Explore the past, present and future of Internet companies.
1. Role Relationship of Internet AdvertisingIn Internet advertising, there are three important roles:• Advertiser: The company that pays you to see the ad• User: You•Media: Communication channels such as leaflets, radio, magazines, public booths, newspapers, television and the Internet.The relationship between these three is a game, which sounds very high-end. The main reason for studying game theory is for the benefit of you, me and everyone else. The details are as follows:•Advertisers vs users:Advertisers have the need to advertise in order to promote their brands, quietly plant a seed in the minds of users, and loudly shout "Choose me, choose me, choose me" when users choose similar products. Users have a need to understand brands so that they can choose the one that suits them best when selecting products.• Advertisers vs Media:In order to spread their advertisements more widely, advertisers need to choose the appropriate media, such as printing flyers or broadcasting on TV. Which one has the highest return on investment? The media have a need to publish advertisements because they can generate income by renting out advertising space to support their families and those lovely programmers .•User vs Medium:In order to realize the value of life, we users all have the need to collect information and understand the outside world. The ways are nothing more than reading books, newspapers, watching TV and surfing the Internet. These are basic needs and have nothing to do with sentimentality. The media has the need to attract users, because when users come, their attention comes, and advertisers will follow.2. Internet Advertising VS Traditional AdvertisingSome people may ask, what is the difference between Internet advertising and ordinary advertising?Let us explain the biggest difference: the effects of advertising on the Internet are measurable, and advertisers no longer have to worry about spending money unclearly! Ever since advertising came onto the Internet, the look of advertising has taken on a whole new look. The reason for the huge changes in the industry is that the effectiveness of Internet advertising can be measured.For example, the “Are you full?” flyer. Advertisers only know how many flyers were printed, who distributed them, and where they were distributed, but they have no way of knowing who received the flyer, whether the people who received it read it, and whether the people who read it bought it. For advertisers, this is a bit unclear as they spend money but don’t know who bought it. The psychological shadow area of advertisers increases instantly. But we have to spend the money. This is the biggest problem facing traditional advertising, that is, the advertising effect cannot be measured.The benefits of Internet advertising go far beyond this. Let’s talk about its history and prospects.Internet advertising: hit wherever you point!As mentioned earlier, a big advantage of Internet advertising over traditional advertising is that the advertising effect can be measured. For advertisers, such changes mean that their money is finally well spent, which is great! The advertiser looked at the ecstatic media website nearby and said, "The effect is visible. If my ads can be displayed in front of different groups of people, it will be more accurate. Not only can the effect be measured, but it can also be greatly improved." After hearing this, the media website replied: "You are asking for a lot, but it's a good request and I can meet it." As a result, the improvement work was carried out in full swing.The altar of trafficAs mentioned earlier, advertisers want to target ads to specific groups of people. What it means is that the gender of the users visiting the website that month is half male and half female. This is simply a difference in the population and a population division.In the traditional advertising scenario, advertisers’ advertising methods are relatively rough:
For magazine advertising, I buy the covers of several issues, the bigger the better;
For newspaper advertising, I buy several issues, preferably in color;
For TV commercials, I buy a few airings during prime time, preferably the countdown before the Spring Festival Gala.
For display board advertising, I can buy a display space for one month, the LED on Pangu Plaza will do.
