Google is rolling out updates to search ads that include the removal of the “ad” label and adding business names and logos.
These changes help to make Google Search ads easier to distinguish from organic results.
Google recently changed search snippets for website homepages by displaying the website’s name rather than the title tag.
Now, business names will be the topmost visual element of search ads. See an example of the new design below:
Previously, the landing page URL appeared at the top of search ads, followed by the ad title text.
Google still displays the URL and title text in the new design. It isn’t removing information; it’s making the business name more obvious.
This change may be helpful in situations where a business is bidding on a competitor’s keywords. It will be more apparent to searchers which business’s website they’re visiting when they click on an ad.
In addition to business names, Google is now displaying business logos in search ads.
This change makes it even more apparent to searchers which business is paying for the ad, so there are no surprises when they get to the landing page.
The inclusion of logos assists searchers in another way by making ads more distinguishable from organic results.
Organic search results are typically plain text, with the occasional thumbnail on the far right.
A business logo on the top left is now a defining characteristic of search ads, setting them apart from organic search snippets.
Google has faced criticism for ads looking too similar to regular results. With this update, there should be less confusion.
Lastly, Google is doing away with the “Ad” label in favor of a new “Sponsored” tag.
The word “Sponsored” will now be featured on its own line in the top left corner of search ads.
These updates to Google Search ads are gradually rolling out on mobile, with a similar experience planned for desktop later.
Business names and logos in Google Search ads are currently in beta and is limited to advertisers who meet eligibility criteria.
The eligibility criteria include the following:
When the eligibility criteria are met, Google Ads will crawl your landing page to find the business name and logo and automatically add them to your campaigns.
You’ll have the option to review and remove any automatically added information you don’t want to include.
Alternatively, you can manually add a business name and logo to each campaign.
Google will review all business names and logos to ensure they comply with Google Ads policies and format requirements.
If Google cannot include your business name, it will instead show the domain from your display URL. Google will add a blue globe icon if it can’t display your logo.
The new business name and logo features are rolling out automatically. Advertisers will get a notification in their Google Ads account when they receive access.
Featured Image: JL Images/Shutterstock
(Ad) Planning and implementing can be daunting if you're unfamiliar with display advertising. But have no fear because we will discuss the ins and outs of display ads and uncover three common myths about this popular marketing tactic.
After over two decades since its release, Google Ads is still standing strong among newer advertising platforms. It generated a whopping $209 billion of ad revenue in 2021 alone for Google’s parent company, Alphabet.
While the numbers are all there for the tech giant, the question remains: should businesses still choose Google Ads as their main advertising platform?
The short answer is: they may. But while the platform has its advantages, there are also potential challenges. Here, we’re going to examine the pros and cons of using Google Ads, so you can make an informed decision before you start using it.
First, let’s talk about the good stuff!
Table Of Contents
Google is still the leading search engine, undisputed, maintaining a market share of over 90%. Google search ads allow you to reach audiences you probably couldn’t have with other platforms. And remember – we aren’t only talking about Google search itself here.
Google Ads also allows you to advertise on Gmail, Youtube, and millions of sites in Google Search and Google Display Network. So, regardless of the type of campaign you choose to run, you are guaranteed to reach many users.
Needless to say, if exposure is what you’re looking for, then Google Ads is your best bet.
This is one of the most attractive benefits of using Google Ads, especially when comparing it to SEO. Getting your page on top of organic search results requires a lot of effort, and it can take months to get to that result.
With the right bid, Google Ads guarantees you a top space in the search engine instantly. With paid search you can move up from your competitors and reach your audience a lot quicker.
This is especially useful for new businesses that are looking to promote their services locally, for example.
Looking to start running Google Ads campaigns? Learn how to use GetResponse for creating paid search Google Ads to make the process fast and easy!
Google Ads is equipped with quite impressive analytics about your user base, campaigns, ad campaigns, and the keywords you use. This gives you plenty of space for optimization. The interface itself makes it easy to skim through the data and find the information you care about the most.
