AdTech AdTalk

Hosted by two ad industry renegades, this is where the buy side and sell side drop the jargon and get real. Come with what you always wanted to know about the other side — stay to see what happens when innovators come together. Fridays. Noon ET. AdTech AdTalk Live!!

AdTech AdTalk Live!!

Go behind the headlines with Adam Heimlich and Gareth Glaser!

As industry insiders, they cut through the noise and challenge the biggest names in the business to explain what’s really going on. AdTech AdTalk is a live weekly conversation where innovators, disruptors, and executives face the tough questions. If you want to understand the other side of the adtech ecosystem, your seat is right here.

Hosted by two ad industry renegades, this is where the buy side and sell side drop the jargon and get real. Come with what you always wanted to know about the other side — stay to see what happens when innovators come together. Fridays. Noon ET. AdTech AdTalk Live!!

AdTech AdTalk Live!!

Adam Heimlich and Gareth Glaser tackle the unsealing of the government's 108-page Google ad tech antitrust remedies document. Adam and Gareth break down the core structural issue in digital publishing: why every major website is forced to maintain two separate demand setups—Google Ad Manager (GAM) for Google demand and Prebid/TAM for everything else—rather than running a single unified auction. Gareth explains that if AdX and AdWords are forced to bid into Prebid on equal terms, up to 80% of publishers who lack direct sales teams could abandon GAM entirely, speeding up web page loads and opening up true competition among sell-side ad servers. The hosts dive into Scott Messer's viral analysis highlighting a glaring loophole in the remedies that permits AdWords to continue favoring AdX whenever Google claims it provides superior advertiser value, privacy, or fraud protection. Adam counters with a historical parallel to the 2001 Microsoft Windows antitrust settlement, arguing that behavioral remedies can succeed when executive leadership tires of regulatory litigation and chooses to compete on product quality rather than illegal ties. To wrap up, the hosts analyze an Ad Age report detailing OpenAI's path toward a $100 billion ad business. They examine why top early spenders like Capital One and Expedia are experiencing disastrous direct-response performance on ChatGPT. Gareth and Adam explain that unlike Facebook or Fox News, where passive scrolling environments drive impulse clicks, reading-focused LLM users simply do not engage with performance ads. KEY TOPICS The DOJ Remedies Document & The "One Line" Unified Auction: Adam and Gareth analyze the government's 108-page antitrust filing, explaining how forcing AdX to bid directly into Prebid could allow the 80% of publishers without direct sales teams to abandon GAM entirely. Scott Messer's Loophole & AdWords Favoritism: The hosts discuss Scott Messer's warning that Google can exploit a remedy clause allowing AdWords to prioritize AdX whenever Google asserts that AdX delivers higher ROI, better data, or superior privacy. Microsoft 2001 Parallels & Corporate Mindset Shifts: Adam draws a direct comparison to the 2001 Microsoft Windows settlement, predicting that Google's executive leadership will eventually tire of fighting regulators and choose to win through genuine product innovation. OpenAI's Ad Revenue Dreams vs. Diabolical DR Performance: The hosts dissect ChatGPT's ad network ambitions, noting that top early spenders like Capital One and Expedia are seeing terrible direct-response results because LLM users are actively studying rather than browsing for impulse buys. Legacy Ad Server Latency & Taboola's UK Acquisition: Gareth highlights Taboola's £27 million UK publisher acquisition, while Adam points out that legacy GAM implementations artificially add 600 milliseconds of unnecessary latency to every page load on the internet. 00:00 Show Intro & Mind Sticker Pre-Roll 01:05 Reading the 108-Page DOJ Google Antitrust Remedies Document 02:39 The "Two Lines" Problem: GAM vs. Prebid 05:14 Can Publishers Move to a Single Prebid Line? 07:52 Why 80% of GAM Users Don't Actually Need an Ad Server 11:46 Large Publisher Legacy Infrastructure & Offboarding Hurdles 15:10 Scott Messer's Loophole: How AdWords Can Still Favor AdX 21:48 Microsoft 2001 Parallels: Will Google Leadership Just Stop Cheating? 25:47 Why Google Harvested Third-Party Publisher Data 32:48 Tobin's Question: Buy-Side Policy & Thin Auctions 38:32 Capital Inflows & The 600ms Ad Server Latency Tax 44:11 Ad Age OpenAI Story & ChatGPT's Top Ad Spenders 46:50 Why LLM Users Don't Click DR Ads (The Fox News Comparison) 52:28 Innovid, Video Ad Serving, & Taboola's £27M UK M&A 57:48 Top Ad Tech Nations & Next Week Preview The Remedies Episode

The Remedies Episode

On the 25th anniversary of 9/11, Adam Heimlich and Gareth Glaser open with personal reflections on the anxiety of "Anthrax Night" in New York City before pivoting into a fiery breakdown of the latest ad tech shake-ups. Gareth kicks off the sell-side conversation by breaking down why "buying traffic" is finally shedding its MFA stigma. He explains how smart publishers are utilizing paid marketing for "user exfiltration"—extracting users from walled gardens like Facebook to build direct audience relationships and measure lifetime value. The buy side is just as turbulent. Adam reveals that Amazon is aggressively pitching its Bedrock Agent Core to major agencies and publishers, positioning itself to be the "master UI" that controls all other AI agents. This sparks a critical debate on whether tech giants like Google and Meta will ever allow Amazon's master agent to manage their platforms, or if they will freeze them out. The hosts also dive into the brutal consolidation happening at the publisher "last mile," discussing Raptive and other Prebid management platforms throwing around aggressive revenue guarantees in a race to conquer the mid-to-long tail of the open web. Wrapping up, the duo takes aim at the hypocrisy of agency holding company conflicts after Publicis snatched the Pepsi account while still servicing Coke in certain regions. Referencing industry legend Mark Ritson, Adam and Gareth point out the absurdity that agencies are forced to build physical walls between competitor teams, while Silicon Valley tech giants pool the data of bitter rivals into a single algorithm without anyone batting an eye. This sets the stage for a compelling argument on the true value of isolated, per-advertiser modeling. KEY TOPICS • Publisher Paid Traffic & "User Exfiltration": Gareth explains how the perception of publishers buying traffic is shifting away from MFA spam, viewing it instead as a legitimate arbitrage strategy to pull users out of Facebook and build direct lifetime value. • The Death of RSS & Clunky Newsletters: The hosts lament the loss of Google Reader and RSS feeds, criticizing the modern pivot to email newsletters as a clunky, disorganized user experience compared to unified feed consumption. • Amazon Bedrock's Aggressive Master Agent Play: Adam reveals that Amazon is moving quickly to sign deals with agencies for Bedrock Agent Core, attempting to become the central "master UI" that governs all other advertising AI agents. • Prebid Management Consolidation & Revenue Guarantees: Gareth outlines the intense, knife-fight competition among outsourced publisher ad stack managers, where massive revenue guarantees are sparking suspicion and driving rapid market consolidation. • The Hypocrisy of Holding Company Conflicts: Following Publicis winning the Pepsi account, the hosts laugh at the double standard where advertising agencies must build physical walls to separate competitors, while Google and Meta pool rival data into the same black-box algorithms without scrutiny. 00:00 Vintage Coffee Commercial & Show Intro 02:06 9/11 Memories and the Forgotten "Anthrax Night" 05:46 The End of the MFA Stigma for Buying Traffic 08:39 User Exfiltration: Stealing Audiences from Walled Gardens 11:46 We Need RSS Feeds Back: The Clunky Newsletter Problem 19:41 Amazon Bedrock's Aggressive Master UI Deals 24:37 The Agent Wars: Will Google Talk to Amazon's Agent? 27:48 Chalice's Bet on Modular Enterprise Architecture 30:38 Brian O'Kelley's Scope3 Vision vs. Big Tech's Reality 34:50 Holding Company Agent Swarms vs. Big Tech 38:19 Publisher Prebid Management: Suspicious Revenue Guarantees 45:12 "Competing with Knives": Consolidation in the Publisher Last Mile 48:24 Amazon Publisher Services and the Death of S2S Header Bidding 51:22 Publicis Wins Pepsi: The Hypocrisy of Agency Conflicts 55:46 Clean Rooms and the Value of Per-Advertiser Data Isolation 58:23 Back to School Season & Getting Kids to the Bus Consolidation & Aggression

Consolidation & Aggression

Adam Heimlich and Gareth Glaser return for an action-packed episode following a chaotic 36 hours of breaking ad tech news. Adam kicks off the show by calling out Hightouch's recent case study against LiveRamp, explaining why claiming higher match rates than Google for CRM email uploads is fundamentally flawed and missing LiveRamp's true purpose as a modular identity translation layer. The hosts also examine Publicis' acquisition of LiveRamp alongside Epsilon and Conversant, building a fully integrated holding company tech stack while stealing the massive Pepsi account from Omnicom. The conversation pivots to a fiery breakdown of the Google antitrust ruling. Adam and Gareth dismantle the public misconception that Google "won" anything, detailing how Google's defense was laughed out of court by an 80-year-old judge and how Google launched Buyer Direct at 10% out of desperation. They analyze why a structural breakup failed, comparing the DOJ's potential behavioral remedies to the historic 2001 Microsoft Windows settlement. They also expose how Google Campaign Manager and Meta rely on probabilistic "modeled conversions" on iOS to trick automated AI budget allocators into handing them unearned attribution credit. To wrap up, Adam and Gareth break down the FTC's lawsuit against Amazon Sponsored Ads for artificially inflating winning bids in private second-price auctions, and recount how Meta's "Jedi Blue" deal with Google crippled mobile Prebid adoption. Finally, the hosts outline a joint plan to build guaranteed direct sales rules directly into Prebid, creating a open-source alternative to Google Buyer Direct. KEY TOPICS Identity Translation vs. CRM Match Rates: Adam roasts Hightouch's case study against LiveRamp, explaining that uploading CRM lists directly to walled gardens requires no middleman, while LiveRamp's real value lies in modular identity handoffs above platforms. Publicis, LiveRamp, and the Pepsi Account Stunner: The hosts analyze why Publicis acquired LiveRamp to protect its per-advertiser modeling pipeline, while celebrating Publicis snatching the global Pepsi account from Omnicom. Google Antitrust Reality & "Modeled Conversion" Scams: Adam and Gareth explain that Google lost its antitrust trial badly, while exposing how Google and Meta use probabilistic "modeled conversions" to manufacture fake attribution credit on iOS devices. FTC Suing Amazon Over Second-Price Auction Gaming: The hosts break down the FTC's fraud lawsuit against Amazon Sponsored Ads for placing phantom second-price bids against buyers to artificially inflate final auction prices. Building a Prebid Direct Sales Competitor to Google: Gareth and Adam map out how priority direct-serving logic can be built into Prebid in weeks, giving publishers and buyers a way to execute guaranteed deals outside GAM. 00:00 Grease Opening & Show Intro 01:55 Hightouch vs. LiveRamp: The Flawed Case Study 03:50 Publicis Acquiring LiveRamp & The End-to-End Stack 09:22 Publicis Wins Pepsi Account from Omnicom 12:23 Google Antitrust Ruling: "They Didn't Win Sh_t" 17:00 Why Divestiture Failed & The Microsoft Remedy Model 22:58 Google Campaign Manager & Fake "Modeled Conversions" 28:06 Incrementality Modeling & Chalice Seed Controls 31:00 B2B Programmatic & The Challenge of Tech Buying 40:10 FTC Sues Amazon Sponsored Ads for Auction Gaming 50:44 Meta, Jedi Blue & The Collapse of Mobile Prebid 58:03 Building Guaranteed Direct Sales into Prebid They Didn't Win Sh*t

They Didn't Win Sh*t

Fresh off vacation, Adam Heimlich and Gareth Glaser return for an unfiltered look at digital advertising’s shifting landscape. The show opens with an honest discussion on leadership friction, founder existential dread, and the contrasting "publisher dread" currently gripping the open web. Gareth likens the current state of digital publishing to being stuck on a 150-year-old sinking ocean liner, exploring how publishers are navigating traffic declines, Google AI Overviews, and the transition toward lifetime value (LTV) tracking and direct audience relationships. On the buy side, Adam reveals a hilarious yet frustrating trend: major agency holding companies are sending Chalice RFIs that verbatim repeat Chalice’s own modular AI pitch back to him after seven years. The hosts dissect why agency data aggregation models inherently output average performance for enterprise brands, while analyzing the broader macroeconomic shift as traditional consumer ad spend contracts and migrates into growth sectors like pharma, GLP-1 weight loss drugs, sports betting, and gaming. The episode climaxes with a deep dive into Taboola’s game-changing deal to manage NBC Universal’s programmatic sales. Gareth and Adam evaluate Taboola’s closed-loop performance model, its massive SMB advertiser scale, and why Wall Street is severely hypocritical in its valuation of Taboola compared to trade DSPs. They close with a spirited debate on agentic ad tech protocols, Beeswax history, and why AI will inevitably accelerate the in-housing of $500M+ enterprise ad budgets. KEY TOPICS Publisher Existential Dread & The Traffic Plateau: Gareth described open web traffic decline as a sinking 150-year-old liner, noting that while traffic has hit rock bottom, bright spots exist in local news adopting LTV tracking and gaming sites with direct type-in audiences. Agency RFIs & The Flaw of Data Aggregation: Adam shared that agency holding companies are sending him RFIs repeating Chalice's exact modular AI pitch back to him, noting that generic agency stacks aggregate data to output average results rather than custom enterprise optimization. The Rise of Pharma & Shifting Consumer Economies: Adam and Gareth noted that traditional consumer brand categories like beer and snacks are contracting in a slowing economy, shifting ad spend into growth sectors like pharma, GLP-1s, sports betting, and gaming. Taboola’s NBC Deal & The Closed-Loop Performance Model: Gareth highlighted Taboola taking over NBC Universal's programmatic sales, arguing that Taboola's closed-loop 65/35 revenue split and SMB onboarding infrastructure make it a massively undervalued performance powerhouse. Agentic Ad Tech & Accelerating Brand In-Housing: The hosts discussed how AI agents will streamline campaign execution, predicting an accelerated wave of brand in-housing that will challenge traditional agency fee structures. CHAPTER TIMESTAMPS 00:00 Golf Shop Pre-Roll & Show Intro 01:10 Leadership Team Meltdowns & Founder Dread 05:43 State of the Open Web: Sinking Liners & Traffic Drops 07:32 Publisher Survival: LTV Tracking & Gaming Sites 12:13 Google AI Overviews & The Review Site Dilemma 17:30 Yahoo Finance, Weather & Black-Hat SEO Traffic 19:25 State of the Buy Side: Agencies Quoting Chalice's Pitch 22:22 Why Aggregated Agency Data Outputs Average Results 24:17 Contracting Economies vs. Pharma & GLP-1 Ad Spend 28:06 Free Trade, Inflation & TV Price Deflation 31:33 DSP Custom Algorithms & Beeswax History 37:47 Taboola Takes Over NBC Universal's Programmatic Sales 42:04 Why Taboola is Massively Undervalued vs. DSPs 49:01 The Open Web vs. Taboola's Publisher Guarantees 54:03 Agentic Ad Tech, ADCP & Swivel Debates 59:21 Reaching Rock Bottom: Reimagining the Open Web Rock Bottom = Good News

