πͺ W41 - πͺ Bye bye 3rd party cookie and what to expect next
The downfall of the 3rd party cookie and the advertising future, Think about your digital consumption & The top 10 tech trends that will shape the coming decade
Hi,
Today marks already the 10th edition of your favourite Wednesday bite, with again some bite-sized knowledge to make you popular at dinner conversations and bar chats.
In this edition:
The downfall of the 3rd party cookie and the advertising future
Think about your digital consumption
The top 10 tech trends that will shape the coming decade
The new Batman trailer
And some additional π Crumbs & π§ Brain game
There is a bit more crunch (time) to the 3rd party cookie article, but as this links to my professional experience I wanted to spend a bit more details on it (as well as that it was a lengthy article, to begin with).
Happy reading.
Regards,
Steven
Btw, building an audience for this newsletter requires effort, so by sharing this newsletter you can enlighten others and help me grow. Thanks in advance for your help.
β Grab a coffee, take a bite πͺ
6 min to chew through this one.
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β πͺ The downfall of the 3rd party cookie and the advertising future
When you visit your favourite website, that website will store a cookie with information in your browser with for example country/language preference. This cookie is called a 1st party cookie.
This website may have a partnership with another company and it can be useful for both to share audiences/customers, which would be done through 2nd party cookies.
But then you have those cookies that are set by a company other than the website youβre visiting, which are 3rd party cookies. Take the following example: you browsed your favourite running shoe brand and when visiting another site, you see an ad for those running shoes. Ok, maybe not running shoes, but you get the idea. This is an example of 3rd party cookies and how they are used, showing ads based on browsing behaviour
These 3rd party cookies helped fuel the 455.3 billion digital advertising industry.
The biggest concern with all of this is privacy. Data brokers collect (cookie) data and sell it to marketers so they have a great amount of information on us. Take for example Cambridge Analytica that collected Facebook user information through a simple quiz and used the data to send targeted ads.
So people have become uneasy about their privacy, what is tracked and how the information is used. General Data Protection Regulation, or GDPR and the California Consumer Privacy Act, or CCPA have come to life to protect the rights of individuals and Firefox and Safari by default already block 3rd party cookies.
Also, Google has announced in 2020 to stop supporting 3rd party cookies in Chrome the most popular browser today (+65%), to gain βtrustβ.
FLoC and UID 2.0
Of course, as Google gets its biggest profits from advertising, they are working on a replacement, called βFederated Learning of Cohorts,β or FLoC. The idea is to segment users by interest groups or cohorts based on browsing history. This technique would be more privacy-friendly as it would target groups of people and not individual ones.
But even this system is not without flaws, as advertisers could use FLoCs to enrich their own data to target users. So Google might go for topics instead of cohorts, that are much broader, like βbeauty and fitnessβ.
One of the biggest ad tech firms, The Trade Desk is looking into Unified ID 2.0. which would be based on an βanonymized versionβ of a users email address, that canβt be traced back to the person.
Some publishers have shown interest in UID 2.0, but others want to steer away from it as they donβt want to jeopardize the relationship they have with their customers.
Other alternatives
Contextual advertising can be on the rise again, matching an ad with the websiteβs content. Like if you were browsing a travel blog, you would see ads for walking shoes.
1st party cookies will also become extremely important, as they provide information received with user consent. As such, publishers know their audience and their preferences and can connect this with advertisers directly cutting out the middlemen.
Creative uprise
The removal of the 3rd party cookie can be a good thing for copywriters and art directors, as they need to be creative to capture attention.
Itβs not just about serving an ad to the right person at the right time but making sure the content within that ad is compelling enough to catch someoneβs eye.
Closing
At the end of the day, the loss of third-party cookies is supposed to make for a more privacy-oriented web, but itβs just one step of many needed.
Source: Morning brew - 20 min read
β‘ Think about your digital consumption
Think about what you consume online, as it will define you.
βWhen you choose what media to consume, you are choosing your future thoughts and perspectives and opinions. And if you choose poorly, you will think poorly.β
Watching television is relatively easy and it just requires you to sit passively and consume what is shown in front of you. And generally speaking, the content of it was not designed to inform you, but rather to give you a release of dopamine (as I talked about last week) keeping you watching for hours.
