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Last year, as the economy began to cool from a post-lockdown shot in the arm, and Apple’s privacy changes started to cripple social platforms’ ability to execute targeted advertising, tech companies faltered—but Google seemed to be insulated.
A mainstay of digital ad plans for decades, and less vulnerable to identifier deprecation as an intent-based media, advertisers said Google was a beneficiary as spending on Meta and other platforms fell.
Now, Google is catching up to the pain facing the rest of the tech industry.