry says. Is digital any better? Some say yes, some say no — and some say we’re in a full-blown digital-ad bubble.