> Adtech here, spending is increasing in all things.
This is misleading.
Increasing? Yes.
Increasing relative to view a couple months ago? No. [0]
META's valuation has gotten hammered recently due to reduced ad forecasts on top of AAPL locking down iPhone privacy.
[0] https://www.wsj.com/articles/less-growth-seen-for-2023-u-s-a...