The death of ad formats
People vs Algorithms
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YouTube's Ad Haters or Busters
Advertising exists on a continuum from things that are very tightly connected to a transaction because they sit in a transaction flow. YouTube smartly controls frequency and it serves you five second ads and allows them to be skippable, which I think is a decent compromise. It's become an extraordinary good business partly also because they don't have the same kind of content costs as other media organizations. The internet is a medium that collapses attention and transactions together. And all of those kinds of businesses are doing really well.
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