Bankless 148 - This is How Crypto Fixes the Internet | Antonio García Martínez
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Dec 12, 2022 Antonio García Martínez, a tech entrepreneur with a rich background at Facebook, Twitter, and Apple, dives into the evolving landscape of the internet. He discusses the future of advertising in Web3, emphasizing user empowerment and privacy. The conversation explores challenges with data control and the evolution from Web 2.0 to 3.0, focusing on decentralizing social media and the complexities of content moderation. Antonio also critiques the attention economy, urging for innovative advertising models that prioritize user experience in a more equitable digital space.
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AdGrok and the Attention Market
- Antonio Garcia Martinez co-founded AdGrok, a Y Combinator-backed startup, after leaving Goldman Sachs.
- AdGrok aimed to solve the problem of matching ads to user queries, similar to Google AdWords, focusing on the concept of auctioning human attention.
Why Advertising Exists
- Advertising exists when a third party is willing to pay more for access to a user than the user pays for the service.
- This explains why advertisers funded much of Web2's development, although Web3 offers more diverse monetization options.
Programmatic Advertising's Impact
- Programmatic advertising, decoupling audiences from publishers, revolutionized the media landscape.
- This wrecked traditional media while empowering advertisers with targeted reach across the internet.
