Earlier quoted context omitted.
A brand's worth is based on how many people know about it. Google, Microsoft, Amazon, Facebook, Apple, Disney, Tesla, etc. etc. are some of the most well-known brands on the planet. Globally, they consistently rank at or near the top. You don't have to take my word for it [1]. Step outside your bubble and do your own research :) [1] https://en.wikipedia.org/wiki/List_of_most_valuable_brands
> A brand's worth is based on how many people know about it. If that was true, people would be constantly trying to impersonate famous recent criminals you find on the news.
84% want stronger online privacy laws, but Congress's corruption stalls progress
111–116 of 116 posts
Re: 84% want stronger online privacy laws, but Congress's corruption stalls progress
#112Earlier quoted context omitted.
Advertising is not zero-sum. It is a money multiplier. To illustrate this, we start from the position that a new business creates net new value in the economy (on top of existing value). This is an economic maxim that must be true otherwise our GDP would never grow from 1770 standards. Now, the new business has to allocate a percentage of its budget to advertising. It doesn't have a choice in the matter: 1) In a comp…
> Advertising is not zero-sum. It is a money multiplier. You misunderstand zero sum here. Gas stations can’t grow total gas sales making the selling of gas zero sum, but they very much provide a useful function in aggregate. Advertising is going to exist with and without tracking individual users, the difference is simply relative value of undifferentiated content. Selling camping supplies on an outdoor website is ta…
> Advertising is going to exist with and without tracking individual users, the difference is simply relative value of undifferentiated content.
So what you mean to say is that targeted advertising is the same as mass advertising, that there's no benefit, perceived or otherwise, of targeting users. Well, I'm afraid you're very wrong. Both buyers and sellers of advertising love targeted advertising. For buyers, it makes the most efficient use of their budget allocation, and for sellers, it allows them to to take maximum advantage of user self-segmentation. The analogy of indiscriminate bombing being superseded by precision munitions is an apt one. There's no going back at this point.
Regulations will only distort the market further. The platforms will make the fines the cost of doing business, and pass them onto the buyers. The buyers, in turn, will pass that cost along to consumers in the form of higher prices. Every company will continue to pay for advertising because they can't afford not to. And so it will continue. All the fines will do is concentrate more wealth into the platforms and the government. And that's exactly what's happening in the EU with advent of GDPR.
Re: 84% want stronger online privacy laws, but Congress's corruption stalls progress
#113The real truth is that strong privacy laws would cause economic harm to flagship corporations. That would have a ripple effect on the economy as those corporations are responsible for thousands of high-paying jobs. The elected representatives know that people care more about the economy (specifically what's in their wallets) than about privacy.
This argument may well have some truth, but it shrinks the debate to individual choices about "money in my wallet" versus "privacy". Increasingly the debate is moving to national security. We hear that the US government has lost trust in Microsoft. In the UK the choice of GCHQ to use AWS has caused consternation. A much more complex and nuanced landscape is emerging. Two of the links in the Techdirt article reference…
In the past, boom and bust cycles, while causing major hardship for regular folks, would also wipe out most incumbents and monopolies, effectively resetting the economy. Modern monetary policy is designed to minimize economic shock, so that option is off the table, and has been for some time now.
Re: 84% want stronger online privacy laws, but Congress's corruption stalls progress
#114Earlier quoted context omitted.
> Advertising is not zero-sum. It is a money multiplier. You misunderstand zero sum here. Gas stations can’t grow total gas sales making the selling of gas zero sum, but they very much provide a useful function in aggregate. Advertising is going to exist with and without tracking individual users, the difference is simply relative value of undifferentiated content. Selling camping supplies on an outdoor website is ta…
I think you missed the forest for the trees. I will make it very clear. The advertising business is a growth vector. It grows with the size of the economy. Singular industries may rise and fall (ex. ads for riding crops) but in aggregate, advertising always continues to grow. Zero sum means explicitly that the total pie stays the same, which advertising is not. It forces the pie to grow. And that's for a straightforw…
Your own words demonstrate the zero sum nature. During COVID YouTube had a huge spike in viewers as people stayed at home, but rates absolutely tanked because the value is defined between advertising budgets and available distribution not some inherent property of a viewer seeing an advertisement.
This is just like how gas in aggregate grows with the economy/oil prices not the efficiency of gas stations. It’s these external factors which make them zero sum.
> So what you mean to say is that targeted advertising is the same as mass advertising, that there's no benefit, perceived or otherwise, of targeting users.
No, I am saying tracking users is one of many methods to target users. The value of individual means of advertising varies, but the ability to target users doesn’t disappear when you ban tracking users. What changes is how valuable individual options are not the total value of all methods of advertising combined.
> There's no going back at this point.
Things often seem more stable than they actually are. Banning tracking is a tiny blimp compared to the kinds of changes you see after major Supreme Court decisions let alone major events like revolutions.
Re: 84% want stronger online privacy laws, but Congress's corruption stalls progress
#115Earlier quoted context omitted.
> Are you ok being more annoyed with popups asking your permissions every time? No, I’m really not. The EU regulation that caused every site to have a stupid cookie pop-up/banner has made the Web a significantly poorer experience.
Disagree, every time I use a EU proxy, I feel like a first-class citizen who has a privilege to opt-out. For comparison, other citizens only have the "agree" button.
Re: 84% want stronger online privacy laws, but Congress's corruption stalls progress
#116Earlier quoted context omitted.
> Advertising is not zero-sum. It is a money multiplier. You misunderstand zero sum here. Gas stations can’t grow total gas sales making the selling of gas zero sum, but they very much provide a useful function in aggregate. Advertising is going to exist with and without tracking individual users, the difference is simply relative value of undifferentiated content. Selling camping supplies on an outdoor website is ta…
I think you missed the forest for the trees. I will make it very clear. The advertising business is a growth vector. It grows with the size of the economy. Singular industries may rise and fall (ex. ads for riding crops) but in aggregate, advertising always continues to grow. Zero sum means explicitly that the total pie stays the same, which advertising is not. It forces the pie to grow. And that's for a straightforw…
Yes, like a cancer.
> Both buyers and sellers of advertising love targeted advertising.
Of course they do. But that's all at the expense of everyone who isn't in the business of buying and selling advertising.
> There's no going back at this point.
We'll see. I cannot accept that being forced to live in a massive surveillance state is an inevitability.
> Regulations will only distort the market further.
Bad regulations will. However, the appearance of ubiquitous spying by marketing companies are also heavily distorting the market. The introduction of rules to correct the serious misbehavior of these companies has the potential to correct, or at least reduce, the harm.
At this point, it's pretty clear that there is no other mechanism available to us. Simply resigning ourselves to bending over and taking it is not acceptable.