When it comes to data, the most important benefit is the possibility to link your Google Ads account to Google Analytics (you can check how to do it here.)
This way, you unlock multiple insights, such as:
Today’s digital advertising scene is oversaturated. That’s why, having a clear-cut target user base that much more important.
With Google Ads, you can choose the demographic you want to target by numerous factors:
You can also target users by more advanced criteria, such as:
By making use of audience exclusions, you also ensure that your shopping ads won’t show to audiences less likely to be interested in your product. This narrows your target audience even further.
With such a detailed audience targeting system, you’re able to get the most out of the money you put into your ads and make your case for a better ROI.
You don’t need to worry about exceeding the budget for your ad spend.
Google Ads makes it possible for you to set up a monthly budget on an account level, as well as daily budgets for each ad campaign. When you spend that budget, your ads will simply stop running.
By using manual bidding, you’re also able to set the maximum CPC per keyword to make sure you won’t exceed that amount. This is especially beneficial for smaller businesses, which are more often constrained by tight PPC budgets.
Note: Google specifies that because of fluctuations in traffic, there might be some days when your campaign will overdeliver. However, this won’t make you exceed your monthly ad spend limit.
Now that we have talked about what’s good about the platform, let’s take a closer look at some of the challenges that come with using it.
While Google has put a lot of effort into automating many tasks and functions on the platform, it (unfortunately) doesn’t mean you can just sit back and enjoy the show after setting up your campaigns. In order to make the most out of the money you invested in advertising, you need to keep an eye on your campaigns, especially during the early stages.
There’s plenty for you to do:
If you just let your campaigns be, you’ll most likely end up burning through your budget and failing to get the results you expected.
Pro tip: Setting Google Search Ads inside GetResponse will save you the time you’d otherwise spend connecting your ads with landing pages and email campaigns. Learn how to set up Google Ads in our step-by-step guide.
Burning through your budget because of improper optimization or strategy is one thing that you need to be mindful of, but not the only one. Google Ads is one of them flexible advertising platforms, so you don’t have to spend a fortune to run a successful campaign.
While that is true, it’s also worth noting that the price of digital advertising is way bigger than it used to be. There are many more players in the game right now, which is why Google Ads itself is experiencing a 14% YOY increase of CPC.
Because of the oversaturation in the advertising market, it’s way harder to stand out from the crowd than it used to be. And to achieve that you’ll need a proper budget.
Pay-per-click ads, for example, are costly by default. For ecommerce companies, PPC can reach anything between $400 to $5,000 each month, depending on the approach you take with your ad spend. So approach your budgets wisely!
A huge mistake many businesses make when opting for Google Ads is focusing only on, well, the ads themselves. A well-crafted campaign may persuade users to click on your ad, yet this advertising platform is the place they’re directed to is where they’ll make a final decision to convert.
Using Google Ads means making sure your website is in top-notch shape.
Pro tip: You will most likely have to create landing pages specifically for ad purposes since Google wants the pages to match user intent the best they can. The visuals, the copy you use, and even the page load speed are all factors you need to think about when crafting your campaigns.
Before you start advertising on Google Ads, it’s best to get informed about what’s currently going on on the advertising platform. Here are some of the most important changes.
Advertisers have been talking about this update since last year when Google first announced the news. As of June 30th, advertisers are no longer able to create new expanded ads or edit their existing ones. Instead, Google wants us to use responsive search ads.
Expanded ads allowed advertisers to add up to three headlines and two descriptions, and that’s exactly what a user would see.
Responsive text ads, on the other hand, let us add up to 15 headlines and 4 descriptions for each ad. Then Google displays different sets so that it is able to learn which combinations are performing best among your target audience.
While responsive search ads are great for getting conversions, you have less control over the copy that’s displayed to users and need to remember to always make sure that each headline and description combination match each other.
…eventually. While Google initially wanted to introduce the change sometime in 2023, it has recently postponed those plans until 2024.
Having user privacy in mind, Google announced some time ago that it was planning to block the use of third-party cookies from external websites. Third-party cookies track users’ behavior across many different websites. That information later helped to craft relevant target groups for different ad campaigns.