Rock Bottom = Good News

Adam Heimlich (representing the buy side) and Gareth Glaser (representing the sell side) dive into a packed earnings season episode examining major structural shifts across digital advertising. The hosts open with a deep dive into the emerging "infrastructure layer" thesis, comparing cloud plays like AWS Fabric and Amazon Publisher Services (APS/TAM) to Prebid setups. They analyze how Amazon gains auction advantages by running proprietary code on publisher pages outside Prebid’s rules, while also highlighting Amazon Bedrock's leadership in multi-LLM model management. The central theme of the show turns to the "Revenge of the SSP". Gareth and Adam break down why supply-side platforms are reinventing themselves as ad tech infrastructure providers through real-time containerization (ARTF) integrations with companies like Chalice across Index Exchange, OpenX, PubMatic, and Magnite. They explore PubMatic's stellar earnings driven by a 30% reduction in infrastructure costs, Magnite's hybrid cloud/on-prem strategy, and how curation accidentally achieved the true goals of Supply Path Optimization (SPO). The hosts also contrast DSP data-hoarding with SSP log-file transparency, dissect Nielsen's acquisition of DoubleVerify alongside Cybids and Rockerbox, and engage in a spirited debate over biddable media versus packaged direct sales using an "omakase vs. buying the whole cow" butcher metaphor. They wrap up with a spicy "Postmortem" segment roasting Jonah Goodhart’s case study on serving ads to AI agents, with Gareth framing prompt-injecting LLMs as nothing more than black-hat SEO. 2. Key Topics The Infrastructure Play & Amazon APS Advantage: Gareth and Adam examine how scaled ad tech is shifting toward cloud infrastructure layers, noting that Amazon's APS/TAM gains an edge by running outside Prebid's open-source rules and timeouts. "Revenge of the SSP" & Real-Time Containerization (ARTF): Adam and Gareth explain that SSPs are thriving by transforming into open architecture and containerized decisioning hubs (ARTF), enabling tools like Chalice to lower infra costs and drive publisher revenue. DSP Data Hoarding vs. SSP Log Transparency: The hosts contrast SSPs' willingness to share raw log files for custom algorithmic optimization against DSPs' historical tendency to withhold logs under the pretense of privacy. Direct Sales ("The Whole Cow") vs. Biddable Programmatic ("Omakase"): Gareth and Adam debate inventory packaging, arguing that direct-sold packages force buyers to pay for unwanted filler ("the whole cow"), whereas impression-level biddable programmatic delivers targeted value ("omakase"). Ads for AI Agents & Black-Hat Prompt Injection: In the Postmortem segment, Gareth critiques Jonah Goodhart's case study on context-injecting ads into LLMs, calling it spammy black-hat SEO that models like Claude will actively reject. 00:00 Show Intro & Summer Earnings Energy 02:26 The Fabric Architecture & Infrastructure vs Application Layer 04:43 Amazon APS/TAM & Prebid Rule Bypassing 12:15 Amazon Bedrock & Multi-LLM Modular Architecture 14:42 Real-Time Containerization (ARTF) Across Index, OpenX & PubMatic 16:58 PubMatic Earnings Blowout & Cost Reductions 21:05 Magnite's Hybrid Cloud/On-Prem Whitepaper 24:18 "Revenge of the SSP" & Accidental SPO 27:04 DSP Shifts, Trade Desk & Log File Access 34:02 John D'Souza Comment on Amazon Logs & AMC Clean Rooms 36:58 Nielsen Acquiring DoubleVerify, Cybids & Rockerbox 43:36 Ali Manning on AdExchanger & The Origins of ARTF 45:21 Regional Allocation Optimization (YouTube, Meta & DSPs) 48:24 The Great Packaging Debate: Omakase vs. The Whole Cow 54:51 Agentic Buying & Strategy Selection 58:07 Postmortem: Jonah Goodhart vs. Will Kakowski on Ads for AI Agents Revenge of the SSP

Revenge of the SSP

After recovering from a truly bizarre pre-roll video featuring an opossum massage, hosts Adam Heimlich and Gareth Glaser dive deep into defining their core operating philosophies for Chalice and Gamera. Adam lays out his "Two Architectures" thesis, arguing that enterprise advertisers require unique, one-at-a-time AI stacks based on their own data, rather than the "pooled stacks" used by small businesses, to prevent brand equity erosion and slows growth. Gareth counters with a critique of the shaken faith in programmatic, specifically among publishers moving back toward direct sales, necessitating a new thesis on "Trust in Programmatic." The hosts litigate the complete lack of standards and enforcement in "seller-defined" programmatic fields, which publishers have historically gamed to satisfied generic, pooled DSP algorithms that fail to spread value across opportunities. The conversation shifts to the distinction between data, measurement, and optimization. Adam asserts that Chalice is uniquely optimizing empirical page metrics—like network calls and refresh rates—against robust per-advertiser valuations. Gareth advocates for a zero-trust approach, positioning Gamera as the necessary neutral third party to objectively label inventory and create feedback loops for publishers. In the news segment, the hosts analyze Omnicom’s recent earnings call, slamming CEO John Wren for punting on analyst questions regarding whether AI efficiency savings benefit the agency or the advertiser. Adam and Gareth express deep skepticism over agency claims of multi-year internal AI builds, suggesting they are likely relying on generic tools from Google and Microsoft. They close with Ian Whitaker’s analysis of Microsoft versus Meta capex spending, analyzing why the market rationalizes Microsoft’s compute investments as widgets to be sold, but remains skeptical of Zuckerberg’s ability to translate massive hardware bets into an impregnable advertising moat. KEY TOPICS The Two Architectures of AI Advertising: Adam argues that enterprise advertisers require unique, single-advertiser AI software architectures to utilize their own data effectively, asserting that generic, pooled stacks designed for small advertisers cause brand erosion and slow growth. Zero Trust in Programmatic Bidstreams: Gareth posits that programmatic requires a shift to a "zero-trust" environment because most bidstream fields, excluding the URL, are unpoliced, "seller-defined" data points that publishers often game to maximize yield from pooled bidding algorithms. Curation as Per-Advertiser Optimization: Gareth traces the origin of curation back to seller-side traders using App Nexus, arguing it succeeds because ad ops people use it to perform per-campaign optimization that generic, mono-lithic DSP algorithms do not perform by default. Measurement vs. Optimization in Attention: Adam and Gareth debate attention, with Adam criticizing standard pooled definitions and claiming Chalice is the only player robustly correlating empirical page metrics, like network calls, against actual advertiser outcomes to determine optimal pricing. The Agency AI Investment Bluff: Analyzing Omnicom’s earnings call, Adam and Gareth critique agency CEOs for evading questions on how AI savings are distributed, suggesting a lack of faith in actual internal tool development versus reliance on Google or Microsoft. CHAPTER TIMESTAMPS 00:00 Apossum Massage Madness & Intro 02:29 The Adam Loves AdTech Blog Engagment 04:31 Adam's Thesis: The Two Architectures of AI Advertising 08:23 Gareth's Thesis: Shaken Faith in Programmatic 09:37 The Lack of Trust & Standards in Bidstream Fields 11:44 Publisher Shenanigans & The Failure to Spread Value 13:20 The Need for Neutral Third Parties & Zero Trust 16:40 Objective Site Assessment vs. Gamed GPIDs 22:00 The App Nexus Origins of Curation 24:30 Why Curation Works: Beating the DSP Algo 29:23 Does AdTech Actually Care About Advertiser Performance? 31:47 Dissecting Data, Optimization, & Measurement 34:54 Viewability Table Stakes vs. Gamed Inventory 39:50 JS Logs, iframes, and Closing the Pub Loop 43:30 Gamera Business Model & Free Publisher Monitoring 45:41 News Pubs & Oracle's Brand Safety Vacuum 50:50 News: Agency Earnings, AI Savings & The John Wren Punt 52:55 Moving too Fast: The Pony Scheme Analogy 55:51 News: Meta vs. Microsoft Capex & Ian Whitaker Analysis 59:12 Social Media is Just a Website 1:00:32 Singularity & Next Week: Kaiju Open Weight Model Fight I Have a Thesis

I Have a Thesis

Adam and Gareth return after a week off, diving straight into high-level ad tech analysis. The hosts tackle how user IDs and audience targeting are evolving in modern advertising. Rather than viewing IDs as rigid segment buckets, they explore how advanced buyers like Chalice treat IDs as correlation fields to drive flexible propensity scoring and true incrementality modeling. The conversation moves into market economics, the shifting balance of power between CMOs and CFOs, and the bull vs. bear cases for programmatic technology. Gareth and Adam break down why ghost bidding often produces messy data compared to clean public service announcement (PSA) control groups, why retail media networks are primarily useful for conquesting rather than loyalty targeting, and how programmatic tech fees could theoretically compress down to a lean 15% to 18%. Finally, the hosts unpack technical mechanics on the supply side, explaining how open web native ads operate at a component level and why supply-side platforms (SSPs) like Media.net, TripleLift, and Magnite lead format innovation. They close out with a candid discussion on publisher revenues dropping 40% in Q2, an infuriating case study of a luxury brand irrationally blocking news publishers, and a witty critique of Sam Altman's rumored $100 billion AI ad network ambitions. Key Topics User ID Propensity Scoring & Incrementality: Adam and Gareth explained that user IDs should be treated as flexible correlation fields for propensity scoring and incrementality rather than rigid target audience buckets. The Flaw of Retail Media Networks & Ghost Bidding: Adam noted that retail media networks mostly hold repeat-buyer data best suited for brand conquesting, while ghost bidding creates unreliable data compared to clear PSA control testing. Bull vs. Bear Cases for Programmatic & AI: Gareth presented a bear case where middleware vendors re-complicate ad tech and Google Cloud locks in buyers, while Adam shared a bull case where tech fees compress to 15-18% and programmatic expands into mid-market performance budgets. SSP Formats & Mechanics of Open Web Native Ads: Gareth detailed how true native advertising delivers structured component arrays rather than pre-assembled banner tags, explaining why SSPs like Media.net, TripleLift, and Magnite drive format creation. Publisher Squeeze & Irrational News Blocking: Adam and Gareth discussed how search retention hurts publisher traffic, sharing a real-world story of a luxury brand cutting news inventory despite high campaign performance. 00:00 Toilet Privacy Sensor & Show Intro 01:19 User IDs, Audience Targeting & Chalice 04:02 Propensity Scoring vs. Rigid Bucketing 06:10 The Retail Media Network Conquesting Dilemma 08:27 Incrementality: PSAs vs. Ghost Bidding 12:02 CFO Power & Marketing Mix Modeling (MMM) 15:15 The Branded Search Tax & ADT Security Story 18:15 Low Viewability Waste & Zero-Trust Bid Fields 24:24 Bull vs. Bear Cases for AI & Ad Tech Efficiency 36:30 Open Web Video Distribution & Maldo's Birthday 39:22 Media.net & Why SSPs Own Format Innovation 45:19 How Open Web Native Ads Actually Work 49:20 Publisher Q2 Traffic Squeeze & Google Retention 53:31 Luxury Brands & The Irrational News Block 55:40 Blog Plugs, Twitter Feuds & Sam Altman's Ad Dreams Is It Recipe Sites? Or Is It Cake?

Is It Recipe Sites? Or Is It Cake?

