Shaan Puri spent $3-4 million on Facebook ads last year and made a 90% profit margin. He blames Apple's iOS privacy changes for a $10 billion drop in Facebook's ad revenue, though both hosts expect the platform to find new targeting methods.
Dude, my business is like— my personal business alone gave Facebook like $3 or $4 million last year. Money we pay to Facebook just to rent a piece of their newsfeed. 90% profit margin on that. Like, you know, they're selling not a physical product. They own, you know, so many different huge properties. Like, it's crazy to me that this thing has lost like $400 billion in market cap.
And I don't think that that's actually crazy that they've lost market share, but it's not going to go away.
I think they lost like $10 billion in ad revenue because of like the iOS change. Trust me, these guys are going to figure out what to do. They're going to figure out how to target the ads again. Without the cookie.
They will come up with something. They're not just gonna like die.