What will the change mean to advertisers? Well, you’re most likely need to get used to less specific and more random targeting, especially when it comes to remarketing campaigns. For example, you could try switching to obtaining user data through lead magnets (such as newsletters).
Performance Max campaigns can be run across all Google Ads inventory. This means that with a single campaign, Google is able to search for your target audience through all channels: Search, Display, Discover, Gmail, Youtube, and Maps. The ads are automatically created, based on the assets that the advertiser provides.
Google has been focused on enhancing Performance Max ever since it first came out in 2020 and has come up with a lot of new features for it 2022.
Remember: Performance Max is replacing Smart Shopping campaigns, so it’s best for advertisers need to get more familiar with this campaign type.
If you want to promote your products or services and get yourself noticed among competitors, then Google Ads is an awesome tool to do so (especially if you have a local business and want to put yourself out there!)
But before you start your journey with the platform, you should remember that Google Ads isn’t some magical device that will gather sales-qualified leads from the get-go. It takes time and effort to get things going. Advertising on Google Ads also doesn’t automatically mean sales, especially if we’re talking about B2B customers where the process is more complex and takes way more time.
If you’d like to start advertising on Google Ads, make sure you’re familiar with the best practices to follow when starting out. With the right strategy, a thought-out budget, and careful optimization, you’ll make the most out of the platform and test whether it’s the right channel for your PPC advertising.
For months we have been watching Google test a new ads label in search named "Sponsored" in bold black text. Well, now it is officially live in the Google mobile search results, the search company announced.
We saw Google testing this many many times, over many months.
Google said as "part of helping you make sense of the information you see is ensuring that ads are clearly labeled, which is why our label will now be featured on its own line in the top-left corner of Search ads."
Google said this is because they now "want the label to be prominent and clear across different types of paid content." So now when ads show on Google's mobile search results, those ads will now be labeled with the word "Sponsored" in bold black text font.
Google said "this new label and its prominent position continues to meet our high standards for being distinguishable from search results and builds on our existing efforts to make information about paid content clear."
Here is what it looks like:
So goodbye Google black "Ads" label from 2020/2019 and hello Google "Sponsored" label.
Here is more from Google's Ginny Marvin:
Here is the beta feature in Google Ads:
Google shared more details in this help document.
There is also a new business information ad policy that reads:
On October 14, 2022, a new Google Ads Business Information format policy will be launched. This new Business Information policy allows advertisers to complement their existing Text Ads with business assets such as Business Name & Logos. Learn more about Business Information here. We will begin enforcing the policy update in October with full enforcement ramping up over approximately 4 weeks.
Violations of this policy may lead to an advertiser’s business information not serving. Declining to serve business information for policy violations may occur without notice.
Forum discussion at Twitter.
Note: This was pre-written and scheduled to be posted today, I am currently offline for Simchat Torah.
Google has just announced its plans to launch a number of features aimed at helping publishers monetize their websites and increase their emphasis on first-party data relationships. The features include support for ads personalization with publisher first-party cookies in Google Ad Manager and AdSense.
Expanding publisher first-party cookies. Publisher first-party cookies can help publishers deliver relevant ads without tracking users across third-party websites. Publisher first-party cookies have been available to address frequency capping and fraud control previously.
When a publisher allows, Google provides publisher first-party cookies to help Improve ad relevance on that specific publisher’s website. The solution uses information from ad interactions that users take on that publisher’s own site. This information cannot be used on any other publisher’s website. The feature also respects people’s ads personalization preferences that they have indicated through AdChoice controls.
Publisher first-party cookies are an especially useful solution for smaller publishers, who may not have the resources or infrastructure to leverage first-party data independently. They require minimal technical work from publishers to use.
The introduction of audience signals. Google announced publisher-provided signals last month to help publishers categorize their first-party data into audience or contextual segments and then share those signals with programmatic buyers. Those signals make it easier for programmatic buyers to “find and purchase audiences based on things like demographics, content interests or purchase intent across multiple sites and apps without tracking people’s activity in apps or across the web.”