Adam and Gareth return to tackle the pollution of the media ecosystem, from AI-generated "slop" on LinkedIn to the strategy of flooding the zone with fake news. The guys dive deep into the philosophical roots of Palantir CEO Alex Karp, exploring how his studies in ontology under Jurgen Habermas in Germany led to the realization that AI training models desperately need human knowledge workers for proper data labeling. This same need for consistent taxonomy paved the way for companies like Jounce Media and Sincera to redefine quality in ad tech. The main event focuses on Google's new "Buyer Direct" product within Google Ad Manager (GAM). Gareth argues that Google's unified architecture could easily kill complex Agentic workflows in the crib, proving that "automation doesn't beat architecture". Adam points out that while publishers may love Google's unfathomably low 10% take rate, it's ultimately "fruit of the poisonous tree"—a massive competitive advantage born directly from Google's monopolistic tying of AdX and GAM. Plus, the guys discuss Warner Bros. Discovery building an ad stack on AWS, why CTV is still wildly mispriced due to information asymmetry, and why publishers are finally opting out of Google Search. Key Topics: - The Flood of AI Slop: How AI is polluting the media landscape and making it impossible to discern genuine expertise on LinkedIn. - Alex Karp's Ontology: How the Palantir CEO's background in German social theory applies directly to the manual labeling required for AI training data. - Google Buyer Direct: Why Google's low-fee, direct-to-publisher pipeline could completely bypass DSPs and destroy fragmented Agentic workflows. - Fruit of the Poisonous Tree: Why Google's 10% take rate is an anti-competitive advantage stemming from their illegal tying of the publisher ad server. - Opting Out of Google Search: Why publishers are finally blocking Google's AI crawlers as AI overviews cannibalize their organic traffic. Chapter Timestamps: 00:00 Intro: Restraining Ad Tech Opinions 01:20 The Rise of AI-Generated LinkedIn Takes 04:06 Flooding the Zone & Media Pollution 06:21 Alex Karp, Ontology, and the Need for Data Labeling 10:12 Sincera, Jounce Media, and Ad Placement Taxonomy 15:09 Google's Buyer Direct vs. Agentic Workflows 21:26 Why Automation Doesn't Beat Architecture 23:21 Fruit of the Poisonous Tree: Google's 10% Margin 25:33 The Overlord Model vs. Free Financial Markets 33:43 SMB Advertising, Taboola, and Outbrain 38:03 Ad Tech for Car Dealerships & Healthcare 40:04 Warner Bros. Discovery Builds on AWS 44:24 Information Asymmetry and CTV Mispricing 47:39 Publishers Opting Out of Google Search 56:40 The Token Economy: Anthropic vs. Fable AI Fruit of the Poisonous Tree

Fruit of the Poisonous Tree

Adam and Gareth return from their post-Cannes Lions haze to break down a wild week of acquisitions, executive manifestos, and deleted LinkedIn posts. The guys kick off with a recap of the Cannes "boondoggle," where ad exchanges and platforms throw massive yacht parties and take over entire hotels to woo CMOs. Shifting to the tech stack, they discuss how AI is supercharging CRMs and customer service, including the shock for Pylon's CEO when their Claude enterprise pricing jumped from $600k to $3M. Adam and Gareth then dissect Sir Martin Sorrell's critique of holding company bureaucracy, as well as Keith Weisberg's quickly deleted post calling out agencies for pitching a "barrage of buzzwords" rather than proving their AI capabilities. They also unpack the juicy details of a controversial Meta tell-all book, Walmart's rumored $1.4 billion acquisition of Vibe, Satya Nadella's AI manifesto, and Alex Karp's buzzword-heavy Palantir-Zeta Global partnership. Key Topics: - The Cannes Lions Boondoggle: Why the festival is less about shared events and more about massive corporate flexing and yacht parties. - The Cost of AI in SaaS: How tools like Pylon and Granola are revolutionizing asynchronous communication, but facing massive enterprise API costs. - Holding Company Bureaucracy: Sir Martin Sorrell's debate on whether agencies should organize by market or capability. - Fake Agentic AI: Calling out the industry's habit of selling "a barrage of buzzwords" instead of showing real ROI and case studies. - The Vibe Acquisition: Breaking down the massive 17x multiple and $180M founder earnouts in Walmart's reported acquisition of Vibe. - The White-Collar Industrial Revolution: Satya Nadella's pushback on AI doomerism and why LLMs are uniquely targeting the bourgeoisie. 00:00 Intro & Cannes Lions Recap 11:27 AI in Sales, Pylon, & The Cost of Claude 19:03 Sir Martin Sorrell on HoldCo Taxonomy 28:04 Keith Weisberg Calls Out Fake Agentic AI 33:54 The Meta Tell-All Book "Careless People" 40:08 Walmart's $1.4B Acquisition of Vibe 54:18 Satya Nadella's AI Manifesto 58:48 Alex Karp, Palantir, and Zeta Global Barrage of Buzzwords

Barrage of Buzzwords

Adam and Gareth return for an absolute blockbuster episode of Adtech Ad Talk, kicking off with the biggest breaking news in the industry: Publicis and The Trade Desk have officially buried the hatchet and are back in the room together. To celebrate the end of this fierce corporate feud, the guys debut an incredible, AI-generated southern rap track summarizing the high-stakes reconciliation. The duo tackles the shifting dynamics of the AdTech landscape, breaking down why the hard binary split between the buy-side and sell-side is fundamentally dissolving as platforms move toward unified execution environments. Gareth unpacks how Meta's post-ATT pivot allowed them to perfect their "Andromeda" value function, driving an insane $50 billion optimization lift completely independent of traditional user IDs. Finally, they pull back the curtain on the "nasty" reality of dynamic take rates and hidden arbitrage in the middle, explore why the smartest marketing teams are born out of hyper-competitive industries like CPG, and feature a stunning, jarring viewer submission in Creative Corner. Key Topics: - Publicis & The Trade Desk Reunite: Breaking down the end of the feud and the power dynamics of their new handshake. - The Dissolving Buy/Sell Divide: Why legacy, siloed DSP/SSP integrations are giving way to single-environment optimization. - Meta's Post-ID Blueprint: How Apple's privacy changes forced Meta to build a superior, multi-feature recommender system. - The Dynamic Take Rate Trap: Unpacking how middleman platforms exploit averaging bounds to harvest massive margins from publishers. - Creative Corner: A powerful, unforgettable print ad highlighting period poverty and institutional shame. 00:00 Intro: An Amped-Up Friday Blockbuster 01:36 World Premiere: The Publicis & Trade Desk Reconciliation Rap 05:23 Pre-Cannes Musings & The Certainty of Change 06:18 The History of Failed DSP/SSP Mergers (Rubicon & Chango) 08:08 The Death of the Legacy Buy-Side vs. Sell-Side Mindset 11:32 Harvesting the Spread: The Advertiser's Right to Alpha 14:18 The User ID Imbalance and Pacing Complexities 16:02 How Apple's ATT Birthed Meta's $50B Recommender Engine 18:41 The Looming AI Carnage for Unprepared Agencies 22:55 The Rise of MCP and Direct Data Set Access 25:31 Smartitude: Ranking Clients by Industry Competition 26:30 The "Mafia State" of Publisher Arbitrage and Last Look 28:29 Why Competition is the Only Way to Raise Publisher CPMs 30:20 The Secret Rules of Transparency Pricing in CTV 32:55 Beyond Taxonomies: Scoring Attributes on a Spectrum 34:36 The Legacy of Cognitive (The OGs of Custom Modeling) 35:46 Obstacles in the Trade Desk API (An Accidental Origin Story) 37:02 Creative Corner: A Uniquely Jarring Print Ad from South Africa 37:37 Outro: Bringing Back the Beat Hands on the Contract, Eyes on the Bag

Hands on the Contract, Eyes on the Bag

Adam and Gareth break down the mind-bending "Data Gravity Theory of Adtech" introduced by industry gadfly Tom Truscari. Using a literal physics equation, they litigate whether consolidating data sets actually drives better outcomes for marketers, or if it simply forces enterprise brands into a "platform average" that dilutes their private modeling advantages. Adam shares a historical perspective on how big brands accidentally "donate" their data to ad networks, which then use it to fuel and spawn copycat competitors. The guys also dive into the return of click-driving campaigns, revisiting Comscore's famous 2008 study "Natural Born Clickers" to remind everyone that 10% of users generate the vast majority of web clicks. They expose why Google's mobile interstitial ads are their most profitable unit, look back at the 1990s Sears & Roebuck mail-order math that birthed modern addressable marketing, and laugh at a tech CEO's "new" warning about AI optimization traps that Adam actually published a decade ago. Finally, the conversation takes a wild turn into psychedelic 70s cinema, Werner Herzog, and how an ancient Persian mathematician's name evolved into the word "algorithm." Key Topics: - The Data Gravity Theory: Breaking down Truscari’s equation on data mass, friction, and M&A consolidation. - The Market Expansion Trap: How pooling enterprise data accidentally creates and scales your direct competitors. - Natural Born Clickers: Why optimizing for clicks is a dangerous heuristic that targets a tiny, non-representative slice of humanity. - The 19th-Century Roots of AdTech: Why addressable targeting is actually just rehashed Sears & Roebuck catalog math. - The Origin of the Algorithm: A quick historical detour into Al-Khwarizmi, algebra, and ancient Persian mathematics. 00:00 Intro: Singularity Hype & The Knicks Finals Run 03:05 Who is Tom Truscari? (Newsletter Idiosyncrasies) 04:53 Explaining the Data Gravity Equation: Mass vs. Friction 11:37 Does More Data Scale Marketer Performance or Just the Platforms? 17:49 The Data Bypass Mechanism and Private Valuations 22:20 19th-Century Ad Math: Sears & Roebuck and Capital One 25:27 Industry Debates: Bemoaning Paid Publisher Traffic 33:29 Are Clicks Coming Back? (Bottoming Out vs. New Demand) 35:49 The "Natural Born Clickers" Study & Mobile Interstitials 38:09 The Unintended Consequences of AI (A Decade-Old Rant) 43:24 XAI Valuation & Suing the Advertisers 46:31 Is LLM Search Intent Real or Just Hype? 49:34 Detour: 'The Holy Mountain' (1973) & Werner Herzog 52:23 Public School Calendars & Zoroastrian Sky Burials 54:30 From Al-Khwarizmi to Algebra: The First Algorithm Natural Born Clickers

Natural Born Clickers

Adam and Gareth dive into a philosophical and wide-ranging episode centered around the Pope's new encyclical on Artificial Intelligence. They unpack the Vatican's fears regarding humans becoming mere metrics, rising economic inequality, and the manipulation of truth. Gareth discusses the Pope's comparison of AI to the Tower of Babel—warning that a single homogenizing technology could eliminate human diversity and spirituality. The duo also explores why the AI boom is effectively the "Industrial Revolution for white-collar workers," threatening knowledge workers while leaving manual labor untouched. They debate the growing epidemic of "AI slop" on LinkedIn, the bizarre rise of AI-generated "talking toe fungus" affiliate ads, and a startling BYU study claiming a massive percentage of committed adults are having affairs with AI chatbots. Finally, Adam compares programmatic ad networks to brokerages and custom AI valuation models to hedge funds, explaining why enterprise brands need bespoke decisioning architectures (like Coke vs. Pepsi) rather than aggregated averages. Key Topics: The Pope's AI Encyclical: Analyzing the Vatican's warning against AI monopolies and the "Tower of Babel" effect. The White-Collar Industrial Revolution: Why LLMs pose a unique threat to writers, lawyers, and consultants. AI Chatbot Affairs: Reacting to a BYU study on the rise of AI chatbot romances among committed adults. Brokerages vs. Hedge Funds: Why massive enterprise advertisers need custom valuation models instead of aggregated ad network averages. 90s Foreshadowing & AI Ads: From the 1994 Singapore caning to AI-generated toe fungus commercials. 00:00 Intro, Tampa Weddings & Cannes Prep 04:15 The 1994 Singapore Caning & 90s Foreshadowing 09:53 AI-Generated Toe Fungus Ads 10:53 The Pope's Encyclical on AI 14:55 AI Liability & The Anarchist Cookbook 17:01 The Industrial Revolution for White-Collar Workers 24:51 Outsourced Cognition & LinkedIn "AI Slop" 28:28 The Pope's True Fears: Metrics & Inequality 31:05 The Tower of Babel Narrative 38:29 The BYU Study on AI Chatbot Affairs 45:46 Coke vs. Pepsi: The Flaw in Averaged AI Models 55:16 Brokerages vs. Hedge Funds in Ad Tech 59:03 SpaceX's S1 & Twitter Ad Revenue 01:03:46 OpenAds Pivots to a DSP Let's Get Encyclical

Let's Get Encyclical

Adam (broadcasting from a hotel in Tampa) and Gareth tackle a massive week in AdTech, leading with Publicis's shocking acquisition of LiveRamp. They unpack why LiveRamp's true value isn't just its identity graph, but its ubiquitous "plumbing" that connects enterprise CRM data to the entire ecosystem, and the strategic "implication" this has for non-Publicis clients. Next, they compare the impending Agentic AI revolution to the 1960s shipping container boom and the creation of OpenRTB, exploring how standardization creates massive efficiency gains for the adopters (like Walmart did with RFID). Finally, they discuss why enterprise brands are tired of renting decisioning from ad networks, the difference between custom valuation (alpha) and averaged ad network decisioning, and debut a brand new segment: ATAT on the Street in Brooklyn! 00:00 Intro: Adam's Hotel Wi-Fi 02:28 The Shipping Container Revolution & Agentic AI 08:48 OpenRTB: AdTech's First Shipping Container 12:42 Breaking News: Publicis Acquires LiveRamp 14:54 Terry Kawaja's Take on Agentic AI 18:06 Why Publicis Made the Deal (Growth & Capital) 19:32 The Magic of LiveRamp's Plumbing 24:34 Identity Graphs & Defensibility 34:06 Holding Companies, Epsilon, and Xaxis 43:24 Mark Grether, Uber, and PayPal Ad Networks 47:11 Why Brands Are Done "Renting Decisioning" 52:00 Custom Valuation vs. Averaged AI 59:24 ATAT on the Street: Brooklyn Reacts to AI Because of the Implication

Because of the Implication

Adam and Gareth shake off their hangovers (and espresso martinis) to dive into an incredibly weird week in ad tech. The guys kick things off with a debate over Jeff Green’s "open internet" positioning, looking closely at Q1 earnings that show Meta growing at a massive 33% while the open internet trails behind. Adam explains why the rise of GLP-1 weight-loss drugs is forcing CPG brands into a vicious knife fight for market share, driving massive growth in Retail Media Networks (RMNs). Gareth unpacks how Swivel's agentic ad ops are dominating CTV by exploiting waterfall pricing asymmetry, and why he desperately wants the industry to return to Vickrey (second-price) auctions to end the inherent inefficiency of bid shading. Plus, a look at the spicy $18M lawsuit between TV measurement giants EDO and iSpot, the IAB’s new Programmatic Governance Council, and a bizarre Congressional hearing. Key Topics: Q1 Earnings Breakdown: Why Meta is growing like a startup at 33%, while the open web struggles to keep pace. The GLP-1 Effect: How shrinking snack and alcohol categories are pushing CPG budgets directly into Retail Media Networks. Why Meta is Beating Google: Adam theorizes that Apple’s privacy changes forced Meta to build superior LLM-based predictive modeling, while Google got lazy with ID-finding. Agentic Ad Ops in CTV: How companies like Swivel are using AI agents to run 100 manual interactions per hour to game CTV waterfalls. Agentic Ad Ops (Swivel): How new AI agents are outperforming human traders in the CTV market by running 100 manual interactions per hour. 00:00 Intro: Detroit Offsite & Espresso Martinis 04:56 Twitter Drama: Jeff Green's "Open Internet" Pitch 11:15 Q1 Earnings: Meta's Massive Growth vs. TTD 13:11 Retail Media Networks & The GLP-1 Threat to CPGs 20:49 Why Amazon's Ad Tech Codebase is Weird 21:07 Why Meta is Beating Google (The Apple Privacy Pivot) 25:27 Swivel's Agentic Ad Ops & CTV Waterfalling 34:04 The Split Brain of DSPs and SSPs 42:25 EDO vs. iSpot: The $18M Lawsuit & Spicy Quotes 45:00 IAB Governance Council & The ACRONYM Coalition 52:00 The DSP/SSP Paradigm is Unsustainable 58:04 Kash Patel, Jeffrey Epstein, and Adfin I'll Take Any Test You're Willing To Take

