Meta CMO: How Advertising Works Under the Hood

Ads pay for the internet—and they’re about to change again. a16z General Partner Erik Torenberg, entrepreneur and author Antonio García Martínez, and Meta CMO Alex Schultz dive into growth and performance marketing, privacy myths, retail media, and the AI future of “audience-of-one” advertising—plus Instagram what-ifs, WhatsApp as a super-app, and how Meta’s feed shifted from social graphs to AI-ranked content.   Timecodes: 0:00 Introduction  0:38 Book Inspiration & Positive Perspective on Advertising 4:43 Critiques of Online Advertising & Data Privacy 7:34 The Evolution of Media Business Models 10:12 Content Moderation and Platform Shifts 11:43 Connected vs. Unconnected Content & The Rise of AI 13:34 The Future of AI, Personalization, and Advertising 28:18 Retail Media Networks & First-Party Data 38:18 Alternative Histories: Instagram, Libra, and Industry What-Ifs 46:31 The Impact of AI on Jobs and Company Structure 55:00 The Metaverse, VR, and Future Platforms Resources: Make sure to get Alex’s book here! Follow Alex on X: https://x.com/alexschultz Follow Alex on Facebook: https://www.facebook.com/alexschultz Follow Alex on Threads: https://www.threads.com/@alexorig Follow Antonio on X: https://x.com/antoniogm   Stay Updated:  If you enjoyed this episode, be sure to like, subscribe, and share with your friends! Find a16z on X: https://x.com/a16z Find a16z on LinkedIn: https://www.linkedin.com/company/a16z Listen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYX Listen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711 Follow our host: https://x.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.     Stay Updated: Find a16z on X Find a16z on LinkedIn Listen to the a16z Podcast on Spotify Listen to the a16z Podcast on Apple Podcasts Follow our host: https://twitter.com/eriktorenberg   Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.