See also π π§ Digital media turned us into dopamine addicts
Besides the fake dopamine release, while binging, it generally will make you unhappier, unhealthier, and more paranoid about the world. Children who watch too much television are likely to perform worse cognitively and can experience behavioural and social problems.
Reading, on the other hand, has all sorts of cognitive benefits, requires mental effort and is interactive as you read, interpret and react to the written words.
Itβs not to say you should be reading all the time, but be mindful about what you consume online. Some platforms will provide you with a quick release and try to grab and hold your attention for as long as possible while others will challenge you with powerful new concepts or invoke active thinking.
On the internet you have access to everything, so choose your Attention diet wisely.
βIf you eat crap for long enough, your body becomesβ¦ well, kinda crappy.β
When you decide what to consume, you are choosing your future thoughts and perspectives and opinions. And if you choose poorly, you will think poorly.
Source: Mark Manson - 4 min read
β’ The top 10 tech trends that will shape the coming decade
McKinesy, a prestigious consulting firm advising corporations, governments, and other organizations have made predictions about the 10 tech trends that will grow and dominate in the next decade.
1. Process automation and virtualization
Next-level process automation and virtualization will automate half of all existing work activities.
2. The future of connectivity
Faster digital connections, powered by 5G and the IoT will drive the digitization of manufacturing (through wireless control of mobile tools, machines and robots) to decentralized energy delivery and remote patient monitoring.
3. Distributed infrastructure
Moving to hybrid-cloud or multi-cloud platforms will allow faster and broader data accessibility.
βThis trend will help companies boost their speed and agility, reduce complexity, save costs and strengthen their cybersecurity defenses.β
4. Next-generation computing
Will boost next-gen AI to fully autonomous vehicles and will help find answers to problems that have bedevilled science and society for years.
5. Applied Artificial Intelligence (AI)
Matured AI will be applied to further develop tech-based tools, such as training machines to recognize patterns
By 2024, McKinsey estimates AI-generated speech will be behind more than 50% of peopleβs interactions with computers.
6. Future of programming
Moving to Software 2.0, where neural networks and machine learning write code and create new software.
βThis trend makes possible the rapid scaling and diffusion of new data-rich, AI-driven applications.β
7. Trust architecture
A step towards safer infrastructure powered by Blockchain will reduce the cost of complying with security regulations, lower the operating and capital expenditures associated with cybersecurity, and enable more cost-efficient transactions, for instance, between buyers and sellers.
For more on Blockchain usage, see my earlier articles:
π πΌοΈ Understanding NFTs and how they will shape the future
π βΏ Bitcoin uses more energy than Finland
8. Bio Revolution
The bio revolution promises the development of gene-therapies, hyper-personalized medicines and genetics-based guidance on food and exercise.
9. Next-generation materials
Developments in materials science have the potential to transform multiple market sectors, including pharma, energy, transportation, health, semiconductors and manufacturing.
βNext-generation materials with significantly higher efficiency in many as-yet-untouched application areas may well change industry economics and reconfigure companies within them.β
10. Future of clean technologies
Renewable energy, cleaner/greener transport, energy-efficient buildings and sustainable water consumption are at the heart of the clean-tech trend.
The estimated effects of these trends in 2050
Source: World Economic Forum - 6 min read
π Crumbs
Amazon copied products and rigged search results to promote its own brands
Norway to hit 100 per cent electric vehicle sales early next year
Solar panels on half the worldβs roofs could meet its entire electricity demand
Israel a step closer to commercial drones with latest tests
Apple Set to Cut iPhone Production Goals Due to Chip Crunch
Out-of-Practice Airline Pilots Are Making Errors Back in the Air
Solar-powered aircraft flown for nearly three weeks without landing
Amazon will allow many employees to work remotely, indefinitely
If youβre into superheroes, the trailer for the new Batman was just released.
π§ Brain game
On the note of digital consumption, do you know how much of the data that is being used by mobile is used for video streaming?
Answer: 49% - where out of this 49% almost half (48%) if used for Youtube.
Questions? Feedback? Leave a comment π
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