If modern advertising 1) did not vacuum up personal data in extremely invasive ways, 2) didn't distort the entire business models of the largest tech companies against the interests of the overwhelming majority of their users, and 3) wasn't a broad attack vector on that same user population (dark patterns, outright malware delivery, just plain terrible UX everywhere, etc.)... then there'd probably be very little complaint about advertising, relatively speaking.
Put another way: no one gripes about the existence of Craigslist. Thought experiment: what if the targeted advertising model was illegal, both enforceable and enforced with teeth. How much of what's detrimental about modern advertising would simply vanish, like a bad memory?
>people found that by showing targeted ads they'd have to show less of them to get the same amount of new customers
I mean, did they really? Where can I read about these successes?
I might even acquiesce to some form of push-based ads being broadly beneficial (e.g. for truly novel offerings), but for almost everything that currently shows up as an ad I would much rather be able to efficiently search for it and find it once I'm actually ready to buy than to be inundated with hundreds or thousands of worthless ads ahead of time in the off chance that they'll bring a particular product to the forefront of my mind and sway my purchasing decisions.
That's kind of the point of frameworks like async/await :) Adtech is using a polling system to try and demand my attention with a, let's say, 1% success rate, but we could cut down the noise 100x simply by awaiting my next purchasing decision.
But at least De Beers didn't try to track individual brides and grooms and show them different diamonds based on what they were talking about on the phone. Maybe they do now.
Sobel's The First Junk Bond, gives the mechanics of preservation of the vast onshore reserves, until (I don't have the recall but I think Sobel gives the trigger price) $50/B plateaux.
In 95 I wrote the level of inefficiency in agency transactions was 60%.
In 2018, stories on the embedded framework fraud of online advertising buying, gave the same number for the new system's inefficiency.
Print, my world despite the gasping inhalation of every party I speak with, remains almost unchanged in headline volumes, despite the unbroken prophecy of all trade journalism.
A sign of a broken system that needs urgent repair. Most financial jobs, hft, adtech jobs... We have our best minds working on things that do not provide any useful value to society. This is not a good state of affairs.