In the context of Internet advertising, this is also the way to buy. Aren’t the advertising spaces on a website similar to display boards? Can’t I just buy them on a monthly or quarterly basis? Yes, this is exactly what was done before user demographics emerged. Now, many advertisements and media also do this. But to be honest, with the segmentation of user groups, the traditional advertising industry will soon blossom brilliantly on the Internet.Continuing from what was said before, after seeing this pie chart, the media website fell into deep thought. Since the visiting users are half male and half female, why should I show the advertisement of women's skin care products to male users on the homepage? These grown men don’t understand things like lotions, emulsions, and creams. Even if you plant a seed in their minds, it won’t work until they buy women’s skin care products! But what should I do since I have already signed a contract with the skin care products company? I signed it on a monthly basis and it would be so bad to breach the contract. On second thought, advertisers care about the target population . As a female skin care brand, there are basically no expectations for male users. In this case, we no longer contract advertising space based on time, but rather based on population groups. I can ensure that all female users can see the advertisement for this skin care product, isn’t that enough? Similarly, for those male users, I can place advertisements for razors. Anyway, female users don’t understand the use of full fit and full body washing.In this case, can't I use time-division multiplexing on an ad space on my website and run two ads at the same time? I can charge more money, and I feel a little excited just thinking about it! But would advertisers be willing to do this? If I give him a 30% discount, he will definitely agree. All the users I want to display my ads to will be able to see them, and the advertising costs will also be reduced. Isn't this the best of both worlds? As a result, the settlement form of Internet advertising has changed from buying display time to buying display users, which is called buying traffic in jargon. Traffic, as a representation of user attention, has ascended to the altar of the Internet with the support of advertisers and media websites.Speaking of this, it’s just the beginning. This is only the most entry-level advertising form in the Internet advertising industry. Let’s take a look at some black technology. Take your time.3. Computational AdvertisingExplain computational advertising in one sentence: black technology that can show the right ads to the right people.Computational advertising is essentially just a form of advertising in the Internet environment, and its commercial attributes have never changed. The reason why computational advertising is important is that Internet technology and user data make it possible to measure the effectiveness of advertising, which in turn can guide the optimization of each aspect of advertising campaigns, which is of great interest to capital. Since computational advertising is still advertising, there is naturally a game of interests between advertisers, media, and users. In this chapter, we will introduce four business models of computational advertising based on the three-party game, and gain a preliminary understanding of the role of computing in it while feeling the power of capital.•Contract Advertising1. From "Ad Space Contract" to "Impression Volume Contract"Explain the two types of contracts in one sentence: the former is flood irrigation, and the latter is drip irrigation.The symbol of the evolution of Internet advertising to computational advertising is the pie chart that appeared in the previous article. Before the pie chart appeared, the contract between advertisers and media websites was an advertising space contract, that is, the advertising space was contracted by time and settled by the contracted time (CPT, Cost Per Time). Under an advertising space contract, the advertiser's investment is the rental of the advertising space, and the income is the display opportunity during the contract period; the media website's investment is the cost of building and maintaining the website, and the income is the fixed advertising space rental. In this comparison, media websites have a ceiling on their revenue, so they have the motivation to increase their earnings.Driven by the maximization of profits, media websites have discovered that they can use audience targeting technology, that is, mining log data to label traffic and achieve time-division multiplexing of advertising space based on the gender labels of visiting users. Compared to before the change, advertisers' investment has decreased, while their revenues have remained the same; media websites have invested in calculating R&D costs, and their revenues have increased . In order to ensure the benefits for both parties, it is better to sign a contract with a guaranteed display volume, agree on the price per thousand displays (CPM: Cost Per Million), and multiply it by the total number of displays. If the contracted display volume cannot be completed, the media website will be in breach of contract.In contract advertising with guaranteed CPM, both advertisers and media websites make a lot of money. As leaders of change, media websites naturally cannot sit idle. He realized that the key to reusing ad space lies in the number of pieces that can be cut from the traffic pie. The more pieces there are, the more times it can be reused. Advertisers are actually quite happy too. Just cut it. The smaller the piece, the more I save. So media websites really started to enjoy slicing the pie, mining more information such as age, income, interests and geographic location from the log data. It is not enough to just cut the cake, the cut pieces also need to be combined and pieced together: this piece is a male college student in Beijing aged 18 to 25, who can be sold to a Korean company, which