&gt; Does two datapoints help?<p>If we&#x27;re comparing anecdotes, I&#x27;ll offer the 3 companies I&#x27;ve helped build online advertising campaigns for which had a positive ROI.<p>&gt; hopping from one aggressive technology to another<p>I&#x27;d agree with that if the argument was that &quot;this specific ad technology&quot; is going to fail. I totally agree that ex. clickbait headlines are a temporary boom which will disappear soon.<p>But to argue that advertising as an <i>industry</i> is in a bubble, we&#x27;d need evidence that the industry is bigger than historically or what it can support. Which there just isn&#x27;t evidence of (take a look at my other post).