I'll Take Any Test You're Willing To Take

Adam and Gareth return to the virtual studio to debate the definition of Supply Path Optimization (SPO) and why the sell-side and buy-side can never seem to agree on what it actually means. They are joined by OpenX CEO Matt Sattel to discuss his transition from the agency world to the SSP side, and why OpenX made the expensive, grueling leap to cloud infrastructure back in 2019 to prepare for the AI era. The trio unpacks the industry's so-called "Grand Bargain," debating whether a multilateral committee can truly fix the adversarial relationship between DSPs and SSPs. Gareth argues that ID Bridging is secretly a brilliant conversion-optimization engine in disguise, while Adam pitches his "Premium Coffee" theory to explain how publishers can finally escape the MFA (Made For Advertising) race to the bottom. Plus, a look at why 50% of programmatic ad requests are filtered out, and what OpenX really means by their new "Intelligent SSP" rebrand. 00:00 Intro: The "Bright Lights" of Live Shows 03:03 The Arc of the Sophisticated CMO 06:56 Introducing Matt Sattel (CEO, OpenX) 10:04 The Two Definitions of SPO 13:16 The Premium Coffee Theory (Escaping MFA) 14:52 Filtering Out 50 Billion Requests a Day 16:41 The "Grand Bargain" Between Buyers and Sellers 19:39 Gareth's Take: ID Bridging is Actually Optimization 24:14 The True Cost of Eliminating MFA 27:28 Google's Role in the MFA Epidemic 32:41 The "Lego Baseplate" Strategy 38:42 Why OpenX Moved to the Cloud in 2019 44:07 Direct Sales & Agentic Buying (ADCP) 51:30 Differentiated Demand for Publishers 57:40 The Intelligent SSP Rebrand The Grand Bargain (ft. Matt Sattel, OpenX)

The Grand Bargain (ft. Matt Sattel, OpenX)

It's an all-Adam episode this week! With Gareth out, Adam Heimlich is joined by stealth startup founder and product leader Adam Markey to discuss the reality of building an ad tech company from scratch in the AI era. The guys dive deep into the philosophy of AI adoption, contrasting Anthropic's enterprise-focused "Constitutional AI" against OpenAI's consumer-driven, entertainment-style models. Markey shares how using Claude as a "full-stack" co-founder has drastically reduced product development cycles from six months to just three days. Plus, they explore why treating AI as a "replacement human" is the wrong starting point, how to avoid AI-generated "slop" in both creative and media planning, and why Anthropic's $20 billion valuation might actually be justified if they can maintain their compounding context moat. Finally, they touch on the IAB’s Agentic Realtime Framework (ARTF), the return of "frenemy" collaboration in ad tech, and why Meta's insane 33% revenue growth is tied directly to their massive investments in server compute. 00:00 Intro: Welcome to Planet Ad Tech 03:45 Bootstrapping a Startup in the AI Era 06:40 Using AI for Complex Rule Prioritization 08:13 Anthropic vs. OpenAI: Enterprise vs. Consumer 12:03 Claude’s "Compounding Context" Moat 14:28 Building a RevOps Dashboard in 2 Hours 16:45 Change Management and Full-Stack Founders 19:59 AI as a Force Multiplier, Not a Replacement 25:35 The Value of Markdown Files for Context 28:06 AI as the Ultimate Information Condenser 32:28 Anthropic’s Path to Profitability 37:25 Working with Google’s "Stitch" Design Agent 39:07 The Edge of AI: Humor, Differentiation, and "Slop" 44:09 Agentic Standards (ADCP & ARTF) 51:03 Advice for Product Managers at Legacy DSPs 53:50 The Enterprise Rush to Adopt AI 59:49 Meta's 33% Growth and the Server Compute Race Claude the Gaude (ft. Adam Markey)

Claude the Gaude (ft. Adam Markey)

Adam and Gareth dive into a chaotic start to Q2 in ad tech, leading off with Meta's jaw-dropping "triple hockey stick" growth in revenue per employee. They discuss how Meta’s ruthless AI shift—including tracking employee keystrokes for training data—is driving massive margins, even as hands-on buyers complain about constant bugs and platform outages. The guys also cover the rise of "Index Cloud" and Bedrock (a DSP living natively inside an SSP), explaining why the traditional DSP/SSP divide is collapsing and how this new architecture enables ultra-low-latency bidding for live sports. Plus, Gareth goes on a rant about the rampant QPS duplication problem in programmatic, they debate the return of Vickrey (Victory) auctions, and they react to a spicy $18M legal battle between TV measurement giants EDO and iSpot. Finally, Adam shares his frustration with the IAB's new Programmatic Governance Council and pitches his own "ACRONYM" coalition to guarantee 80% working media for advertisers. 00:00 Intro: An Explosive Start to Q2 01:36 We Are in the Third Inning of AI in Ad Tech 04:23 Meta's "Triple Hockey Stick" Revenue per Head 05:15 Tracking Employee Keystrokes for AI Training 09:08 The Broken Meta Ad Experience & Bugs 16:19 Meta's Internal AI Models (Andromeda & Muse Spark) 20:14 Can the Open Web Compete with Walled Gardens? 30:37 News: The Trade Desk Launches AI Agents 31:39 Index Cloud & Bedrock (A DSP Inside an SSP) 37:59 Data Scientists vs. DSP Engineers 43:21 The 3 Million QPS Myth & Bid Duplication 45:31 Vickrey Auctions and Bid Shading 48:22 EDO vs. iSpot: The $18M Lawsuit & Spicy Quotes 50:45 The IAB's New Programmatic Governance Council 51:54 ACRONYM & The Push for 80% Working Media 57:56 The Lutnick / Epstein Ad Tech Connection Triple Hockey Stick

Triple Hockey Stick

Adam and Gareth reunite in the virtual studio after a week apart, and they have a lot of philosophical ground to cover. Gareth shares a bizarre realization about startup growth—comparing a mature company to a "disembodied brain"—and how AI is acting as the ultimate force multiplier for lean teams. They debate the value of the "founder struggle," questioning if the current generation of entrepreneurs will lose resilience now that AI can write complex code and solve technical crises in 30 seconds. On the industry front, they tackle the latest IAB Tech Lab standard (DTE) and whether "traffic shaping" is just a polite word for throttling. Gareth explains why the "split brain" architecture of DSPs and SSPs makes optimal decisioning impossible, and why the Agentic Realtime Framework (ARTF) is the only real fix. Plus, a look at Allbirds pivoting from sneakers to AI data centers, the rise of AI-generated "slop" on LinkedIn, and why Salesforce's new Agentforce might be a desperate defense against Claude disintermediating their entire business model. Key Topics: The Disembodied Brain: How a startup evolves as you hire, and what it means when AI becomes your hands and feet. The Death of Getting Lost: Does the convenience of AI tools strip founders of the resilience needed to survive crises? Traffic Shaping vs. Throttling: Breaking down the IAB's new DTE standard and the architectural impossibility of the "split brain." Allbirds Pivots to AI: Why the market rewarded a failing DTC sneaker company for becoming a GPU rental service. Salesforce vs. Claude: Is Salesforce's Agentforce a true innovation, or a defensive moat against demand aggregation? 00:00 Intro: Adam Returns from Vacation 01:05 Startup Burn Rates & The "Disembodied Brain" 03:08 AI as a Force Multiplier 04:24 The Value of the Founder Struggle 06:22 The 90s: When You Could Actually Get "Stood Up" 11:32 AI "Slop" and the Premium on Human Content 16:49 Can AI Replace the Enterprise Sales Playbook? 19:51 The 15 Commitments of Conscious Leadership 24:39 The OpenAI "Molotov" Backlash 30:12 What Knowledge is Playbookable? 35:54 News: Allbirds Pivots from Sneakers to AI 39:31 IAB Tech Lab's New DTE Standard 41:19 The "Split Brain" Problem in Ad Tech 48:39 Postmortem: ADCP vs. ARTF (The IAB Standard Wins) 01:01:46 Salesforce's Agentforce vs. Claude Dynamic Bulldinky

Dynamic Bulldinky

With Adam out this week, Gareth flies solo to drop four massive predictions about the next five years of ad tech. Spoiler alert: The current system is unsustainable. Gareth argues that the traditional DSP/SSP paradigm is dying , crushed under the weight of Deal IDs and conflicting decisioning engines. He explains why the future of ad tech architecture lies in open, modular bidding frameworks (like ARTF) where custom logic can be executed natively without "middleman" friction. But the spiciest prediction? Google Ad Manager (GAM) is about to have a massive resurgence. Gareth theorizes that if ADCP (Automated Direct Sales) succeeds, GAM will emerge as the ultimate direct sales engine, bypassing DSPs entirely for enterprise buyers who want to set up cross-publisher campaigns with zero tech tax. Plus, he tackles the inevitable rise of "orchestration layers," why the mid-market is about to see a DSP renaissance , and why the shift away from ID-based buying will finally force publishers to reduce ad density and increase quality. Key Topics: The Death of DSPs & SSPs: Why splitting campaign logic between two platforms using Deal IDs is no longer architecturally viable. The Return of GAM: How ADCP could turn Google Ad Manager into a direct competitor to traditional DSPs. The Orchestration Era: Why modern bidding systems will look less like DSPs and more like open hubs for modular valuation and data vendors. The End of Ad Density: Why the shift to predictive modeling (and away from IDs) will finally reward publishers for running fewer, higher-quality ads. The LiveRamp EU Struggle: Why strict European privacy laws (GDPR) are making PII-based identity graphs incredibly difficult to operate abroad. 00:00 Intro: Gareth Flying Solo 01:57 Prediction 1: The End of the DSP/SSP Paradigm 04:08 The Architectural Flaw of Deal IDs 08:34 Prediction 2: The GAMpire Strikes Back (Google Ad Manager) 10:14 How ADCP Turns GAM into a DSP Competitor 12:27 Prediction 3: A Proliferation of Mid-Market DSPs 15:01 The Approaching SSP Bloodbath 18:22 The Rise of the "Orchestration Layer" 22:50 Prediction 4: Publisher CPMs Will Go Up 24:55 Why User IDs and Cookie Syncing are Commodities 27:09 The Frequency Capping Problem with ADCP 30:14 The LiveRamp EU/UK Privacy Struggle 33:49 The Bull Case for Fingerprinting & Synthetic Audiences 34:21 Outro The GAMpire Strikes Back

The GAMpire Strikes Back

Adam and Gareth are joined in the virtual studio by Laura Manning, SVP of Data and Measurement at SINT. They break down the fundamentals of Brand Lift 101, explaining how SINT acts as the infrastructure matching survey-takers across the internet with relevant ad exposure data. Gareth details exactly why traditional attribution models fail massive enterprise brands like Procter & Gamble. The trio also discusses the agonizing eight-year waiting list to get into Google's Ads Data Hub (ADH), and why allowing walled gardens to report their own brand lift metrics is essentially letting them grade their own homework. Finally, Adam explains why the shift from linear broadcast to digital resulted in an "epidemic of waste" due to algorithms driving frequency instead of true reach. Key Topics: - What is SINT: Acting as a DSP for online research that matches respondents with surveys. - Attribution vs. Brand Lift: Why enterprise CPG brands don't rely on clicks and e-commerce tracking. - The "O" Word: Using survey response data via API to actually optimize campaigns in real-time. - The White Whale: SINT's years-long quest to integrate with Google's Ads Data Hub. - The Reach Problem: Why digital algorithms inherently favor frequency over reach, unlike traditional linear TV. 00:00 Intro 00:57 Introducing Laura Manning & SINT 06:40 Attribution vs. Brand Lift 08:28 How SINT Measures Brand Lift 12:10 Standard Survey Questions 14:12 The "O" Word (Optimization) 25:16 Google's Ads Data Hub 28:50 Linear TV vs. Digital Reach 39:10 Post-Mortem: Is Brand Lift a "Cope"? Hunting a White Whale

Hunting a White Whale

Gareth powers through a blown-out back to join Adam for a loaded episode exploring the true value of data and the hidden mechanics of media buying. They kick things off by breaking down Gamera's new viewability segments in the Index Exchange marketplace, exposing how antiquated, manual ad slot labeling in Google Ad Manager is suppressing publisher yield, and how AI is fixing it. The duo dives deep into the philosophy that raw signal is just "gold in a mine" without the right prediction models to extract its value. They also unpack the ANA's latest study on Principal Media buying, shedding light on the clandestine world of agency secondary liquidation and "barter" agencies. Plus, a look at Microsoft’s baffling apathy toward its own ad tech stack, the dirty Facebook arbitrage secret that fueled Made For Advertising (MFA) sites, and the landmark negligence ruling against Meta for social media addiction. Key Topics: Automating Viewability: Why manual ad ops labeling is costing publishers money, and how Gamera's on-page AI creates predictive viewability segments. The "Gold in a Mine" Philosophy: Why data is commoditized and the real competitive moat is modeling. Microsoft's Missed Opportunity: Why a tech giant with Azure, LinkedIn, Xander, and OpenAI is ignoring the ad tech wars. Principal Media & Barter Agencies: Breaking down how holding companies liquidate bulk media buys (and occasionally trade ads for pizza sauce). The MFA Arbitrage Secret: How MFA publishers used Facebook remarketing to poach high-value programmatic users. Social Media Liability: Meta's landmark loss in a social media addiction case and the rise of "digital citizenship" in elementary schools. 00:00 Intro & Gareth's Blown Back 02:44 Gamera Viewability Segments in Index 04:49 The Manual Nightmare of Google Ad Manager 10:32 Data is Gold in a Mine 14:51 Google's MMM & The Enterprise Fight 18:18 The "Affinity for Yogurt" Trap 20:41 How Big Tech Captured All Marginal Value 24:15 Microsoft's Baffling Ad Tech Apathy 33:48 ANA Study: Demystifying Principal Media 38:36 Barter Agencies & Pizza Sauce Trades 42:41 Why Google & Facebook Broke the Agency Model 46:01 Value vs. Cost & Vinnie Rinaldi's Post 49:25 The Dirty Secret of MFA Arbitrage 51:53 Meta Loses Social Media Addiction Case 58:21 The Guardian & Publisher Direct Sales 01:01:36 Outro & The Ibuprofen Overdose Story Gold in a Mine

