Here's a tweet by Josh Wolfe that caught my attention this morning:
Facebook & Google are the new advertising gatekeepers.
If you're a small business and want to advertise, you can pretty much bypass all middlemen and do everything through Facebook & Google. They'll help you setup your owned channels, develop your creative, refine your targeting, produce dashboards and will handle all the payment.
If you're a big brand, it's still a bit messy to do it all by yourself but it is becoming a thing. We know that. But the concrete effects on the market are not necessarily visible.
Some hedge funds are not just talking about it, but are committed to profit from future struggling advertising companies competing with the two giants.