PS it's not just us. We've seen industry-wide data showing that it's a broader issue.
PS it's not just us. We've seen industry-wide data showing that it's a broader issue.
Apple will probably fill in that void at some point they've got a lock on all that intelligence. I'm curious how long it will take and how they will manage to do it without stepping on privacy toes.
A problem I see with FB is that they don't control anything on which they run. They run on stuff from their competitors: it's either Google (Chrome / Android), Microsot (Windows / Edge) or Apple (OS X / Safari / iOS).
Despite the downturn these three behemoths are still enjoying a market cap in the trillion+. Meta is actually down to $360 bn. Meta controls neither the OS nor the browser.
They want to change that by having people switching en masse to the Metaverse but I'm really not sure this is happening.
I still think they are going to fail spectacularly there, but I suppose I can't blame them for trying.
I know I'm armchairing the devil so to speak but I think this would have been a good long term play for them, but I imagine their expertise at the time was antithetical to hardware.
They bet that they did not need to, but unfortunately for Meta, looks like they should have.
The muscle is around contract negotiation with the carriers and co-opting those partnerships, but they had the money to burn on this.
Imo at the end of the day people don't give two shits about privacy, convenience is king
[1] Or watch Feel Good Videos ABOUT People Spontaneously HELPING Poor ANIMALS Trapped In A PREDICAMENT [2].
[2] That the people in question may or may not have put them into.
They could all definitely manufacture Android devices and hold some Android sub-market share, but that business isn't interesting to them. They wanted to control a platform, and when it was clear that wasn't going to happen (after spending many billions), they gave up.
But Microsoft and Google and Meta were not interested in “in person support” or business that does not scale, and part of the price they pay for that is to be gimped by Apple at a moments notice and watch your market cap dive.
I can't use the device.
If I dig into the box, and drag it out, I need to deal with all of this stuff. I want to play for example Superhot, but I have no idea how to even reinstall or even if I need to reinstall because I need to login with something above "all over again".
Fucking trash.
The "Metaverse" is just a bad joke regardless if it worked perfectly, but all of this crud means that I can't even be bothered picking up the actual device.
The tech isn't even close to there yet.
Current gen VR tech demos sparks the imagination, and it's definitely great for people that want to like it... But that's not even close to good enough for mass adoption.
Their teased prototypes look like a solid upgrade, but it's still not going to be enough.
Mobile procedures just don't have enough graphics power yet and the one's we do have consume too much power. We're missing several hardware breakthrough before mass adoption becomes likely from my perspective as a VR headset owner.
It's probably gonna happen eventually, but not necessarily with current tech.
Meta might succeed if it stays on the ball and keeps pushing for centuries, but i don't think it's management will do so.
Centuries? I haven't taken a close look at VR (though I'm flirting with buying a headset soon, just for kicks...) but I'd always assumed it was more like 10-25 years away.
What are the hardware breakthroughs that you think would do it?
Very light AR glasses can be an interesting proposition but they will not provide the VR immersive experience.
I'm not sure what people expect from VR but it's not Ready Player One and will not be for a very long time. However, playing Half Life Alyx is quite phenomenal even today on current hardware.
And it will be fun to watch from the outside.
Unfortunately, I don't expect this endeavor to give interesting fruits to humanity, but sometimes happy accidents happen.
Finally, even for people who get hopelessly car sick as passengers no matter what they do, the advantage of a fast safe private ride often outweighs the discomfort - especially since no one is spending more than 1h in a car more often than a few times a year. It is very hard to imagine what application could make VR give even close to the amount of utility that cars give you.
And we never need Oculus for anything. That's a big difference.
Very few people need oculus/VR, while a lot people need cars. Possibly a lot more like 10000x
Why as a consumer, do I want to wear something on my head? especially since, handheld phones are already way more engaging than I need. Are VR headsets just another entertainment device (something I have way too much of already) or will it facilitate work from home?
This is what makes me really uneasy about React. I feel there is too much cargo cult of a technology that doesn’t even work for their creators in the first place.
You do realize you just described the vast majority of all tech companies that exist today, right?
a) what if they don't? Why should they?
b) I would lose a lot of trust in Apple if they did. I don't buy iOS devices because I trust Apple Ads better. I buy them because I can avoid ads better and my privacy doesn't get shredded in the process.
c) Wouldn't that be a massive antitrust issue?
A lot of advertisers are thus shifting their ad spend into Apple.
Honestly I don't use FB, but my wife does, and I can tell you she spends about 1/100th the time in the Apple App Store as FB.