Gold in a Mine

Adam and Gareth log in to the virtual studio to unpack a week of industry backstabbing, gossip, and the true meaning of "transparency." While the industry argues over who is to blame for the lack of clarity in programmatic, the duo highlights a quote from Hershey's Vinnie Rinaldi, arguing that it's ultimately up to advertisers to demand proof of value rather than just hunting for low CPMs. The guys break down the evolution of the enterprise market, explaining why CFOs don't care about vanity metrics like Video Completion Rates when evaluating a $100 million digital investment. They discuss how brands are starting to apply the same rigorous causal inference models to ad tech that they currently use for their physical supply chains. Plus, a deep dive into the CTV ad server wars (Freewheel vs. Publica vs. SpringServe), a look at OpenAds' rapid pivot from LLM networks to a creative-first DSP, and a spicy prediction on what Netflix should (and probably will) do with its burgeoning ad business. Key Topics: The Transparency Debate: Why agencies and ad tech nerds define "transparency" completely differently. The Value of Digital Media: Why the enterprise market must move past vanity metrics and demand real ROI proof. Supply Chain Logic: How brands are treating ad tech data like logistics data. CTV Ad Serving: The rise of Publica and SpringServe, and why legacy players missed the boat. Netflix's Ad Future: Will they open up to biddable programmatic, or build a walled garden for SMBs? 00:00 Intro: Virtual Sets & Industry Gossip 03:09 Jay Friedman & Vinnie Rinaldi on Transparency 08:37 Why Advertisers Must Demand Value 11:38 The Enterprise Wake-Up Call (CFO Scrutiny) 16:14 Applying Supply Chain Logic to Ad Tech 22:02 The "Agentic" Layer Debate 24:31 Why Publishers Still Love Direct Sales 28:14 SSPs Becoming DSPs (The Blurring Lines) 30:30 The CTV Ad Server Wars (Freewheel vs. SpringServe) 32:16 The Rise of Retail Media Ad Servers 38:09 Vinnie Rinaldi's Media Playbook 42:49 OpenAds Pivots to Creative AI 46:16 Why Publishers Feel Betrayed by Programmatic 49:06 Speculating on Netflix's Ad Strategy 55:05 The Danger of Hiding Publisher Data 01:00:45 Closing Thoughts: Models & World Peace We Think Ads Are Starting to Work Better

We Think Ads Are Starting to Work Better

Adam and Gareth return from the spring conference circuit (RampUp and Beeler Basecamp) feeling reflective. Adam unpacks the repressed trauma of the startup grind, while Gareth shares a brutal story of getting stiffed for $350k by an industry "partner" and why selling your company doesn't automatically mean a happy ending. On the industry front, the duo tears into the "weird garbageness" of the Connected TV (CTV) market. They explain how 12-hour ad caches create shady "dark pools" for arbitrage, and why premium publishers are fleeing biddable CTV for guaranteed deals. Adam revisits his classic pitch on why relying on Facebook’s algorithm forces DTC brands to subsidize their own competitors, and Gareth drops his spiciest take of 2026: Yield management no longer exists. Plus, a deep dive into how User IDs are artificially inflating programmatic auction prices, why SSPs are effectively becoming DSPs via the Agentic Realtime Framework (ARTF), and a hilarious look at a new AI app for couples founded by a former mobile ad network CEO. Key Topics: Founder Trauma: The emotional toll of bootstrapping, getting scammed, and surviving corporate acquisitions. The CTV Garbage Fire: Why Connected TV pricing is broken and how long cache windows enable arbitrage. The DTC Trap: How Meta captures the value of direct-to-consumer brands by giving away their audience data. The Death of Yield Management: Gareth argues that modern SSPs don't manage yield; they just manage prebid competition. The ID Illusion: Why bidding based on inventory signals is vastly cheaper than bidding on DSP audience IDs. 00:29 Intro & Conference Exhaustion 02:08 Repressing Founder Trauma 06:01 Life After the Company Sale 08:46 The CTV Garbage Fire 11:44 CTV Arbitrage & Dark Pools 13:45 How Facebook Eats DTC Brands 16:18 The Unhinged Agency Hiring Process 21:30 The Problem With User IDs 28:33 Bid Decoration & ARTF 30:14 Postmortem: Yield Management is Dead 38:05 Why Open Path Isn't an SSP 42:11 SSPs are the New DSPs 48:49 AI vs Principal Trading 52:32 Ad Tech Meets AI Sex Apps User IDs and the Powers That Be

User IDs and the Powers That Be

Adam and Gareth return from their respective conferences (RampUp and Beeler Basecamp) to unpack a massive news week in the ad tech world. The duo dives straight into the "knife fight" of sell-side monetization, unpacking why publishers are getting bullied over ads.txt files and why managing prebid auctions is a brutal, low-margin business. Then, they pivot to the biggest stories of the week: The Trade Desk’s soft guidance, the market’s overreaction, and why everyone needs to stop freaking out about OpenAI having meetings with Jeff Green. Plus, they explore the wild theories behind AppLovin’s explosive stock growth, debate whether "performance" is still a moat in 2026, and roast the increasingly aggressive AI bots sliding into LinkedIn DMs. 00:00 Intro: Conference Exhaustion & Beeler Basecamp 03:03 The Ads.txt Bullying Problem 05:46 The Knife Fight of Publisher Yield Management 08:24 Publisher CPMs vs. Buy-Side Costs 16:08 TTD Earnings & The Market Overreaction 23:44 OpenAI Meets with The Trade Desk 28:51 Will OpenAI Compete with Google Search? 32:00 Anthropic vs. OpenAI: The Enterprise AI Race 48:07 Postmortem: AppLovin's Google Playbook 51:30 The "Street Thesis" on AppLovin's Growth 58:43 StinkedIn: Aggressive AI Bots & "Negging" Crime Don't Climb

Crime Don't Climb

It’s earnings season in AdTech, and the juice is definitely dripping! Adam and Gareth tackle a jam-packed news cycle, starting with the mess that is Supply Path Optimization (SPO) and why the industry’s "transparency" efforts, like sellers.json and ads.txt, are causing buyers to blindly block legitimate publisher agents. Then, the duo dives into the explosive Digiday whistleblower report exposing the "Carnage" of Principal-Based Buying and the clandestine world of agency rebates. Are advertisers getting played by their own procurement departments? And why is the biggest player in the market conveniently avoiding the mud? Finally, they break down The Trade Desk’s soft earnings guidance. Is TTD in a death spiral, or just returning to earth after years of insane market froth? Adam and Gareth debate how TTD won the DSP wars of 2015 via "bid expressiveness" and whether performance alone is still a big enough moat in the modular, AI-driven landscape of 2026. 00:00 Intro: Earnings Season is a Dumpster Fire 01:57 The Mess of Supply Path Optimization (SPO) 05:25 The History of ads.txt and "Resellers" 12:23 News: The Whistleblower & Principal Buying 18:02 How Rebates Warp Media Planning 22:19 Defending Against Principal Buying 25:21 The Bizarre Pricing Inefficiency of CTV 30:55 The Logic of DSP Bidding & Valuation 37:25 The "Two Markets" of Ad Tech 41:50 TTD Earnings: Is The Trade Desk in a Death Spiral? 47:28 How Trade Desk Won the Consolidation Wars 53:35 Bid Expressiveness: The Original TTD Pitch 58:24 Can Open Path Survive the Backlash? The Juice Is Dripping

The Juice Is Dripping

Adam and Gareth are back to sort through the noise in an episode packed wall-to-wall with industry drama. From the Pentagon to the Cayman Islands, it’s a pure news day on AdTech AdTalk, and the theme is "Carnage." First up, the guys unpack Anthropic's "woke AI" feud with the Pentagon and Palantir, complete with a bizarre Gen-X fun fact about Peter Thiel's childhood in Namibia. Then, they tackle the slow adoption of AI by CMOs, debating whether "Agentic AI" is actually driving innovation or just finding new ways to cut jobs. The drama heats up as they cover Jeffrey Epstein's strange (and brief) connection to programmatic futures, the controversy over ICE buying location data, and the explosive Digiday report about WPP and Dentsu pulling out of The Trade Desk's Open Path over hidden fees. Plus, Adam and Gareth weigh in on the ADCP vs. ARTF standards "showdown," Mark Zuckerberg's landmark child safety trial, and why LinkedIn's search bar remains the worst product on the internet. 00:00 Intro: Cold Weather & Ad Tech Carnage 02:34 Anthropic, The Pentagon & Woke AI 06:04 Peter Thiel's Namibian Childhood 09:44 CMOs & Slow AI Adoption 11:53 The Day of the Yellow Square 16:41 Sheep Dogging the Algorithm 22:40 Agentic Buzzwords vs. Real AI 27:18 Jeffrey Epstein's Ad Tech Connections 30:42 ICE's RFP for Location Data 36:56 Digiday Scoop: Agencies Exit Open Path 46:01 Agency Rebates to the Cayman Islands 49:22 Showdown: ADCP vs. ARTF Standards 53:41 Zuckerberg Testifies on Child Safety 58:24 Intent IQ's Cross-Device Patent Lawsuit 01:01:00 StinkedIn: The Worst Search Bar Ever Coverage of the Carnage

Coverage of the Carnage

Gareth is in "manic sales mode" as Gamera and Chalice both celebrate investments from The Trade Desk’s venture arm (TD7). The duo breaks down why the future of ad tech isn't about blocking competitors, but playing in the same "sandbox"—moving from a philosophy of "Or" to "And." They dive deep into the IAB Tech Lab's Agentic Realtime Framework (ARTF), debating if these new containerized solutions are just "smarter ad networks" without the grift. Adam defends the new MRC auction transparency standards (despite grumpy publishers), arguing that "Universal Price Floors" were meant to trap Google, not squeeze the open web. Plus, a roast of LinkedIn’s algorithm (Lou Paskalis’s legs vs. actual news), a Creative Corner on the Gen Z trend of "Friction Maxing," and Adam’s conspiracy theory that Elon Musk’s entire business roadmap is just the plot of the movie Total Recall. 00:00 Intro: Manic Sales Energy 03:41 Sell-Side Decisioning & ARTF Adoption 07:09 Re-Imagining the Ad Tech Company 11:00 Are These Just Smarter Ad Networks? 16:10 TD7 Investments & The "Sandbox" Mentality 21:46 StinkedIn: Lou's Legs vs. Industry News 31:01 News: MRC Auction Standards Controversy 38:18 Cross-Platform Measurement Hope 43:42 Creative Corner: Friction Maxing 52:15 Theory: Elon Musk is Re-enacting Total Recall 53:49 Segment: Gateway to the Soul Instead of Or, It's And

Instead of Or, It's And

In this special episode, Adam and Gareth present a deep dive into the industry's most complex new standard: The IAB Tech Lab’s Agentic Realtime Framework (ARTF). The duo uses three distinct metaphors to break down how "Containerization" is moving the ad auction to the edge. They explain how High-Frequency Trading (HFT) infrastructure revolutionized finance (and why ad tech is next), why the modern DSP should be treated like a Bento Box rather than a prix fixe meal, and how the history of Shipping Containers predicts who will actually get rich from the AI boom (hint: it’s probably not the AI companies). Featuring guest commentary from Index Exchange and OpenX, this episode cuts through the noise of "Agentic AI" to explain the actual plumbing, how 1-millisecond microservices are unbundling the stack and restoring yield to publishers. 00:00 Intro: The "Container Explainer" 01:08 Metaphor 1: High-Frequency Trading & Flash Boys 04:46 Containerization vs. Colocation 06:08 The Meditation (100ms vs. 1ms) 08:50 Metaphor 2: The Bento Box (Unbundling the DSP) 11:00 The Agentic Framework Architecture 12:56 Metaphor 3: Shipping Containers & Value Capture 16:09 Prebid’s Legacy: Moving Integration to the Edge 19:10 The DSP Identity Crisis: Enterprise vs. SMB 21:08 Intro to ACRONYM (Non-Profit) 22:00 Index Exchange on Sell-Side Decisioning 24:54 OpenX on Unbundling & Data Security 26:00 Future Use Cases: Mutations & Bid Shading 29:12 ARTF vs. ADCP: What’s the Difference? 32:50 Closing Thoughts: Collaboration is Key The Container Explainer

The Container Explainer

Gareth is out, and the "most interesting person on the planet" is in. Adam is joined by Chalice AI’s SVP of Data Science, Tylynn Pettrey, for a high-speed masterclass on the history of predictive modeling, from 19th-century planetary orbits to the transformer architectures powering 2026’s agentic workflows. Tylynn breaks down complex math into plain English, explaining why "more data" isn't always better (the curse of dimensionality), why some algorithms break the bank on computing costs, and why AdTech is finally catching up to High-Frequency Trading. Plus, we answer audience questions on Quantum Computing, the death of the R programming language, and why Tylynn kept a mass spectrometer in her garage during the pandemic. 00:00 Intro: The Data Science Takeover 02:40 Linear Regression: Connecting the Dots 05:37 Logistic Regression & The S-Curve 09:12 Decision Trees: The Medical Diagnosis Logic 10:56 K-Nearest Neighbors & Lookalikes 13:13 Neural Networks: The Factory Assembly Line 16:18 Back Propagation: Learning from Error 18:32 Random Forests: Crowd-Sourced Math 19:50 Support Vector Machines (SVM) & Big O Notation 22:25 Skills for 2026: Python vs. R vs. Rust 24:54 Deep Learning & Sparse Data 28:40 Transformers & Attention Mechanisms 33:18 The Imbalance Problem: Synthetic Data 38:54 Scoring: AUC and Probability 41:42 Q&A: Is Agentic AI Hype? 43:10 Q&A: Quantum Computing in AdTech 48:25 Q&A: Is R Dead? 51:15 The Mass Spectrometer in the Garage 53:20 Curate AI: Low Latency Scoring in Rust Ask an Expert (ft. Tylynn Pettrey, Chalice AI)

