AFAICT, internet advertising doesn't work (I never click on any ads). Anyone have theories on how Meta is making so much money (the reason for its insane valuation)?
1. Internet advertising works. I don't click on ads either, but other people do.
2. Social media feed advertisements happen to be pretty effective, and the average person is more receptive to them than other formats, e.g. a YouTube ad that interrupts the video they're trying to watch or a popover ad that blocks an article they're trying to read.
3. Meta has a very mature product for businesses to show ads in a targeted fashion. Half the world's population uses some Meta product every day, so the reach is unparalleled.
That's the point that allows advertisements to be so woefully mis-targeted: Meta doesn't as far as I understand make more money because an ad leads to actual sales.
https://en.wikipedia.org/wiki/Online_advertising#Benefits_of...