just happened to have recently launched a thousand-yuan phone; that piece is a childless female with an annual income of 150,000 to 200,000 yuan, a clear white-collar worker, and she will be sold to Victoria's Secret.With the support of audience targeting technology, the business model of advertising has changed from CPT to CPM, and contracts that guarantee the effectiveness of display volume have been formed. Advertising has officially entered the era of calculability.2. Online distributionOne sentence to explain online distribution: What should you see? I sucked it .Driven by the quest to maximize revenue, the art and methods of audience targeting have reached their peak. Does the scenario in which media websites hope to achieve unlimited time-division reuse of advertising space through refined tagging really exist? We can eat a piece of cake by biting it, and we can eat a piece of cake by soaking it, but when the cake is cut into pieces and cannot be rolled into a ball, we have to throw it away.Let’s think about a question: how can media websites let users see the ads they should see?If a media website can know in advance whether a user will visit the website the next day, it can prepare the ads to be displayed in advance based on the user's tags and achieve "hit wherever directed". However, ideals are full and reality is skinny. Whether a single user will go online is a random event and cannot be predicted. Therefore, in actual advertising delivery, media websites need to allocate advertisements to users online and dynamically for display at the moment when users visit the website.Driven by the need to maximize revenue, media websites must ensure the display volume of all contracts. Therefore , online allocation is an optimization problem of maximizing the revenue of media websites under the constraint of "ensuring the display volume of all contracts." In order to reasonably solve the online distribution problem, media websites need to predict the traffic visits of each type of user. Only when the number of users reaches a certain scale, the visit rate of the entire group will satisfy a probability distribution, and traffic forecasts will be traceable, thereby guiding advertising delivery . If the label is too detailed, the traffic will be too small to mine the correct visit probability distribution, which will directly affect the online allocation results. This will inevitably lead to the failure to complete the display volume contract, damage the interests of advertisers, and put the win-win situation in crisis. Media websites will certainly have a hard time.3. Non-quantity guaranteed contractsOne sentence to explain non-guaranteed volume contracts : If you can’t win, run away .The role that audience targeting technology plays in optimizing advertising effectiveness is self-evident. Theoretically speaking, the more sophisticated the labels are, the more accurate the identification of user groups will be, and the better the effect of targeted advertising will be. However, under the guaranteed impression volume contract model, the existence of online distribution issues limits the media website's ability to further increase revenue, leaving it in a dilemma. How to keep the game going is what media websites must consider now."For advertisers, all they need is user attention, and they don't care whether it is based on time or traffic. For my media website, since CPM has the pitfall of online distribution, it is better not to jump into it. As long as we can reduce advertisers' costs and ensure advertising effectiveness, we can change to another way of playing." Thinking of this, the media website couldn't help but laugh out loud, "Hehe~"What new strategies will media websites adopt? Let’s take a look at the second business model of computational advertising: bidding advertising.•What is the reason why the old bidding advertising method CPM is no longer viable? Because the tags are too detailed and the traffic is too small, coupled with too many contracts, the media cannot reasonably arrange suitable advertisements for users . Since the problem arises in the distribution of advertisements, why not just not distribute them? Just designate one company. When this small group of people come, they will watch the advertisement, and the problem will be solved. . Is it that simple? Well, it's that simple. There are only two questions left: which one to choose and how to charge.•Which one should I specify?To explain which one it is in one sentence: whoever bids the highest gets it.Media websites have high-quality and accurate traffic. Who do they sell this traffic to? Still driven by the desire to maximize profits, media websites choose to conduct public auctions, and the highest bidder wins. Speaking of auctions, everyone must have heard of it. It is where everyone competes for something, and the one with the highest bid wins.Advertiser A: I want it, I have long legs!Advertiser B: I want it, I have a beautiful face!Advertiser C: I want it, I have big breasts!Advertiser D: I want it, I have money!"Duang~~~", congratulations to advertiser D for winning this round of bidding, let us congratulate him with applause, and the etiquette lady please give him the flowers and POS machine.