Ask an Expert (ft. Tylynn Pettrey, Chalice AI)

Things are getting spicy on AdTech AdTalk. Adam (Buy Side) and Gareth (Sell Side) are joined by the industry’s unofficial oracle, Mike McNeeley (SVP of Product, Index Exchange), to tackle the erosion of trust in the programmatic supply chain. The trio dives deep into the controversy of "publisher-declared fields", why letting sellers grade their own homework is leading to ID spoofing, and why the OpenRTB spec is long overdue for a rigid overhaul. Mike pulls back the curtain on how Index Exchange polices inventory quality and why "friction" is a necessary feature, not a bug. Later, the crew pivots to product management philosophy, debating how to build for "fragmolidation" without over-engineering. Plus, they break down the massive news that Amazon is adopting Prebid (a win for open standards?), and Gareth roasts the "robotic m-dash" plaguing everyone's LinkedIn feeds. 00:00 Intro & The Ad Tech Oracle 02:39 The Lying Field Problem 04:41 OpenRTB Specs 101 07:32 The Stock Market Fraud Analogy 10:56 Who Is Accountable for Fraud? 12:44 Index Exchange’s Quality Gates 17:45 Fixing the OpenRTB Spec 22:25 Brand Safety Lag Kills News 26:14 Salience vs. Suitability 29:49 Scaling Product Teams 35:48 The "Loss URL" Rabbit Hole 43:00 Agentic Frameworks & Sidecars 46:11 WSJ: CEOs vs. Workers on AI 48:03 Stop Using AI for LinkedIn 53:45 The "Tinder for Networking" Idea 58:07 News: Amazon Adopts Prebid 1:02:30 A Win for Open Standards 1:08:21 Rapper Wars & Snowfalls Cynicsthesia (ft. Mike McNeeley, Index Exchange)

Cynicsthesia (ft. Mike McNeeley, Index Exchange)

In this episode, Adam and Gareth embrace the chaos of 2026. Adam recounts a hilarious (and almost illegal) run-in with the NYPD at a "massage parlor," while Gareth laments the inflation of a $75 midtown haircut. The duo announces the formation of ACRONYM (The Ad Tech Coalition to Restore Openness and Normalize Yield Markets) and declares "Working Media" the buzzword of the year. They dive deep into the latest industry debate sparked by Brian O'Kelley, arguing whether OpenRTB is for "day trading" while Agentic AI is for "investing", and review a technical rebuttal from former Chalice engineer Will. Plus, the debut of the Kreative Korner with Marley and Sasha breaking down the "uncanny valley" horror of the AI-generated McDonald's ad, a check-in on Grok's disturbingly specific bikini generation capabilities, and a look at why AI might actually lead to marketing layoffs (per the WSJ). 0:00 Intro & Pontiac Intelligence Shoutout 03:06 Adam’s "Illicit" Massage Parlor Story 07:46 Gareth’s $75 Haircut & Ad Tech Inflation 13:58 The Data Quality Problem (Serge AI & Human Review) 17:50 Announcement: Launching ACRONYM (The Ad Tech Coalition) 20:15 Why "Working Media" is the Buzzword of 2026 22:30 Grok and Trolls: Pete Hegseth in a Bikini 25:43 Kreative Korner: The Creepy AI McDonald's Ad 31:39 Is AI Art? (The "Drawing a Chair" Analogy) 43:59 Post-Mortem: Brian O'Kelley: "OpenRTB is Day Trading" 50:51 Post-Mortem: Will’s Rebuttal: Recommendation Systems vs. Agents 59:43 Q&A: Affiliate Links in Custom GPTs 1:04:13 Prediction Check-In: Amazon vs. The Trade Desk 1:11:44 News: WSJ on AI-Driven Marketing Layoffs 1:17:27 Outro Working Media, So Hot Right Now

Working Media, So Hot Right Now

It is officially 2026, and Ad Tech Ad Talk is back from CES with a massive announcement. In this episode, Gareth Glaser finally unveils Gamera, his new inventory quality company that has officially moved out of stealth and into the funded startup phase. Gareth delivers his "investor spiel," breaking down why Facebook generates $130B with only 25% of the internet's traffic, while the Open Web lags behind. The thesis? It’s not just about audience data; it’s about inventory taxonomy. Gareth explains how Gamera uses code-on-page technology to automate inventory description, replace archaic manual tagging, and verify impressions in real-time. Adam and Gareth also debate the "Agentic" buzzword fatigue coming out of Vegas, review Pubmatic's new "Agentic OS" (is it Hot Sht or Horsesht?), and discuss the existential threat to search traffic as AI reshapes the web. 00:00 - Intro & Music 02:45 - The Gamera Launch: Gareth reveals his new company is funded and ready for prime time. 06:28 - The Investor Spiel: Why Facebook makes 4x the revenue of the Open Web with a quarter of the traffic. 13:00 - The Taxonomy Problem: Why manual ad tagging ("Right Rail 300x250") is broken and how Gamera fixes it. 16:30 - How Gamera Works: The necessity of "Code on Page" for accurate signals. 22:27 - Sponsor: Pontiac Intelligence & The Container Explainer. 23:35 - Business Model: Who pays for Gamera? (Free for pubs, data segments for buyers). 30:30 - The Agentic Framework: Adam asks how Chalice can ping Gamera signals in real-time containers. 35:27 - Scaling to Critical Mass: Why not having Gamera verification should be a red flag. 39:09 - The AppLovin Comparison: Can Programmatic finally grow the pie like AppLovin did? 43:45 - Hot Sh*t or Horsesh*t: Pubmatic's "Agentic OS." 51:40 - Post-Mortem: Are DSPs Dead? Analyzing the OpenX announcement and the shift to "Composable Ad Networks." 58:14 - Post-Mortem: The Death of Search Traffic. How Google shaped the web into clickbait and why AI will kill the "cocktail recipe site" model. 01:05:34 - News: CES & Agentic Buzzwords. Why brands at CES had no idea what "Agentic" meant. 01:08:50 - News: Publicis & LiveRamp. Why even giants with Epsilon need LiveRamp for connectivity. 01:13:40 - Outro: The "Gamera Episode" wrap-up. Gamera the Brave

Gamera the Brave

Happy New Year and welcome to 2026! In the first episode of the year, Adam and Gareth kick things off with their boldest predictions for the future of ad tech. From the rise of the "Ad Tech Singularity" (where DSPs, SSPs, and data companies finally merge) to the inevitable comeback of open web banners (yes, really), the duo covers it all. They debate whether retail media networks are just selling "fancy value-click" inventory, why performance CTV is bringing IP-address attribution "home to roost," and why AI won't make investors rich (but might make you rich). Plus, Gareth explains why Elon's unhinged tweets might actually be good for Grok's credibility, and predicts the end of the "trust era" in inventory quality. It's a jam-packed episode to set the stage for a wild year ahead. 00:00 - Intro & Pontiac Intelligence Shoutout 02:59 - The Joys of Parenting Toddlers (AKA "First Principles of Humanity") 06:53 - Post-Mortem: The Looming Retail Media Scandal 10:04 - Is Retail Media Data Actually Any Good? 15:50 - Elon, Grok, and the Future of Truth on X 24:35 - Adam vs. DigiDay: The Trade Desk Whisper Campaigns 36:58 - Adam's Prediction #1: The Revival of the OLV Market 40:34 - Adam's Prediction #2: New AI-Native Agency Models 44:01 - Adam's Prediction #3: AI "Gravity" & The Valuation Reality Check 46:07 - Adam's Prediction #4: Muscular Behavioral Remedies for Google 47:40 - Gareth's Prediction #1: The Ad Tech Singularity (Unbundling is Over) 54:46 - Gareth's Prediction #2: Performance CTV & The Return of IP Attribution 1:01:17 - Gareth's Prediction #3: The Banner Market Will Grow in 2026 1:04:13 - Gareth's Prediction #4: Amazon Will Not Beat The Trade Desk 1:09:30 - Gareth's Prediction #5: Disappointment with LLM Ad Revenue 1:11:44 - News: Marketing Layoffs Due to AI Pressure 1:17:27 - Outro 2026 Predictions

2026 Predictions

In the final episode of 2025, Adam and Gareth look back at a chaotic year in ad tech and look forward to the "fewer, better pages" of the future. The duo tackles the persistent myths plaguing the industry, from the zombie-like return of domain spoofing (it's solved, guys) to the shady practice of ad stuffing via carousels. Adam rails against the concept of "scale" as a software problem (it's not) and the wasted time of digital media planning, while Gareth makes the case that video placement misdeclaration is the #1 issue we need to kill in 2026. They also debate whether agentic AI is just a fancy way to automate sales houses and if guaranteed deals are obsolete in a programmatic world. Plus, a look at Pinterest's move into CTV, why LiveRail ruined ad tech M&A for a decade, and a special shoutout to the LinkedIn Year-In-Review spam. 0:00 Intro & Pontiac Intelligence Shoutout 02:18 Holiday Party Anxiety & The "Irish Exit" 04:47 The AI Year in Review: Trials & Tribulations 08:23 Did The Trade Desk Actually care about Performance in 2025? 13:12 MYTH BUSTING SEGMENT BEGINS 15:26 Myth #1: Domain Spoofing is Still a Huge Problem 19:45 Myth #2: Resellers & Ad Stuffing (Carousels) 25:14 Myth #3: Video Placement Misdeclaration (In-Stream vs. Out-Stream) 30:33 The Future of Open Web: Fewer, Better Pages 39:40 Myth #4: "It Doesn't Scale" (The First Principles of Audience) 43:40 Myth #5: Privacy Laws Prevent Reach Measurement 45:49 Myth #6: You Need DoubleVerify for Brand Safety 47:48 Myth #7: Digital Media Planning is Essential 50:14 Myth #8: Agentic AI Benefits Advertisers (Where's the Value?) 52:02 Why Guaranteed Deals Don't Make Sense Programmatically 54:58 StinkedIn: The Worst Year-End Wrap-Ups 57:34 AI Phishing Emails Getting Too Good 58:45 Outro & 2026 Preview 5 Buy & Sell Side Myths, BUSTED.

5 Buy & Sell Side Myths, BUSTED.

In this episode of AdTech AdTalk, Adam and Gareth break down the big news of the week: Pinterest acquiring TV Scientific. Is it about CTV tags, or is it really about IP address stuffing to juice attribution? The duo goes deep on the AI wars, debating whether Google’s "stack" strategy will crush open standards, the "vertical integration" lesson from the browser wars, and the suspicious claim that Gemini 3 has no ads (yet). They also tackle the "passive voice" of the Irish exit, the surprising economics of OnlyFans chatbots, and why SaaS investors are panicking about AI. Plus, a look back at the "Vast Arbitrage" era, why LiveRail ruined ad tech acquisitions for a decade, and why nobody can name a single piece of "new knowledge" generated by an LLM. 0:00 Intro 2:12 The "Irish Exit" & Holiday Party Anxiety 04:08 AI Standards vs. The Google Stack 06:40 The Browser Wars & Vertical Integration 11:34 The "Architects of AI" & Godzilla Battles 15:28 The ROI of AI: Application Layer vs. Infrastructure 19:02 AI Won't Make Investors Rich (But Might Make You Rich) 23:11 The Service Industry Boom & The End of SaaS Playbooks 28:43 Pinterest Acquires TV Scientific: Attribution Gaming? 39:08 The "LiveRail Chill" on Ad Tech M&A 44:37 Post-Mortem: Google's "No Ads in Gemini" Claim 50:05 Post-Mortem: Vast Arbitrage & Waterfalls Explained 54:58 Post-Mortem: Can AI Create New Knowledge? 59:43 Q&A: Affiliate Links in Custom GPTs 1:01:23 OnlyFans Chatbots & The Future of Influencer AI 1:02:46 Outro & Hanukkah Wishes Perfectly Honest and Completely Untrue

Perfectly Honest and Completely Untrue

In this episode of AdTech AdTalk, hosts Adam and Gareth are joined by Hillary Slattery, Director of Product Management at IAB Tech Lab and the "designated asshole" charged with shepherding OpenRTB. They dive deep into the granular realities of programmatic advertising, from the importance of OpenRTB's 107-page spec to the contentious debates around video ad placement definitions and the widespread misuse of the buyer UID field. Hillary explains why deal IDs are often a "band-aid" for poor OpenRTB implementation and the challenges of standardizing creative across platforms. The trio also discusses the implications of the Omnicom/IPG merger, the $16 billion Facebook makes from scam ads, and why users actually prefer ad-supported content to paying for it. Chapter Timestamps 0:00 Intro & Pontiac DSP Shoutout 01:22 Happy Birthday to Gareth & Marley! 02:03 Meet Hillary Slattery 06:09 What is OpenRTB? 08:55 The Role of Agentic AI in Ad Tech 16:43 Standardizing Creative with Ad-ID 21:52 The "Designated Asshole" of OpenRTB 26:23 The Debate Over "In-Stream" Video 28:02 The Buyer UID Field Controversy 38:28 Agency Holdcos & The "Bonus Malus" Trap 45:22 Why You Should Use Deals in CTV 50:02 Deal IDs vs. OpenRTB Implementation 55:08 Post-Mortem: "No Such Thing as Server-Side Header Bidding" 58:44 Post-Mortem: Facebook's $16 Billion Scam Ad Problem 1:03:01 News: Trade Desk's Bad Creative Preview 1:04:54 News: Meta Wins Antitrust Case & User Ad Tolerance 1:08:56 News: Omnicom/IPG Merger & The End of Scale 1:12:34 Outro Designated *sshole (ft. Hillary Slattery, IAB Tech Lab)

