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The Obsolescence of Advertising in the Information Age (2018) [pdf]

80 pointsby skanderbmover 4 years ago

9 comments

tifadg1over 4 years ago
I block all ads everywhere. I&#x27;m not opposed to paying for services I really need, but so far I&#x27;ve found nothing I couldn&#x27;t do without.<p>Ads really made a mess of the internet - content farms, keyword farms, most of google results are paid for, sponsored for, or came from farms. We&#x27;ve really gone full-circle if I have to prepend reddit or stackexchange to get something that&#x27;s not crap. Be it a question about daily life, or a product review, or a tech related thing.<p>Not to mention the brightest engineers, managers are being sucked en-masse into FAANG and the supporting industries, where they waste humanities potential into improving engagement by 0.001%.<p>But then, if everyone did what I did, could capitalism even survive?
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etempletonover 4 years ago
&quot;Today, consumers can get more product information by reading &quot;add to cart&quot; pages on Amazon, or online product reviews on any number of platforms, than they can get from viewing advertisements on bill-boards or television, or through the advertising links placed by Facebook in its feeds and Google at points all across the web.&quot;<p>This creates its own set of problems. Companies looking to sell directly to consumers through their own website lose a powerful way of promoting their product to consumers giving entrenched retailers more power and more control over what is sold to consumers.<p>Does Amazon, Walmart, Target, etc. not promote certain types of products over other, either subtly or overtly? What constitutes advertising?<p>I don&#x27;t think anyone likes misleading or intrusive advertising, but to say that advertising is obsolete is either incredibly naive or put forth in intellectual bad faith.
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blakesterzover 4 years ago
This paper is from 2018.<p>They argue the FTC needs to put the hammer down in different ways now that advertising has changed so much.<p>&quot;Now that the information function of most advertising is obsolete, the FTC should renew its campaign against persuasive advertising by treating all advertising beyond the minimum required to ensure that product information is available to online searchers as monopolization in violation of section 2 of the Sherman Act.&quot;
ChaitanyaSaiover 4 years ago
Interesting argument. Worth keeping in mind that Bloomberg spent over half a Billion dollars to win American Samoa. People seem to give advertising undue credit (like with the Russian election influence idea). Advertising can only burnish your product, not change the story entirely. And perhaps, there&#x27;s a case to be made that the ad itself is a product designed to make you feel better by being part of tribe of consumers. If the argument is that this is unduly influential, then you&#x27;d have to start by banning religious evangelism
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scribuover 4 years ago
The paper proposes a ban on almost all advertising:<p>&gt; It is hard to believe that as late as the 1970s the Federal Trade Commission (FTC) viewed non-false, non-misleading advertising as anticompetitive conduct capable of violating the antitrust laws.<p>&gt; Advertising has the power, through repetition and brand image creation, to induce consumers to buy things that they do not really want, to the disadvantage of competitors selling the things that consumers would otherwise buy.
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libertineover 4 years ago
I honestly think this is a bit of a naive proposition, and an &quot;obsolete&quot; point of view, specially when you factor in the most obvious thing:<p>Advertisement, per definition, is self evident. You have way more &quot;less obvious&quot; marketing tools, like product placement, but even those that are subtle, are in set in a context - like a movie or a tv show.<p>I think it&#x27;s way more troublesome the obscure parts of what the paper claims to be &quot;product information&quot; - that is where true deception and manipulation occurs. This is where your defenses and your guard are down. You don&#x27;t know you&#x27;re being manipulated, even if it&#x27;s a simple paid 5 star review with no review text, it&#x27;s a deceptive bias. Another example, is undisclosed paid promotions&#x2F;reviews from influencers.<p>People would be better off acknowledging that advertising works, and that it is present in media, and we should be critical of it, which I believe in 2020, we&#x27;re aware of it. Else if you&#x27;re going that path, then you can start make monopolies on media and information distribution that arguably serve any agenda - even if that agenda is to gather more share&#x2F;views&#x2F;audiences, and you end up banning media.<p>Because that&#x27;s the truth - the majority of endeavors that are distributed in media have an agenda, and try to manipulated the audiences in some way.<p>With this said, I&#x27;m not saying that all advertising is fine, in fact, this is probably the hardest times for authorities and regulators to control, and fine, abuses. You just need to log on Facebook and see illegal claims being made in advertising, things that would never be allowed on TV&#x2F;Radio&#x2F;Outdoors. Yet they generate massive amounts of reach.
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jarielover 4 years ago
I like reading these by my gosh man, they are always written by people with seeming no material insight into either the practical, strategic or aspirational aspects of branding and marketing. It&#x27;s pretty hard to take any of it very seriously.<p>What&#x27;s just as shocking is how naive most of the tech world is in terms of their understanding of what marketing even is, let alone advertising. Similarity for finance and financial concepts.<p>Advertising and Marketing is a complicated thing, but it&#x27;s part of the structure of business and it&#x27;s far from irrelevant.
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kwhitefootover 4 years ago
&gt; the view that prevails today: that advertising does no more than convey useful product information to consumers.<p>Prevails in which part of society? The vast majority of the few ads that I see at least attempt to be at least mildly misleading by at giving the impression that the product is somehow quite different from competing products but without actually spelling out what the difference really is or whether there really is a difference.
ArtWombover 4 years ago
&gt;&gt;&gt; an age in which 2 of the 5 largest tech firms in the US earn 90% of revenue by selling advertising<p>I feel as if we are right on the cusp of alternatives to ad-sponsered free internet. Web Crypto Mining being one of the more obvious methods to harvest spare compute cycles of peer meshes.
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