One of the giant iceberg industries - it's all around us but we don’t really see it - is advertising.  Frequently touted as the first to suffer, first to recover on the economic cycle, but also counter cyclical, since you need to sell harder in tougher times. Now we are seeing wobbles in economic data, some serious haircuts in tech exits and layoffs from the great and the good, it seems only right that we double down on a massive global ads market this week to see if it is suffering and if it is - might there be troubles ahead?For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.comYou can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/More on Will Page at: https://pivotaleconomics.com(Times below correspond to the episode without considering any inserted advertisements.)Bubble Trouble: Navigating the World of Digital AdvertisingIn this episode of Bubble Trouble, hosts Richard Kramer and Will Page explore the state of digital advertising, its potential growth, the impact of technological trends, and the challenges it faces in terms of fraud and wasteful spending. They discuss the influence of AI in advertising, the philosophy behind programmatic advertising, and how economic cycles affect advertising spend. They also delve into the strategies employed by big companies like Google, YouTube, Facebook, and Instagram in the face of fraudulent activities. Richard points out marketers' inherent conflicts of interest and the ways AI could enhance ad targeting and testing. The hosts end with an insight into how poor economic periods could push companies to advertise harder to maintain their market presence.00:00 Introduction00:53 Part One01:41 Understanding the Imperfections of the Advertising Market01:57 The Size and Giants of the Advertising Market02:36 The Impact of Social Media and Retail Media on Advertising05:32 The Journey of Advertising: From Brand to Direct21:43 The Influence of AI on Advertising25:22 Addressing Ad Fraud in the Advertising Industry25:48 Part Two26:21 The Problem with Stream Fraud26:39 Understanding the Different Types of Ad Fraud27:20 The Impact of Fraud on the Music Industry28:25 The Role of Bots in Ad Fraud28:28 The Rise of Made-for-Advertising Sites29:16 The Challenges of Programmatic Advertising30:58 The Dangers of Malvertising32:33 The Fear of Outing Fraudsters37:49 The Future of Advertising on WhatsApp43:16 The Impact of Elections on Advertising47:26 The Role of AI in Improving Ad Targeting48:12 The Influence of Advertising on Economic Cycles48:27 Conclusion: The Imperfections and Opportunities in Advertising50:01 Credits Hosted on Acast. See acast.com/privacy for more information.