Designated *sshole (ft. Hillary Slattery, IAB Tech Lab)

It’s a special Thanksgiving episode of AdTech AdTalk! Adam and Gareth are holding down the fort solo, ready to dive into the latest ad tech news, from Google's ongoing antitrust saga to the impending IPG/Omnicom mega-merger. The duo explores the competitive landscape of header bidding management, why it’s such a tough business, and the unique position of Index Exchange’s new containerization project. They also field listener questions about the new "Agentic RTB" standards, how brands like Bayer can leverage them, and the uncomfortable truth about using IP addresses for measurement in CTV. Plus, the hosts debate the effectiveness of price floors, roast a viral LinkedIn post about TV's "passive screen" experience, and analyze a clip of Sergey Brin cutting through Google's infamous bureaucracy. 0:00 Intro & Pontiac Intelligence Shoutout 02:37 The Header Bidding Knife Fight 07:19 Index, Attentive & Resellers 11:34 Index Exchange’s Containerization 14:06 Why It's Called "Agentic RTB" 19:02 Will Big Tech Adopt the Standards? 24:13 Brands & Agentic Workflows 30:37 The Truth About IPs & CTV Measurement 37:22 Why Telcos Failed at Ad Tech 41:26 Why Price Floors Work (Sort Of) 50:12 Post-Mortem: TV’s "Passive Screen" 57:34 Google’s Gemini 3 & Sergey Brin 1:09:27 IPG & Omnicom Merger 1:11:56 Google Antitrust Closing Arguments 1:18:44 Don't Sleep on Google 1:19:15 Outro Let the Bodies Hit the Price Floor

Let the Bodies Hit the Price Floor

"The bid request system is broken. It is dysfunctional. It is cruel." In this exclusive interview, Senator AdTech stops by the show to rail against the "Ad Tech Oligarchy." From the high compute costs of the bidstream to the injustice of the top 1% of companies taking all the revenue, the Senator holds nothing back. He weighs in on the new Agentic standards, the dangers of AI scraping, and his belief that deduplication is a human right. Plus, he has a special financial request for the hosts. This is a special segment from AdTech AdTalk with Adam Heimlich and Gareth Glaser. 0:00 Enter The Senator 0:18 Deduplication is a Human Right 1:04 The Rigged Auction 1:25 Unity in Ad Tech 2:07 Stop the Scraping 2:35 The Senator's Favorite Buzzword 2:54 Asking for Support 3:13 Ad Tech Oligarchy 3:58 Outro The Bid Request System is RIGGED!" | Senator AdTech Speaks Out

The Bid Request System is RIGGED!" | Senator AdTech Speaks Out

In this "old school" episode of AdTech AdTalk, Adam and Gareth fly solo (mostly) to vent about the industry and answer chat questions without the pressure of being nice to a guest. The duo dives deep into the technical weeds of PMP duplication, explaining the bizarre reality where sending the same deal ID five times actually results in more spend due to DSP throttling and QPS caps. They also tackle the controversy surrounding The Trade Desk’s Kokai update, debating whether the loss of trader control is worth the aggressive pacing algorithms. The conversation shifts to the philosophy of measurement, the generational shift in caring about inventory quality, and why coupons are the original performance marketing. Plus, a surprise visit from "Senator AdTech" (who looks and sounds suspiciously like a famous Vermont politician) to rail against the "rigged auction" of the bid request system. Finally, the hosts roast Grok’s sycophantic description of Elon Musk’s physique and play a round of Hot Sh*t or Horsesh*t featuring Quantcast’s new "self-driving" AI claims. 00:00 Intro & Pontiac Shoutout 02:32 Live in Denmark 03:20 The PMP Duplication Hack 10:29 How DSP Sampling Works 19:30 Why Traders Hate Kokai 26:12 The Shift to Quality 30:30 Senator AdTech Skit 35:00 Measurement & Coupons 42:45 Post-Mortem: Fake Metrics 46:40 Grok’s Love for Elon 52:04 Naming the Grok Segment 53:30 Hot Sht or Horsesht: Quantcast 59:00 Outro I Love Grok & Trolls

I Love Grok & Trolls

Adam Heimlich and Gareth Glaser are back for another AdTech AdTalk, this time sitting down with a true ad tech veteran, Keith Gooberman, the CEO of Pontiac DSP and Programmatic Mechanics. Keith takes the hosts through his 18-year career, starting from the publisher side at Conde Nast ($20 CPMs) to the ad network days at Glam Media, and eventually to the agency trading desks. He discusses the "aha" moment of seeing 80-90% margins, which led him to found his own transparent company. The discussion covers the state of the DSP market and what it's like competing with giants like Google and The Trade Desk. Keith explains Pontiac's niche (built without cookies, "thinner" pricing, CTV-first bidder) and the panel debates whether clients actually care about performance. In the second half, the hosts break down the new IAB "Agentic" framework for containerized RTB, a $16 billion fraudulent ad spend problem at Facebook, and analyze the wild stock market ride of Pubmatic in "Hot Shit or Horseshit." 00:00 - AdTech AdTalk Intro 01:11 - Welcome & Guest Introduction 02:04 - Welcoming Keith Gooberman, Pontiac DSP 02:31 - Keith's Start: Conde Nast (2007) 03:59 - Career Path: Glam Media Ad Network 05:28 - Learning Arbitrage at Trading Desks 06:17 - Why He Chose Varik 08:44 - Founding Programmatic Mechanics 09:12 - Do Buyers Actually Care About Performance? 10:49 - Investment vs. Spending: The Agency View 12:15 - The Irrational CMO Request: "Get me on Netflix" 14:52 - Building the Pontiac DSP & Bidder 16:17 - Competing in the DSP Market 17:31 - Pontiac's "No Cookie" Differentiation 18:55 - The DSP Car Analogy 21:15 - Price, Transparency & The Chalice Partnership 24:45 - From "Fewer, Bigger, Better" to Modular Stacks 27:18 - Startup Idea: Creative Quality Management 31:45 - The History of Soft Floors & First Price 35:59 - IAB Agentic Standards 36:29 - The Gap: The "Edge" vs. Insertion Orders 42:38 - NEWS: Adam Explains Agentic RTB 45:26 - Why Is It Called "Agentic"? 47:50 - Why Would Index (SSP) Want This? 54:02 - Pontiac's View on the New Edge 57:25 - Pontiac's AI/MCP Plans 59:51 - Post-Mortem: "Open Web is Dying" 01:02:57 - "Ad Tech Morale is Low" 01:06:15 - Post: MRC Auction Standards & Google Antitrust 01:11:56 - NEWS: $16B in Fraudulent Ads on Facebook 01:17:24 - New Feature: "StinkedIn" 01:24:19 - New Feature: "Hot Shit or Horseshit" 01:24:44 - Pubmatic's Wild Stock Ride 01:25:43 - Gareth's Take: Pubmatic is Hot Shit 01:27:36 - Keith's Take: Pubmatic Found a New Story 01:32:39 - Sign Off & Outro Dolla Dolla Bills (ft. Keith Gooberman, CEO of Pontiac DSP)

Dolla Dolla Bills (ft. Keith Gooberman, CEO of Pontiac DSP)

Adam Heimlich and Gareth Glaser kick off the "Post Mortem" segment with the "deadly serious" LinkedIn breakup of Jeff Green and Brian O'Kelly, complete with a surprisingly high-quality, AI-generated musical tribute. The episode's main guest is Joe Zawadzki of Aperiam Ventures, who shares his "typosphere" investment strategy, how he uses AI as a "product collaborator," and the nuances of AdTech coopetition. The group dives deep into the plumbing of AdTech, breaking down the buy-side and sell-side reasons for the messy proliferation of PMPs and Deal IDs. Finally, the crew tackles "Hot Sh*t or Horsesh*t," giving a unanimous "hot" rating to OpenAI, and analyzes the latest earnings reports from The Trade Desk (TTD), Meta, Google, and Amazon. 0:00 Intro 0:48 Welcome & Banter 1:51 Postmortem: The LinkedIn Breakup 5:16 Guest: Joe Zawatski 6:20 Joe Zawatski on AI & Investing 10:47 Coopetition & Founder Mindset 19:22 The PMP & Deal ID Problem 36:01 Hot Sh*t or Horsesh*t: OpenAI 46:05 Earnings: The Trade Desk 51:56 Earnings: Meta, Google & Amazon 56:25 Gareth's Startup Idea 57:35 Wrap Up There Will Be Blood (ft. Joe Zawadzki, GP, Aperiam Ventures)

There Will Be Blood (ft. Joe Zawadzki, GP, Aperiam Ventures)

In this "Meet the Moment" Halloween episode, hosts Adam Heimlich and Gareth Glaser welcome Stephanie Layser of AWS to unpack the industry-shaking announcement of AWS RTB Fabric. Stephanie explains how "customer obsession" led AWS to build a superstructure for ad tech containerization, designed to slash the massive "egress" costs that have historically plagued real-time bidding. They dive deep into how Fabric’s "modules" will lower the barrier to entry, break down integration queues, and create a more efficient, competitive ecosystem beyond the handful of dominant legacy platforms. The discussion also covers the failure of the 2013 App Nexus marketplace, the future of Prebid Server on Fabric, and how this new infrastructure differs from past attempts like BidSwitch. The show concludes with the debut of a new segment, "Postmortem," analyzing the week's spiciest ad tech social media posts. 0:52 Halloween Intro & Sponsor: Pontiac 1:47 Why We're Talking About "Fabric" 2:32 The "Egress" Cost Problem 4:44 The Rise of Containerization 6:48 Welcome Stephanie Layser (AWS) 7:51 The Origin Story of RTB Fabric 11:14 What Are "Modules"? 13:50 Failed Precedent: App Nexus Marketplace 17:40 The Power of Filtering (for RMNs) 22:48 How Fabric Architecture Works 27:30 Q&A: Examples of Modules 33:51 Hardball: How is this not BidSwitch? 37:12 The Future of Prebid on Fabric 41:54 Amazon Ads (DSP) as Launch Partner 42:55 AWS Clean Rooms vs. AMC 50:12 IAB Containerization Standard? 51:38 New Segment: "Postmortem" 51:58 Post 1: "Is RTB Dying?" 57:29 Post 2: Spicy Take on Gartner 1:00:40 Post 3: Who Created Bid Duplication? Meet the Moment (ft.Stephanie Layser, AWS)

Meet the Moment (ft.Stephanie Layser, AWS)

How do you keep a 20-year-old ad tech company on the cutting edge? You rewrite every single line of code. In this episode, Adam Heimlich and Gareth Glaser are joined by special guest Andrew Casale, founder and CEO of Index Exchange, for a deep dive into the past, present, and future of programmatic infrastructure. Andrew shares the story of starting his company in high school and the massive "bet-the-company" decision to re-architect the entire Index platform in 2020. He explains how moving from a monolith to a microservices architecture cut compute costs in half and enabled the platform to handle massive "live" event spikes in microseconds. The crew then tackles the industry's hottest (and most controversial) buzzword: the "agentic future." Andrew and Gareth break down why they believe this new vision is a massive step backward—arguing it's just "bundle trading" that abandons the hard-won gains of real-time, impression-level decisioning. 00:00 Intro 01:01 Sponsor Shout-out: Pontiac Intelligence 01:33 Welcoming Guest Andrew Casale, CEO of Index Exchange 02:22 The Longevity of Index: Starting in High School 03:33 Why Ad Tech? The "Economic Engine" of the Internet 05:27 What Are the Core Innovations in Ad Tech History? 07:18 Gareth: Ad Tech Fundamentals Haven't Changed (It's Still a Placeholder) 09:49 Andrew: Why Index Rewrote Every Line of Code in 2020 12:18 The Bet: Moving from Monolith to Microservices (Golang) 14:38 How Re-Architecting Enables "Live" Ad Spikes (World Series) 17:17 Innovation: AI-Based Creative & Making TV Approachable for SMBs 20:47 The Rise of Containerization (Amazon AWS Fabric) 22:04 Attacking the "Cost of the Cloud" in Ad Tech 25:19 Debate: The "Agentic Future" (Are Agents Just "Bundle Traders"?) 29:33 Andrew's Case Against Agents: Standards Must Follow Proof 31:52 Agents vs. Real-Time Decisioning (A Step Backwards?) 33:02 Agents Are at an "Intern Level" & "Human in the Loop" Doesn't Scale 35:58 The GAM Problem: Ad Servers Can't Handle Millions of Line Items 39:44 Gareth: RTB Was Built to Replace This Manual Process 42:18 The Buy-Side vs. Sell-Side Tension (Supply Path Optimization) 43:09 Andrew on SPO: "Prove It" with A/B Tests 45:48 Adding Value (Like Data) Without Adding Fees 47:50 Goal: Get More Ad Spend into "Working Media" 48:32 News: The AppLovin SEC Investigation & "Co-Reg" Installs 54:04 Q&A: How Do You Reverse Bid Duplication? 55:03 Gareth & Adam: Use Sell-Side Decisioning (Chalice) 59:17 Q&A: Are Direct Buys Better for Publishers? 59:53 Gareth: No, It's "Wistful" for Selling "Garbage for 20 Bucks" 1:01:42 Wrap Up & Halloween Costumes The Agents Are Inside the House

