The market exists in our minds. Spatial and physical markets are exactly aligned with our brain’s perceptions. If you think small, the market remains small, and if you think big, the market expands. To broaden people’s perceptions, my thoughts must first be large and powerful. When my thoughts collide with those of others, perceptions shift, and markets fluctuate in sync with these new perceptions. That’s why we want to use media to send our messages to the public. It’s also why I need to examine my thoughts carefully before developing markets and understanding them. If I think small, the market also shrinks. Think big and powerful. - Joseph’s “just my thoughts”
Advertising is a unique service business. When limited to the Internet, platform operators gather users and allow them to access the platform for free in exchange for viewing advertisements. In reality, users are not accessing the platform for free; instead, the advertiser pays for it. In other words, users do not fulfill any obligations regarding platform use, while the advertiser assumes those obligations and gains profit by notifying and exposing itself to the user. The platform operator fulfills its obligation by providing the advertising medium to the advertiser, but does not guarantee the advertisement’s success and is not accountable for the outcomes of the business. Advertising represents one of the few unique transaction structures in the world that satisfies the utility of each party without necessarily attributing benefits to the counterparty meant to receive them. Such an unusual transaction structure has been rare throughout human history. Although the advertising in...