Comment by 0xDEAFBEAD
12 days ago
I agree false demand effects exist. But sometimes ads tell you about products which genuinely improve your life. Or just tell you "this company is willing to spend a lot on ads, they're not just a fly-by-night operation".
One hypothesis for why Africa is underdeveloped is they have too many inefficient mom-and-pop businesses selling uneven-quality products, and not enough major brands working to build strong reputations and exploit economies of scale.
> But sometimes ads tell you about products which genuinely improve your life.
I’d argue that life improvement is so small it’s not worth the damage of false demand. I can maybe think of one product that I saw a random ad for that I actually still use today. I’d say >90% of products being advertised these days are pointless garbage or actually net negative.
Advertising is cancer for the mind and our society severely underestimates the harm it’s done.