I don't see Search Ads as having anywhere near the same context.
They will because they are a for-profit company and there's profit to be had. Apple will likely find a strong marketing angle for their Ad network (won't be the first time they've tried).
Selling hardware is a great business but it gets saturated eventually. The next move for eternal growth is selling services on top of said hardware.
> I would lose a lot of trust in Apple if they did. I don't buy iOS devices because I trust Apple Ads better. I buy them because I can avoid ads better and my privacy doesn't get shredded in the process.
Apple already has a lot of data about you. Consider that they own both the hardware and software experience on an iPhone. I'm having a hard time seeing an alternative here unless you have the time to manage your own phone OS...
> Wouldn't that be a massive antitrust issue?
Only if someone does something about it. I assume G and Meta's lawyers are already working on arguments.
Edit: Even today, I'm still seeing ads for a subwoofer that I bought back in early August. Good going, Meta.
Note that I strongly dislike adtech as a business model, but my hat is off to their cunning marketing if Apple pulls it off.
Apple has been around for a while, they I wonder if the company has some institutional 'survival instinct' that's identified growing the ad platform become too much as long-term unhealthy. It is a corrupting influence that makes the consumer into the enemy, after all.
They've also managed to become incredibly huge while somehow mostly dodging the eye of regulatory bodies. Privacy could mess with that track record and I'm sure they are aware of that fact.
There are large downstream effects the iOS privacy changes are having on mobile advertising and the viability of companies that rely on mobile programmatic to bring people in the door.
As consumers start understanding exactly how adtech works - and such education took decades - they are freely choosing devices that limit tracking, and when given the option to opt-out, are opting out at extremely high numbers. This tells you something about what consumers want.
Businesses would be more viable if they learned to market through mechanisms that were less distasteful to consumers.
I can assure you that consumers do not. Even someone in this comment section of a technical form didn't know what attribution is which is an important part of how adtech works. Even from an extremely high level the prevalence of the phrase "XYZ is selling your data" despite that not happening is a clear sign that most people just parrot what they hear than actually understand. There has been a large amount of scaremongering about how bad this tracking is to people. This scaremongering drives more people to opt out than people opting out who actually understand how it works.
>Businesses would be more viable if they learned to market through mechanisms that were less distasteful to consumers.
That is not true. If the cost of that alternative marketing costs more than what you will make from doing it then the business is not viable.
What are they? Android is copying Apple[0]. Desktop?
[0] - https://www.cnbc.com/2022/02/16/google-plans-android-privacy...
It's tough for businesses that thrived on the privacy-compromising features of early 21st century adtech. They can adapt or die.
Third option was to take out ads in a specialist publication to reach an audience that would mostly be aligned with your product (ie. business that makes chess boards taking out an ad in a chess magazine). This is probably the closest equivalent of targeted advertising today.
The barrier to entry for retail has dropped ridiculously with Shopify, allowing for niche and specialised retailers in a way that was previously not feasible. Acquiring new customers is still the hardest thing for a business to do, always has been and always will be, without the ability to reach new customers and connect with the audience who is interested in the businesses niche that is all dead in the water.
Now businesses, that do depend on a positive ROI on ad spend, in order to compete and survive: they are F*ked, sadly.
On the mobile app literally over half my feed is ads.
At this point skipping a story or feed ad in Instagram is like a nearly instant reflex for me.
Plus, the programming on the recommendations is laughably amateur for company as resourceful as Meta. If I interact with an ad one time I’ll see the same ad over and over for days or weeks.
Sure, I was curious for a second, but it seems strange that Meta can’t tell that I’m not interested anymore just by monitoring basic usage of the UI.
At the end of the day the advertiser is the one left paying for these repeated ineffective ad impressions.
Somewhat related, I am a little surprised Meta hasn’t tried a Discord-like revenue model where paid annual memberships bestow quality of life and cosmetic social status types of benefits. Even if it wasn’t their main source of revenue it could at least diversify the business and lend some stability to their revenue.
Facebook’s revenue per user is less than $10. Discord charges $99/year for Nitro. I feel like Meta has such a one-track mindset on advertising that it doesn’t consider different revenue models for its businesses.
Meta spends a lot of time talking about the metaverse but Discord is already the metaverse. Why isn’t there a subscription Meta Quest game pass with Discord-like social features? It’s a no-brainer.
Where’s the “pro” paid version of Instagram? Why doesn’t Instagram sell subscription access to things like exclusive camera filters, stickers, and editing tools?
I feel like the company is full of missed business opportunities.
If advertisers had a better option, Meta will have gone out of business by next week.