What Google says. In a statement to Search Engine Land, Google said:
“As part of a broader suite of tools, we’re helping publishers of all sizes build durable advertising strategies that uphold user trust. This solution is really geared toward supporting the publisher base, especially smaller publishers who may not have as many resources, as they continue to navigate changing privacy expectations.”Peentoo Patel, Director of Product Management, Google Ad Manager
Launch date. This feature will be available to publishers beginning in November.
Why we care. If you’re a smaller publisher and don’t have the capacity or resources to capitalize on first-party data, this support feature is for you. Additionally, Google’s support of publishers’ use of their first-party data will only enhance their bottom line, as privacy concerns and ad relevance becomes more prevalent.
New on Search Engine Land
Currently, Google (NASDAQ:GOOG) (NASDAQ:GOOGL) is one of the most resilient businesses in the world. Despite the macroeconomic uncertainty, the company has all the chances to continue to have a dominant position in the digital ads market, it has more than enough resources to weather a major crisis, and its latest initiatives could help it to continue to expand its business more even in the current turbulent environment.
While there's a high chance that the regulators from both sides of the Atlantic would be looking for ways to break the company's digital monopoly, there's a small possibility that major regulatory risks will materialize in the short to near-term. As a result, it's safe to assume that the market underestimates Google's ability to create shareholder value in the foreseeable future, since at the current levels the company's shares trade at a discount to fair value of as much as ~40% in the base-case scenario, creating an opportunity to profit from for investors.
It's safe to say that the digital advertising industry is currently in a cyclical decline due to the turbulent macroeconomic environment. After relatively weak performances in accurate quarters, digital advertisers such as Meta Platforms (META) and Snap (SNAP) already publicly announced that they'll start laying off their people. At the same time, there's a risk that the current cyclical decline in the industry would be prolonged into 2023 due to geopolitical uncertainty and a more hawkish Fed policy, which in the end will likely result in a global recession. The latest forecasts already show that while digital advertising spending would continue to increase, the overall spending growth rate in the U.S. would decelerate in the second half of 2022 and 2023.
As the company is about to report its Q3 earnings results later this month, there's an indication that despite all the troubles that the industry is currently experiencing, Google would be able to continue to expand its competitive edge along with its market share in the foreseeable future. In addition to the pledge to invest $690 million in Japan by 2024 to Improve its products and services, Google is also about to begin monetizing YouTube Shorts in order to gain additional market share in the short video format field.
As a digital advertiser myself, I believe that it makes sense for the company to explore new opportunities in the short video format for several reasons. First of all, thanks to the rise in popularity of ByteDance's (BDNCE) TikTok app in accurate years, we know that a short video format is an engaging way for users to interact with each other. According to different reports, TikTok's revenue is about to surpass the revenues of Twitter (TWTR) and Snapchat combined later this year, which is a sign that there's an opportunity for monetization in the short video format, especially for a company like Google that already has a significant presence in video thanks to YouTube.
What's also important to mention is that despite significant growth in accurate years, TikTok has a major problem that makes it exposed to competition. That problem is the lack of incentives for content creators to continue to create short-form videos, as they don't generate a lot of revenue from ads and instead rely almost entirely on sponsorship deals from which the app doesn't make any profits. While earlier this year TikTok announced a 50% ad revenue share program, that program is covering only a small portion of content creators.
Considering this, there's a high probability that the short format video creators at the very least would be interested in exploring what Google has them to offer with YouTube Shorts. From what we already know, Google plans to pay 45% of the ad revenue to those YouTube Shorts creators, who have over 1000 subscribers and 4000 watched hours, which could be considered a relatively low entry requirement. At the same time, the company's management in the latest Q2 earnings call said that the initial results of the YouTube Shorts monetization program were encouraging and that the program itself will be launched at the beginning of 2023. If Google manages to successfully launch the program and lure in a large portion of TikTok content creators, then the company would have new opportunities to accelerate the growth of its video advertising business, which should result in the creation of additional shareholder value in years to come.
