Google and Facebook are using the attention economy with hyper-targeting to such an extent that they are starting to burn their fingers as a result of greed …

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Many of the major brands are withdrawing their ad campaigns from Google as a result of having their ads shown next to video's promoting violence, terrorism, hate speech and extremist views. To top this all, the content creators, are getting a share of the advertising spend.

Major brands’ content was found to be appearing next to videos promoting extremist views or hate speech, with a cut of the advertising spend going to the creators.

Verizon’s ads were featured alongside videos made by Egyptian cleric Wagdi Ghoneim, who was banned from the US over extremism, and the hate preacher Hanif Qureshi, whose preachings were said to have inspired the murder of a politician in Pakistan.

“We are deeply concerned that our ads may have appeared alongside YouTube content promoting terrorism and hate,” an AT&T spokesman said in a statement. “Until Google can ensure this won’t happen again, we are removing our ads from Google’s non-search platforms.”

You can read the full article here

In today's age, we have analytic engines that helped Donald Trump win the presidency of the USA, but Google, YouTube and Facebook don't care enough, to ensure that the billions of advertising dollars spent with them, are giving a good return of investment for their advertisers.

How does the Digital Advertising industry work today?

In the golden days of television, when you wanted to place a television or radio advertisement, you physically had to phone an ad agency, who negotiated a specific rate for a specific slot, and Bob was your Uncle. With the rise of social media and the multitude of new digital assets and media, this process is being replaced by computerised systems called programmatic advertising.

A very similar process is followed in the programmatic advertising fraternity.

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So why is Google in the wrong?

Let me quote an extract from an article that can be read here

With great power comes great responsibility. Or, as Google’s critics say is proven by issues such as this, a total lack of the latter. Google – and Facebook, of which more later – have a near duopoly of control of the entire digital advertising market. The two Silicon Valley giants control almost 60% of the £11bn UK digital ad market, according to eMarketer. And almost 90p of every new £1 of digital ad spend is going to these two players.
Programmatic advertising has gone from zero to accounting for almost 80% of the £3.3bn spent on the display advertising part of the market. As well as raking in the cash, Google is responsible for much of the infrastructure that delivers digital advertising. “Google provides most of the plumbing that enables programmatic,” said Scott Moorhead, founder of media consultancy Aperto One. “Google is not controlling the inventory coming in well enough in advance of making it available. And buyers of ads for clients, the media agencies, are not vetting it themselves.”

Why not use the blockchain and crypto?

Yet another wonderful use-case for Blockchain with Smart Contracts executing with Crypto Currency as a payment method. Come on Steemit and Mitchell Loureiro :)

Let's bring the masses as I believe this can make Steemit go to the moon! And not come back again :)

Surely it is possible with today's technology to develop software which checks the content where advertisements are placed as they are placed. I think it is time that these Social Media giants invests some of the money that they are making into better systems to show that they actually do give a damn.

Happy Steeming!

EDIT: Added Mitchell Loureiro name instead of the new marketing guy

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