•How is the fee charged?No matter how the gameplay changes, advertisers' desire to obtain a higher return on investment will not change. In an auction, since the traffic is relatively accurate and there is no need to worry about returns, the only thing advertisers care about is how to reduce costs, so advertisers have the motivation to bid low prices. If the public bidding method is adopted as in the Voice of China, advertisers will know each other's bids and will have the motivation to raise the bid less. Given these two reasons, the choice of auction method and charging method jointly determine the final revenue of the media website.Sealed AuctionSealed auction explained in one sentence : Guess how much I paidSince open outcry auctions give advertisers an incentive to bid less, media websites use closed auctions. In a closed auction, advertisers no longer shout out their bids openly, but instead put their bids in a sealed envelope and hand them over to the media website. Advertisers are unaware of each other's bids. In this way, the price offered by advertisers is their own estimate of the value of the traffic, thus avoiding the phenomenon of under-pricing.The second highest price in a broad senseThe second highest price in a broad sense can be explained in one sentence: You are not allowed to spend money even if you have itIn order to prevent advertisers from paying low prices, media websites use the generalized second price (GSP) method to charge. For example, if advertiser A bids 10 yuan, advertiser B bids 5 yuan, and advertiser C bids 3 yuan, then advertiser A only needs to pay 5 yuan to get the opportunity to display ads on the tag traffic for a period of time. The adoption of the broad second-highest price has significantly increased the cost for advertisers to reach the bottom line, because advertisers also understand that rather than pursuing the lowest price to win an auction, it is more cost-effective to win multiple display opportunities at an appropriate price to increase brand sales.Pay Per ClickOne sentence to explain pay-per-click: " The best watermelon, not sandy, not sweet, and free of charge"Pay per click (CPC: Cost Per Click) refers to the price that an advertiser should pay to the media when an advertisement is clicked once by a user. The income of a media website is the product of the click price and the total number of clicks.After going through the torture of bidding and charging methods, advertisers are getting impatient. We pay you, but have you actually put any advertisements for us? In order to supervise you, we will pay based on the user's clicks, and you will be paid once you click! The media website thought about it and thought it made sense, so they just paid per click, since their traffic label was good anyway.In the combination of sealed auctions, broad second-highest bids and pay-per-click models, advertisers consider more the value that the traffic itself can bring when bidding, rather than excessively pursuing cost savings. The overall revenue of media websites also broke the ceiling and achieved satisfactory results.If the transition from traditional advertising to contract advertising marks the official entry of advertising into the computational advertising era, then the transition from contract advertising to bidding advertising represents that computational advertising has entered a golden age of rapid development. Bidding advertising has quickly become the main model for monetizing Internet traffic.At the same time, we should also note that media websites have led two waves of contract advertising and bidding advertising by relying on the data and technology they have mastered, and their voice in advertising campaigns has become increasingly important. As a sponsoring advertiser, although the advertising revenue is very good, I always feel unhappy because I can only drink soup but not eat meat. “Data and technology, can I do something too?” the advertiser murmured.Will advertisers strike back? Let’s take a look at the third business model of computational advertising: programmatic trading.ProgrammaticInternet advertising has developed to the bidding stage, and the computing structure has been basically established. Media websites are responsible for using audience targeting and other technologies to deeply mine log data and label traffic; advertisers obtain the right to display traffic with tags of interest through bidding, and settle accounts with media websites through CPC. Both sides get what they need and get along harmoniously.However, as advertisers' requirements for optimization effects become more stringent, they hope to do some personalized advertising promotions , such as giving discounts to repeat customers or promoting new products to old users. However, the media cannot process labels such as "repeat customers" and "old users", so they are unable to meet the needs of advertisers, which makes advertisers very dissatisfied. Why can’t it be processed?The data that media websites have include which user clicked on which ad. If a user searches for "SLR camera" on Baidu and clicks on an ad on JD.com, Baidu knows this data.However, after the user clicks on the ad, the web page will jump to the advertiser's page. Whether the user has placed an order is only known by JD.com, not Baidu, because the user is not on Baidu's page at that time.• Supply-side platformExplain SSP in one sentence: "Brother, this is the person you are looking for! Can you show him some color on the homepage?"Because media websites are responsible for providing advertising space in advertising campaigns, they are also called "suppliers". The supply side platform (SSP) here is the younger brother of the media website, an agency that represents the interests of the media website. It is mainly responsible for managing the advertising space of the media website and connecting traffic with the advertising trading platform.•Demand-side platformExplain DSP in one sentence: "This person has bought something from me, I'll give him 10 bucks!"Because advertisers have the need to advertise in advertising activities, they are also called the "demand side". The demand side platform (DSP) here is the younger brother of the advertiser, an agency representing the interests of the advertiser, and is mainly responsible for purchasing traffic for the advertiser and developing related technologies.•Ad ExchangeTo explain ADX in one sentence: "We must grasp both SSP and DSP, and we must do both well."The advertising exchange platform (ADX: Ad Exchange) is an independent third-party advertising exchange platform, which is the "mistress", with multiple SSPs and multiple DSPs connected on both sides. Its main functions are to transmit information and manage bidding, which is similar to the stock trading market.SSP, ADX, and DSP: SSP represents the interests of the media, DSP represents the interests of advertisers, and ADX acts as a third party to match SSP and DSP to reach a deal.