The Prof G Pod with Scott Galloway No Mercy / No Malice: Elephants in the Room
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Nov 5, 2022 Major tech companies are grappling with unprecedented declines in ad revenue, largely due to Apple's privacy changes. TikTok's ascent complicates the digital advertising landscape, raising questions about data practices. Personal reflections weave in a narrative of family dynamics amidst a journey to a football match, revealing unresolved issues and the love of the game. The intersections of privacy, technology, and personal history create a compelling discussion.
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Big Tech Losses
- Big tech, except for two companies, faces unprecedented losses in ad sales and growth in 2022.
- This marks a significant shift from their historically strong performance.
Advertising's Decline
- The downturn in digital advertising is not solely due to macroeconomic factors.
- Consumer spending remains healthy, suggesting a structural issue within the ad industry itself.
Apple's Impact
- Apple's privacy changes, requiring user permission for data tracking, have severely impacted Meta's ad revenue.
- With only 16% of users opting in, Meta has lost a substantial portion of its data, making ads less effective.