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>the more of a black box Meta’s advertising becomes the better the advertising results, even as Meta makes more margin

this one screams 'citation needed' and is not what I'm hearing from people in the field. Would anyone care to share their experience?

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Sounds pretty obvious, why would they be doing something that would hurt their business metrics - which are correlated with increasing ads ROI since it unlocks higher spend.

Did you forget their metaverse spending from two years ago?

I think this might be a general reference to the ever declining efficacy of manual targeting after ATT/GDPR.

So even if automatic (black box) targeting merely maintains its effectiveness, it’s relatively better for advertisers to shift spend towards it at the margin.

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