The Agents Are Inside the House

In this episode of AdTech AdTalk, hosts Adam Heimlich and Gareth Glaser are joined by the legendary Jonah Goodhart, founder and CEO of Mobian and former founder of Moat. Jonah shares his perspective on the ad tech industry, the power of storytelling, and why he believes the people in advertising are fundamentally good. 0:36 Welcome Jonah Goodhart, Founder & CEO of Mobian 2:25 Why People Love the Ad Industry 5:05 AI, Optimization, and the Limits of Human Storytelling 7:20 "Save the Cat": How AI Unearths Subconscious Storytelling Formulas 10:48 The Human Element: What AI Can't Replicate 13:35 The "Chinese Room" Analogy for AI Comprehension 14:44 Mimetic Desire: Are Humans Just Imitators? 16:55 Jonah on Starting Moat While Raising Four Kids Under Five 20:33 A Healthy Perspective on Competition in Ad Tech 26:21 Jonah’s Top Advice for Selling to Marketers: "Go Have 800 Meetings" 31:56 Why Publishers Are Open to New Narratives Like "Agentic" 35:28 How Mobian Solves Content Demonetization for Publishers and Advertisers 41:32 Deconstructing the Hype Around "Agentic Media" 42:42 Jonah Defines Agentic AI: Autonomous Reasoning with a Feedback Loop 49:44 Agentic Systems as the End of Logging Into Multiple Platforms 55:27 AI's Future: A Technological Shift as Big as Mobile 59:46 The Key to Success: Solving Tactical, Real-World Business Problems Mimetic Desire (ft. Jonah Goodhart, CEO of Mobian)

Mimetic Desire (ft. Jonah Goodhart, CEO of Mobian)

In a can't-miss episode of AdTech AdTalk, hosts Adam Heimlich and Gareth Glaser are joined by a very special guest: Jeff Green, the founder and CEO of The Trade Desk (TTD). Jeff dives deep into the strategy behind The Trade Desk's recent moves, explaining why the ad tech ecosystem has been dominated by a strategy to "Duplicate, Obfuscate, and Sometimes Lie." He provides a masterclass on the history of ad tech, from Google's DFP monopoly and the advent of header bidding to the current state of the industry. This discussion is essential viewing for anyone in digital advertising, as Jeff unpacks the motivation behind OpenAds, The Trade Desk's vision for a fair and efficient open internet, and how it aims to create a healthier ecosystem for publishers, advertisers, and agencies alike. 0:00 Intro & Welcoming Jeff Green 2:11 Why Jeff Green Chose AdTech AdTalk 3:30 What is OpenAds? 4:15 The History of Google's Ad Monopoly (DFP) 8:07 The "Duplicate, Obfuscate, and Sometimes Lie" Strategy 10:14 Google's Tactics & The Pre-bid Spec Change 12:11 The Goal of OpenAds: A Fair Auction for a Healthier Ecosystem 14:24 Exchange vs. SSP: Flipping Houses vs. Representing Publishers 20:22 Why The Trade Desk is Acting Alone 24:08 Winning Over Skeptical Publishers 27:18 Fifth Avenue vs. Canal Street: Rebalancing the Open Internet 28:42 Conspiracy Theory: Is The Trade Desk the New Google? 32:59 Can Competitors Bid into OpenAds? 38:34 OpenPath: The "Stalking Horse" & "Canary in the Coal Mine" Explained 40:07 How The Trade Desk Wins in a Fair Ecosystem 42:10 The Future of Competition & Collaboration (TTD & Chalice) 45:07 OpenAds for Publishers: What Does the End State Look Like? 47:23 Audience Q&A Begins 47:47 How Will TTD Compete on Price with Amazon DSP? 50:25 Will DSPs Integrate with LLMs like OpenAI? 52:30 Agency Transparency, Rebates, and the Future 58:10 Jeff Green's Final Thoughts: The Future of the Open Internet is Efficiency 1:00:57 The Path Forward: Better Information & More Competition #AdTech #TheTradeDesk #JeffGreen #DigitalAdvertising #Programmatic #OpenInternet #Marketing #Advertising #TTD Duplicate, Obfuscate, and Sometimes Lie (ft. Jeff Green, CEO of TTD)

Duplicate, Obfuscate, and Sometimes Lie (ft. Jeff Green, CEO of TTD)

Welcome to the AdTech AdTalk show! This week, hosts Adam Heimlich and Gareth Glaser dive into the "Peak of Bullsh*t" in the ad tech world. The episode kicks off with a deep dive into the ongoing Google antitrust trial, focusing on the controversial testimony from a WikiHow publisher. Is she pro-Google, or just exhausted by the constant uncertainty and potential disruption to her business? Adam and Gareth break down the technical implications of a potential Google divestiture, debating whether forcing all demand through Prebid would simplify or complicate life for publishers. The conversation then shifts to the explosive news that kept Gareth up all night: The Trade Desk's decision to fork Prebid. The hosts analyze the breakdown in communication, the "war on yield" fears from publishers, and the deep-seated cynicism preventing the industry from moving forward. They explore TTD's new PubDesk tool and question whether more transparency will actually lead to more money for publishers or if it's just another way for a middleman to capture margin. Packed with insights on industry politics, technical details, and a healthy dose of rage against the machine, this episode tackles the fundamental question: can the open web be saved, or are we stuck in a cycle of self-interest and over-complication? Tune in for a fiery discussion and get ready for next week's special episode with Jeff Green of The Trade Desk! 0:00 - Intro 0:35 - Welcome & DataBricks Sponsor Shoutout 2:19 - Google Antitrust Trial: The Publisher's Perspective 3:46 - Pro-Google or Just Tired of Constant Change? 5:25 - Technicals of a Google Divestiture: GAM, AdSense & Prebid 8:02 - Is a Better Ecosystem Worth the Short-Term Pain? 9:46 - Is Google's Ad Stack "Too Big to Fail"? 11:11 - Peak of Bullsh*t: Google's First-Party Data Claims 12:48 - DOJ Politics and Google's Settlement with Trump 14:48 - The Trade Desk vs. Prebid: Is Prebid Poorly Governed? 16:51 - A Brief History of Prebid's Origins 22:13 - Q&A: TTD's Transaction ID vs. Raptive's 25:21 - What is The Trade Desk's New "PubDesk" Tool? 26:23 - Why Are Publishers Mad at The Trade Desk? 28:54 - Industry Cynicism & The Breakdown in Communication 31:54 - Q&A: PubDesk Availability 34:17 - Does More Information Lead to More Revenue? 37:45 - Revisiting the Question: Is the Open Web Beyond Saving? 39:12 - Will The Trade Desk's Prebid Fork Actually Work? 43:52 - Adam's Rage Against "Middleman Overcompromises" 46:07 - AdTech News Roundup 46:12 - Meta to Use Chatbot Conversations for Ad Targeting 51:44 - Podcast Ad Spend to Surpass $3 Billion in 2025 53:20 - Wrap-up & Teaser for Next Week with Jeff Green Peak of Bullsh*t

Peak of Bullsh*t

0:00 Intro & Adam's Stressful Week 6:40 Special Guest Introduction: Gio Sollazzo of Aidem Ads 10:50 Aidem Ads Platform Deep Dive 27:00 Gareth's ID-Bridging Conspiracy Theory 37:00 Google Remedies Trial 48:00 Headlines of the Week 48:30 IAS Acquired by PE Firm Novacap for $1.9B 54:30 OpenAI Looks to Build In-House Ad Infrastructure The Math Isn't Mathing

The Math Isn't Mathing

YEAH YOU KNOW ME! 0:00 Intro and Gareth "Old Yellering" TIDs 12:30 The Future of Ad Tech and Rising Above the "Doom and Gloom" 32:00 Agent-Based Content 37:00 MCP's 40:40 AI + OOH Advertising 45:45 Headlines of the Week! 46:20 Rembrand x Spaceback Merger 49:15 Magnite Acquires streamr.ai 53:30 TTD Sunsets Periodic Table UI You Down With MCP?

You Down With MCP?

Gareth hosts former Goodway Group CEO, Jay Friedman. 1:40 – Introducing Jay – the outcomes OG 6:20 – Demand creation, harvesting, and measurement 16:30 – What’s real? 25:26 – How does AI connect strategy and execution? 43:26 - TID Drama reality check Police the Numerator

Police the Numerator

0:00 Special Guest Intro: Jana Meron of Lioness 4:00 Jana's Google Experience, "The Trial", and Everything in Between 15:10 Jana's Business Insider Tenure 23:45 Are Advertisers Really the Devil? 29:00 The Influencer Effect 37:00 Fees, Fees, Fees 40:00 Lioness: Startup Progress 47:00 The Philosophies of Hiring the Right Seller Vendors Lie and Buyers are Stupid

Vendors Lie and Buyers are Stupid

Featuring a special surprise appearance by Sincera founder Mike O'Sullivan. The boys talk markets, markups, and potential regulation. 0:00 Intro & Adam’s 2nd Half Review of Yield by Ari Paparo 6:00 Special Guest Intro: Mike O’Sullivan of Sincera / The Trade Desk 12:00 SSP Margins, Transparency, and the Publisher Perspective 20:00 Open Path, Market Competition, and Publisher Fears 29:00 Transaction IDs & Tackling Request Duplication 39:00 Bid Jamming, Quality Signals, and Industry Dysfunction 50:00 Regulation, DOJ, and the Future of Ad Tech Mike Net Fish Tech

Mike Net Fish Tech

0:00 Intro, "Yield" by Ari Paparo, and Gareth's Dramatic Morning 6:00 Special Guest Reveal: Justin Wohl of Aditude 17:00 Open Path Deep Dive 29:00 ID-Bridging and Trust Issues in the Ad Tech Ecosystem 39:00 Gareth Breaks Down the Latest Jounce Report 42:00 Contextualization: Application or Infrastructure? 55:00 Vibe Coding and Justin's Pod Feedback Spontaneous Threesome (ft. Justin Wohl)

Spontaneous Threesome (ft. Justin Wohl)

0:00 Intro, Gareth's Viral Tweet, and "Jeans Parties" 5:00 Prebid Server, Snowflake, and Modularization 10:00 Gareth's Fundraising and Pitch Updates 18:00 Publishers and Their 1P Data 26:50 "Post-Taxonomy World" 35:00 Open Web vs the Big Guys 42:00 Viewability's Advantages and Disadvantages 45:00 Quality Companies Hate Pubs? 48:00 Resellers: What to Look Out For Eat the Gerontocracy

Eat the Gerontocracy

Logs don't lie: Adam and Gareth talk middlemen, markets, and clarity. 0:00 – Intro 1:40 – The Möbius Strip of Adtech 4:30 – Dynamic Rev Shares 18:00 – Publishers, Buyers & Hidden Fees 36:00 – Why Log Files Matter 50:00 – Throttling Mysteries Release the (Log) Files!

Release the (Log) Files!

01:00 – What Is AI, Really? Data, Predictions & Modeling 04:40 – OpenAI, Feedback Loops, and Magic Tricks 09:10 – Comprehension vs Prediction in LLMs 12:30 – Profitability in AI: OpenAI's Next Business Model 17:00 – AdTech’s Infrastructure Problem 22:42 – Micropayments & Pubs 27:00 – On-Prem vs. Cloud vs. Bare Metal 43:00 – Data Access, DSPs, and Log Transparency 46:00 – Should Google Be Broken Up Like Standard Oil? 50:30 – Data Markets, Commoditization & Panel Power Fragmolidation Sensation

Fragmolidation Sensation

In this 4th of July edition of AdTech Ad Talk, Adam and Gareth go deep on everything from privacy theater to clickbait economics. 01:36 – GDPR, Cookies & Privacy Theater 19:43 – The Click Debate: Value or Junk? 33:40 – AI Data Fortresses & Feudal AdTech 46:00 – Attribution Hell: Omniture vs Reality 54:00 – What Clicks Could Be (If We Tried) The Yanks Are At It Again

The Yanks Are At It Again

This week we get into sell-side decisioning: how it works, why it matters, and where it’s headed. We also dig into why Chalice isn’t a DSP, RMN value, and Gamera's upcoming seed round. 0:00 - Intro 1:59 - Intro to Decisioning 9:50 Why Isn’t Chalice a DSP? 14:40 DSP Limits and Rigidity 19:50 Curation, CPAs, and the History of Sell-Side Decisioning 28:00 - What Seed Data Does and Scoring 32:00 - Identity-Based CPA Targeting 35:39 - Platform Spend Pacing 39:22 Taboola v. OpenRTB 42:00 - Retail Media 50:45 - Gamera’s Upcoming Seed Round 58:17 - Actionable Data and Cardinality Never Get High on Your Own Supply

Never Get High on Your Own Supply

0:00 - Intro and Cannes Check-In 4:40 - Buy Side vs. Sell Side Trust Gap 9:18 - Publishers Still Don’t Believe in Performance-Based Buying 17:56 - MIQ’s New AI Tool 22:42 - WPP vs. Publicis 37:00 - Floor Prices, Bid Shading, and Gaming Gaming, Shading, France, and Floors

Gaming, Shading, France, and Floors

This week we talk modular mayhem, from throttling issues to the benefits of containerized RTB. Plus: unpacking a fresh scandal, and a temp check on Cannes. Full Throttle

Full Throttle

Hosted by two ad industry renegades, this is where the buy side and sell side drop the jargon and get real. Come with what you always wanted to know about the other side, stay to see what happens when innovators come together. Please Audit Me

Please Audit Me

Fuzzy metrics, existential vibes, and the scoop on Gamera. 00:00 Intro 01:41 Backlash 04:30 Attention Metrics 10:45 Curation Explained 26:00 – Alt IDs, Brain Rot, and PMax Everybody Loves Attention

Everybody Loves Attention

Sketchy models, job security in the rise of agentic advertising, and the death of a platform. 1:46 RIP AppNexus 8:04 Cleaner Pipes 21:00 DV vs. Adalytics 26:12 Agentic AI 51:00 The Future of Media Buyers Trust Issues

Trust Issues

00:00 - Global Kickoff & The Real Ad Tech Talk 00:47 - DOJ vs Google 07:01 - Containerized RTB 18:40 - Why Buyers Struggle & CMO Power Gaps 32:00 - Direct DSP Connections Heroes, Hacks & the Future of RTB

Heroes, Hacks & the Future of RTB

Originally streamed live on May 2, 2025 on our previous channel. Reposted here for our new community! The Great Identity Heist

The Great Identity Heist

Originally streamed live on April 25, 2025 on our previous channel. Reposted here for our new community! Adam and Gareth take on the latest in Ad Tech news in our first episode! 00:00 Welcome to Ad Talk + Why We Made This Show 01:35 Offline Conversions & the DSP Disconnect 10:02 Floors, Signals & Algorithm Games 24:00 Inside Google’s Grip on Ad Servers 45:00 Can Ad Tech Innovate Without VC? Market Power

Market Power