Edit: "Sorry your husband lost the money you were saving for a house on stake.com, but here's your free Google search."
https://www.journals.uchicago.edu/doi/abs/10.1086/695475
not merely correlation but causation. the approach used here was part of a family of approaches that won the Nobel in 2012
another good one:
https://pubmed.ncbi.nlm.nih.gov/37275770/
advertising caused increases in treatment and adherence to medicine
the digital ads market is hundreds of billions of dollars, it is a bad idea to generalize about it.
that said, of course ben thompson or whoever, they're not like, citing any of this research, it's still all based on vibes
On the other hand, the advertisement and associated privacy-brokerage industries are a very different story
Spam alone (also advertisement) is quite annoying and destructive.