Have you worked in the field? Because I have, and I can tell you that ads targeting works. I've built some of these systems that people love to hate on HN. Hundreds of PhDs at Yahoo Labs, Google, FB etc have worked on this for decades and run thousands of A/B experiments. Are you saying that all these people are fraudulent / incompetent and that somehow the whole market cap of Google and FB combined (above 1 trillion dollars) is just a complete fraud?
Contextual advertising works, but much less than behavioral targeting. Anyone who has seen and worked on the data knows that.
Knowing that you just visited Best Buy website 10 minutes ago and searched for a camera is _much_ more relevant to figure out which ad to show you on nytimes.com right now than the content of the article you're reading on nytimes.com
I should probably clarify that I did not mean to say that it doesn't work. What I meant is that it doesn't really work out for the publishers. The parties who profit are just first and foremost the platforms, then come the advertisers, and the publishers come last.
That explains the 1 trillion market cap. And also why Criteo didn't lose money after Apple blocked them from following their users.
I wonder if you can provide me to a study about the difference between Apple/Safari users and Google/Chrome users when it comes to advertising effectiveness, because since Safari users can not be tracked, that means according to your statement the revenue from Safari users would be way less.
Did you read the article? The point of this new platform is contextual ads, instead of personally-targeted ads.