• Real-time biddingExplain programmatic trading in one sentence: a grand feast held by advertisers to achieve personalized marketing .Real-Time Bidding (RTB) is a new advertising sales model. Let’s first look at the RTB process:Step 1 A user opens a browser and logs into a media website. The media website found through tag analysis that the user's tag is "ID XXX, male, 20-25 years old, running shoes enthusiast".Step 2 The media website transmits the user’s online browsing and tag information to ADX through SSP, saying “see who wants this person’s advertising opportunity on the homepage”.Step 3 ADX broadcasts the user tag information and ad space information to all connected DSPs, asking "Who wants this display opportunity?"Step 4 DSP1 (representing a certain gram) and DSP2 (representing a certain adidas) simultaneously received the message "Logo XXX, male, 20-25 years old, running shoes enthusiast, the advertising space is the homepage". DSP1 checked the purchase database through the identification and found that this person had bought our company's products. This was in line with our company's goal of promoting new products to old users, so his eyes lit up. DSP2 also checked through the logo and found that this person had never purchased our company's products and was not an old customer. By checking the purchase history data, the two DSPs had a rough idea.Step 5: Start bidding. DSP1 thought that this person was an old user and could meet the needs of our company, so he paid 10 yuan to buy the opportunity to be displayed on the homepage. DSP2 thought that this person was just a potential customer, so he offered 5 yuan to try to get him. So one bids 10 yuan and the other bids 5 yuan, and the bid information is returned to ADX.Step 6 ADX compares the prices and finds that 10 yuan is the highest. It determines that DSP1 has won the bid and says to DSP1: "Congratulations on your successful bid. Please return your ad and 5 yuan." Yes, the charge here is still GSP.Step7 DSP1 was so happy that he quickly gave ADX the advertisement of the latest running shoes and 5 dollars.Step8 ADX receives the running shoe advertisement and $5 and returns it to the SSP.Step9 SSP received the advertisement and 5 dollars and handed it over to the media website.Step 10 The ad is displayed successfully. The user sees the ad before the page is opened. The whole process is completed within 100ms.After an RTB is completed, the media website sends a red envelope to the SSP, the advertiser sends a red envelope to the DSP, and both the DSP and the SSP send red envelopes to the ADX.From the above example, we can see that real-time bidding is used to purchase the ad display opportunity at the moment, and the bid price mainly depends on the degree of match between this display and the advertiser's personalized label. For example, in the above example, the display opportunity at this moment is the advertising space that this person will soon have on the homepage, and the personalized label is "old user". The older the user, the higher the price to pay. In the table below, we list the comparison between real-time bidding and the second advertising model: bidding advertising.By comparison, we can accurately grasp the two characteristics of real-time bidding: real-time and personalization . So what is programmatic buying? I have been talking about this advertising model for a long time but I haven’t mentioned it yet. Programmatic buying means that the entire process of real-time bidding is completed automatically by the program.Programmatic trading is the current era of computational advertising. The figure below is the main products in China's programmatic trading market compiled by RTBChina in July 2015. It is very lively and worth a look. In addition to DSP, SSP and ADX, there are many very important forces, such as data management platforms (DMP: Data Management Platform) and third-party testing agencies, which provide services and support for programmatic trading and ensure the healthy development of this model.We have finally finished talking about the history and the present. Students who have persevered, please give yourselves a round of applause! [Pa pa pa pa pa]. Looking back at history, media websites have a dominant position in contract advertising and bidding advertising, while advertisers have a dominant position in programmatic trading advertising. Advertisers and media websites have always been competing over traffic, but what about the voices of our users? Will the future be ours? Let’s look at the fourth model of computational advertising: native advertising .Native AdvertisingOne sentence explanation of native advertising: Do you know that what you are watching is an advertisement? Do you think what you think is what you think?With the development of advertising, advertisers and media websites are more concerned about how to more fully realize traffic monetization, but ignore the combination of advertising and media content. This can easily cause user disgust and make users feel that their privacy has been leaked.Native advertising aims to unify advertising and media content, which is usually called "content is advertising" . The effect it pursues is that users will involuntarily watch the advertisements when browsing the content. The main forms include information flow advertising , search advertising, and soft-text advertising. Here we take a soft-text advertisement as an example.