In addition to all of this, while the advertising spending growth rate in comparison to the growth rate of accurate years is expected to depreciate in the following quarters, there will come a time when this cyclical decline will reverse, and by that time, Google would have additional tools that should help it to benefit the most from this change. Some reports suggest that by 2027 the ad spending in the digital advertising market would reach over $1 trillion, with search and video advertising leading in the amount of spending in comparison to other segments.
Considering that it's unlikely that Google would lose its dominant position in the search segment due to the competitive edge that it built over the last couple of decades, it makes sense for the company to focus on the video segment, which has the potential to continue to grow at an aggressive rate in the following decade. If the company manages to successfully launch the YouTube Shorts monetization program and actively attract major content creators, then it'll likely be able to capture a significant portion of the video segment in years to come.
Considering all of this, it appears that the latest depreciation of Google's shares is nothing more than a market overreaction due to the worsening macroeconomic environment. Even when it becomes obvious that it's likely that we'll enter a global recession in the following quarters, the latest estimates still suggest that Google would be able to continue to grow its top-line at a double-digit growth rate, which is a sign that its business is as resilient as ever.
To figure out how much upside Google's shares offer at the current levels, I have recently updated my DCF model where the top-line growth is almost in-line with the street forecast, while all the other major metrics are either averages of accurate years or close to the latest reported period. The WACC in the model is 7% while the terminal growth rate is 3%.
My model shows that Google's fair value is $142.44 per share, which implies an upside of as much as 40% from the current levels. My price target is also close to the street consensus price target of $139.42 per share.
Considering all of this, it makes sense to say that the market lost its mind when it punished Google's shares to the levels at which it trades today. However, the good news is that thanks to such an irrational depreciation, investors now have an opportunity to profit, as there's every reason to believe that the company would be able to successfully navigate through the current turbulent environment and even increase its presence in the video segment at the same time.
In the short to near-term, the only major risk to the company is a prolonged global recession. The latest decision of OPEC to cut its oil production along with the Fed's decision to continue to execute its hawkish policy and engage in quantitative tightening to tame inflation have already severely rocked the markets and there's a risk that most stocks will continue to depreciate in the foreseeable future. As a result, there's a possibility that Google's stock would continue to decline and trade at even more irrational levels until the macroeconomic situation, over which the company has no control, improves over time.
As for the long-term risks, I believe that a change in the regulatory environment and the constant prosecution from the antitrust watchdogs is the only major thing that can disrupt Google's business model in the following years. Back in June, I already wrote an article that explained how the regulators from both sides of the Atlantic are looking for ways to level the playing field, which includes stripping Google and its peers their monopoly status in the digital advertising space. In accurate months, several major developments have occurred, which could potentially force Google to make some unpleasant changes to its business and lead to lower returns in years to come. However, those developments don't pose a major threat to the company in the short to the near term, as they're unlikely to materialize anytime soon, but I plan to write a separate article about this and highlight what Google investors should expect from the upcoming changes on the regulatory front.
While there are certain regulatory risks regarding Google, those risks are unlikely to severely affect the company's position in the digital ads market anytime soon. At the same time, with a nearly 40% upside, it appears that the company's stock is oversold and could be considered a bargain at the current levels.
Let's not forget that Google has more than enough resources to weather turbulent times, and at the same time, it has more than enough capabilities to continue to launch new products and services, which are able to create new monetization opportunities for the business and help it to further expand.
Considering this and the fact that there's an indication that the company will continue to generate double-digit returns despite the macroeconomic concerns, it appears that Google continues to be a solid stock to own for investors, especially at the current levels.
Google is changing how it formats search results on mobile, the company announced today. Paid results will now carry a larger “Sponsored” tag rather than the simple “Ad” tag they had before, and each website’s name is now listed at the top of each search result. The “size and shape” of each website’s favicons are also getting updated to make them easier to see. The new search results format is rolling out now on mobile, and Google says it plans to test a “similar experience” for desktop searches “soon.”
