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If the value of advertising is inflated, one of the pillars of Silicon Valley is at risk.



Not really, that advertising money has to go somewhere. It's an industry of salespeople, so they're probably pretty good convincing people ads are necessary.


That money is going into "utilitarian" computer software, both served over the web or installed on people's phones.

And yes, a bug chunk of it appears to be going away from advertising.




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