• A soft articleI wonder if there are any students who have watched "Game of Thrones: A Song of Ice and Fire". If so, then this article "Jon Snow is not dead - the counterattack of the Stark family has begun" will definitely suit your taste. It doesn’t matter if you haven’t seen it, I will explain it briefly. In this drama, everyone is left with a big question, which is "Is the male protagonist dead?" This article completely sorts out the main storyline and proves from various details that "the male protagonist is not dead." Most importantly, after reasonably concluding that the male protagonist is not dead, the following passage follows:When I saw this, my first reaction was, "Oh damn! It turns out to be a soft article, it's bullshit!", but then I felt relieved, and I will always remember this high-quality article provided to me by Sogou and Zhihu. I am afraid I will never forget these two Internet products, and I am looking forward to the new season of "A Song of Ice and Fire" even more. Sometimes I wonder inadvertently, who is the advertiser, Ice or Fire? Or Sogou + Zhihu? If it's the latter, did A Song of Ice and Fire give them money?• Mobile Internet EraWhy is native advertising the future of computational advertising? With the advent of mobile Internet, users are starting to spend more time on mobile devices. What does this mean? Think for three seconds.That’s right! This means that users’ attention has shifted, which means that a large wave of advertisements will be mainly targeted at mobile devices ! You may say, there is no change, I am still using the same Internet, I just switched from a computer to a mobile phone. That’s right, it’s because the screen you are using has become smaller, and ads that were not big enough on a computer can easily cover the entire mobile phone screen and cannot be fully displayed...Imagine the shadow area in the user’s mind at this time. Therefore, how to insert advertisements while ensuring users’ normal reading experience will be the main method of advertising in the future.In addition to the limitations of screen size, the APP-centric ecosystem has also led to a shift in media concepts. In the PC era, websites were the main form of media. Now, every APP is digging deep into a field, commonly known as the "vertical field". Some are dedicated to the fitness field, some are dedicated to the maternal and child field, and some are dedicated to same-sex dating. The users who use these apps are the same group, so they have higher traffic value, which naturally attracts the attention of many advertisers. Of course, there are also self-media such as WeChat public accounts, which rely on high-quality articles to promote themselves and have also been favored by many advertisers. How can you ensure that your APP and official account can retain users? High-quality content is king.The smaller screen size and more diversified media have triggered reflections among advertisers and media. We must ensure that advertisements do not affect the user experience while providing high-quality content . It seems that all roads point to the same direction: content is advertising, allowing users to see advertisements while reading. This is the future of advertising, native advertising.What computational content can be done in native advertising? Let’s talk about the most easy-to-understand thing. How to reasonably insert information about local hotels in a travel diary? This is what native advertising platforms do. Under the native advertising model, media will consider user experience more when placing advertisements. Otherwise, users will uninstall the app and unsubscribe in anger. Without users, advertisers will not come either, which means it will die in silence.IV. ConclusionThis is a mixed era where various advertising models coexist. When we open a portal website, we cannot tell at a glance which is the result of contract advertising and which is the result of bidding advertising, but none of this matters. Being able to recognize the value of data and clarify the relationship between the three parties is the original intention of the blogger to write this blog post.Looking back at the development history of computational advertising, even though it is complicated, at its core, it is the balance achieved after the game between advertisers, media and users. After traditional advertising entered the Internet, driven by the maximization of profits, the media led advertising into the era of contract advertising through audience targeting technology; faced with the contradiction between the mission of refined delivery and online distribution, the media chose the bidding method to push computational advertising into the fast lane of development; under the advertisers' requirements for personalized delivery, real-time bidding came into view and derived more participants in advertising activities; in the tide of mobile Internet, user experience is respected as the starting point of all products, making native advertising an inevitable trend in future advertising.These changes seem to be just right and reasonable, but the blogger personally believes that this is the inevitable result of capital seeking profits: in order to enable the media to earn more advertising fees while ensuring the effectiveness of advertisers, the power of computing is used, which in turn promotes the development of Internet technology.When Internet people were exploring the path of computing, they accidentally discovered the value of data and promoted it. Ultimately, everything stems from data. Advertisers and media outlets make money, but users are the ones who lose money.Free things are the most expensive. When users use Internet services for free, the behavioral records they leave behind are data. Various parties can use this data to portray your personality, your preferences, your income and even everything about you. With these, we can deliver targeted content and carry out precision marketing. Do you think you really like the brand when you buy something? I'm afraid the main reason is that you have seen this brand more often on the Internet. This also reminds us Internet people that while pursuing technological excellence, we must also actively think about the power of capital behind it, because technology is often driven by business rather than technology itself.
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