In its blog post, the company explains that the new “Sponsored” tag is being introduced to ensure that “ads are clearly labeled” with a tag that’s “prominent and clear across different types of paid content.” Meanwhile, showing site names and favicons more prominently in search results is aimed at making it easier to “identify the website that’s associated with each result at a glance.”
Google’s changes to the formatting of search results have occasionally been criticized for making it harder to tell where paid results end and organic results begin.
The timeline in this tweet from 2019 (via TechCrunch) shows how the search giant has changed the formatting of sponsored results on desktop over time. It has gradually moved away from formatting paid results with a different background color to simply showing them with a small “Ad” tag on desktop.
The criticism was most intense in 2020 when Google rolled out a new look for desktop search results that added favicons to organic results. The problem was that these small icons were almost the exact same size as the “Ad” tag on paid results, which made it difficult to tell the two apart at a glance. After an outcry, the company backtracked on the design change and said it would “experiment with new placements for favicons.”
As of this writing, favicons still haven’t been widely rolled out for desktop search results.
Google’s paid results are still harder to distinguish than when the search giant used to use different colored backgrounds, but switching from the two-letter “Ad” tag to the much larger “Sponsored” tag on mobile feels like a step in the right direction.
Google now automatically pulls in relevant creative content from a company’s landing page, website, existing ads, and keywords in ad groups to complement the creation of responsive search ads (RSAs).
The new setting -- which is being tested with some advertisers but not all -- gives Google the ability to …
Google's senior vice president of advertising and commerce Sridhar Ramaswamy
Krisztian Bocsi | Bloomberg | Getty Images
A top former Google executive wants to make searching the blockchain easier with his new startup.
Sridhar Ramaswamy, who led the internet giant's ad business from 2013 to 2018, has started a new company called nxyz. The venture is officially launching Wednesday after attracting investment from several top investors, he told CNBC exclusively.
Armed with a rolodex of eminent Silicon Valley connections, Ramaswamy secured $40 million in funding in May to establish nxyz as a separate entity to Neeva, a privacy-focused search engine he also owns. The round was led by Paradigm, a prolific crypto and "Web3" dealmaker, while Coinbase, Sequoia and Greylock — where Ramaswamy is a partner — also invested. Ramaswamy will remain as Neeva's CEO while he also leads nxyz.
Nxyz was conceived earlier this year by a team of engineers at Neeva, a search engine that doesn't include any ads and blocks online tracking tools. Ramaswamy built Neeva in 2019 after leaving his role as senior vice president of Google's $150 billion ad business a year earlier, which he says was over disillusionment with its relentless focus on maintaining growth at the expense of users.
In a March blogpost on Neeva's website, nxyz is described as "an experiment bringing the same user-first ethos of Neeva search to web3." Web3 loosely refers the idea of a more decentralized version of the internet powered by cryptocurrencies, nonfungible tokens and other technologies. It encourages placing ownership of data in the hands of users instead of Big Tech platforms, which use people's personal information to target them with ads.
"To me, the big advancement with a blockchain is that it introduces this idea of decentralized computation, where you're uploading a piece of code to a blockchain and the code is running there," Ramaswamy said in a CNBC interview. "No one is in charge. It is decentralized storage that is owned by a collective. Plus, they also have utility in the form of a native token currency that has been designed to provide incentive for the system."
Nxyz trawls blockchains and associated applications for sought-after data on things like how much someone holds in their crypto wallet, or what NFTs they're buying. It then streams this data to developers in real-time using tools called APIs. The platform currently supports the Ethereum, Polygon and Binance networks, and Ramaswamy says it's looking to include more over time.
Unlike Neeva and Google — the "Web2" behemoth Neeva wants to disrupt — nxyz's Web3 search software isn't targeted at consumers. Rather, it wants to offer clean blockchain data to large crypto firms, kind of like how Bloomberg sells Wall Street institutions access to financial data and news with its terminals business. Ramaswamy named crypto custody firm BitGo as an early client it has partnered with.