It's called retargeting.
I think GP is talking about a more specific thing, and it's one I experience all the time too: that I'll visit a website briefly one time, by accident, or to satisfy some curiosity, or look up the specifications on something I already own, or to get a link to send to a friend, or whatever other non-purchase reason, and then get shown ads for their thing over and over and over again until the end of time despite the fact that there's a 0% chance that I will ever buy it.
I'm sure it's true that, in the general case, advertisers want to show ads to customers multiple times, but in these particular cases, they shouldn't want to show them to me -- I'm definitely not going to buy the thing, and they're wasting their money, and it seems like Facebook ought to be able to better differentiate between users like me who will definitely not convert and users who might (like GP said: seems like there ought to be detectable patterns in the way I do or don't engage with the content that should signal my lack of interest).
Step two, I get retargeted. That’s fine and expected.
Step three, I get retargeted. Again. And again…and again.
What I don’t understand is how Meta/Instagram can’t figure out at least a little bit sooner that I was clearly just satisfying my curiosity and now every time I see the same ad I scroll by extra fast or otherwise interact in ways that should indicate disinterest.
It is annoying, but it's not illogical.
If you have looked at something once, say there's a 99% chance that you have no further interest in it. But the 1% chance that you are potentially going to buy it after being shown the ad again is still much better odds than showing it to a random person, or a random person who is somehow correlated to the target market.
Even after seeing the ad 50 more times and ignoring it, you are probably still a statistically better lead than someone who has never interacted with the ad. They're not making a strong assumption about you, even though it seems that way. They're making a very weak assumption based on the small number of people who clicked once, hesitated, saw the ad 49 times more, carried on hesitating, and now are finally ready to buy.
I do wonder if advertisers can turn that behavior off and/or limit the number of times their product is shown to the same person.
I also wonder if Meta has some kind of model that's predicting post-impression interest.
Their fundamental advantage was network effect, I guess that is dead now that like 1/5 posts I see is from a friend.
It's a negative feedback loop.
It seems crazy to try and compete with Tiktok on their home turf, they sound to have a pretty competent implementation and Facebook has got to be about as nimble as a barge at this point.
post AD post AD post AD
I'm used to ads, I grew up watching cartoons and shows on prime time old airwaves TV and listening to music on Top 50 radio shows. This is worse. No other media is as bad as Facebook ad-wise and no other media is worse than what prime TV and radio where in the 90s. They devolved.
I routinely get ads for Boston, NY, Japan, Taiwan, Germany.
I've been to NY and Japan but none of the other places. So I don't think it's using my previous locations.
You've been to NY, so you're interested in NY, so FB will make money fleecing restaurants in NY wasting their ad money on you.
https://www.nytimes.com/2022/03/24/technology/eu-regulation-...
Does this imply that Facebook is showing ads in places they should not be, because they have inventory they cannot sell?
Attribution means being able to "attribute" a user and the conversions (eg signups, purchases, etc) they do back to your ad spend. So typically, advertisers want to be able to know that e.g. this ad campaign spent $100, led to 5 clicks, which led to 2 sign-ups and 1 purchase. Before the iOS privacy changes, Facebook could piece all those things together even though the ad might be running either on Facebook or another app, and the conversions are happening in your ad. Aka they could "attribute" the events back to the ad. With the new changes, Facebook can't put all those pieces together as easily, so they can either only do it on an aggregated basis (ie not user-by-user), and/or use probabilistic "modeling" to do attribution. This is good for users, since they are less likely to be tracked, but bad for advertisers who now cannot easily know how effective their ad spend is.
> ... efficiency fluctuating
Let's say one day you spend $1000 and get 100 purchases, that's $10 / purchase. A purchase nets $15 for you, so that is good ad spend. The next day, you spend $1000 and only get 50 purchases, so it's $20 / purchase and you are losing money on your ad spend. These numbers fluctuate a lot more wildly than they did in the past, and it seems to happen randomly, making it hard to commit to spending a certain budget.
This is probably related to attribution, because Facebook uses a lot of Machine Learning to predict who to show an ad to, where to show it, etc based on past conversions. But if they can't really attribute past conversions, it's hard for their Machine Learning model to consistently get results.
While I don’t undermine the spying potential of TikTok, the ban was strangely timed - soon after a huge investment from Facebook in India’s biggest company (and one with tremendous lobbying power). Only a handful of Chinese apps were banned, even though majority of devices running them were Chinese as well (and went unbanned).
Facebook very well would have lost the massive Indian market as well without the TikTok ban.