Comment by mschuster91

> In the pharmaceutical industry, I can guarantee their advertising funnel is much wider than two social media platforms. Think about all the places you see pharmaceutical ads: TV, billboards, even ads on buses, that sketchy doctor’s office full of company swag. That $40 million is not going all to Google and Meta even if the GP comment tried to imply it was.

Having worked adjacent to ads... yes, there is more than social media ads. But the amount of everything not social media has massively shrunk!

Local newspapers are effectively dead except for local businesses (and even these are reducing their spend - especially the food delivery services fully rely on Uber, Just Eat etc) and so is radio, and even TV has been hit hard. You got newspapers and broadcast stations getting hit left and right, sliding into bankruptcy and/or being bought up by larger companies for pennies on the dollar. The fact that all across the Western world government/citizen funded public broadcasts are under attack makes it even worse, the diversity of media and, most importantly, the amount of people holding government accountable is collapsing as we speak [1].

Globally, Google, Amazon and Meta suck up over half of the global ad spend and it's not going to look better [2].

[1] https://lizfarmer.substack.com/p/how-the-decline-of-local-ne...

[2] https://www.marketingdive.com/news/global-ad-spend-rise-fast...