Parsing data from the blockchain is a messy process, he explained. Smart contracts — programs that power crypto applications — can be assigned designated tasks. But once they're out in the wild, knowing what functions they carry out in practice can be difficult. As an example, bugs in key smart contracts known as blockchain bridges have opened the industry up to mega hacks, with bridges from Binance and Axie Infinity maker Sky Mavis suffering nine-figure breaches. More insight into the performance of those tools could Improve security.
"It's one thing to write smart contracts that can do things. But you need to have a record of, what did they do? And how do I surface that?" Ramaswamy said. "It's everything from, 'What does your wallet contain?' to, 'If you've swapped a USDC token with ethereum, what was the exchange and when did that happen?'"
Nxyz's launch comes as crypto investors reel from a deep pullback in token prices, with bitcoin, the world's largest digital currency, down 70% from its all-time high. Among the main factors driving the current so-called "crypto winter" are higher interest rates from the Federal Reserve and an industry-wide liquidity crunch.
That has led to a tougher environment for crypto and blockchain-focused startups seeking to attract capital, with Pitchbook data showing VC investment in such firms dropped 37% to $4.4 billion in the third quarter from $7.6 billion the quarter prior. Of those that have successfully raised, several are seeing their valuations remain flat or fall. Nxyz declined to disclose its valuation.
Ramaswamy said the firm was lucky to raise funding when it did. Talks with investors began in mid-April and concluded by mid-May, around the same time so-called stablecoin terraUSD and its sister token luna started crashing. Asked about souring investor sentiment toward crypto, the entrepreneur said his firm was "well-funded to sit out the crypto winter," adding it only needs around 20 employees. "I think it'll be a very different trajectory" to Web3 and crypto companies that have run into financial troubles, he said. "We want to be very mindful of the current climate, build carefully, and make sure that we are also bringing in revenue early on."
Nxyz's team is currently split across Mountain View, Austin and New York.
While stock prices of crypto trading platforms like Coinbase have come down quite a bit, the infrastructure that powers "Web3" remains a hot target. Firms like ConsenSys, MoonPay and Ramp have raised sizable amounts of cash this year. "Web3 developers today lack fast, flexible, and reliable infrastructure to support their applications, which holds the industry back from widespread adoption," said Matt Huang, co-founder and managing partner at Paradigm. "Nxyz has a truly superlative team that has built the best data indexing infrastructure for Web3, and we at Paradigm are thrilled to support them."
Still, Web3 has been a punching bag for some leaders in Silicon Valley, like Twitter co-founder Jack Dorsey and Tesla CEO Elon Musk. A "general uneasiness" people have when it comes to Web3 is there's no "common term and definition," according to John Lee, blockchain lead at e-commerce firm Shopify.
"Every time somebody in the general public has a conversation with somebody in the industry, they get a different definition, they get a different explanation," Lee said. "It's confusing to people."
Meanwhile, the space is rife with scams, including infamous "rug pulls" where fraudsters flee a bogus token project once they've pocketed enough cash. Ramaswamy concedes "there have been a lot of scams" in Web3. But he hopes more practical use cases like video games, concert tickets and remittances will eventually catch on.
As for whether Web3 can crack the dominance of digital giants like Google and Meta, Ramaswamy said "the dice is loaded against" upstarts like his. However, staff at Big Tech firms are increasingly quitting to join roles at crypto businesses. That includes Ramaswamy's eldest son who, according to his father, recently joined a Web3 company.
Asked for a take on his former employer, Ramaswamy said he thinks the company became a victim of its own success. "I think Google is an incredibly successful company," he said. "But its growth mindset, combined with a monopoly position, produces a bad outcome."
"Let's say there was only one toothpaste manufacturer for all of the U.K. They'd be like, yeah £1 is not enough. We're going to chalk it up to £1.20," he added. "Google's sort of like that, where it goes, 'Everybody uses us for searching, you can keep jacking up the price and it's fine.' I don't think it's people being evil" — a reference to "Don't be evil," Google's corporate code of conduct — "I think it's a system that demands growth at all costs."
Google was not immediately available for comment by the time of publication. The company previously told The Telegraph newspaper that its ads "help business of all sizes grow and connect with new customers."
In June we reported about a beta feature in Google Ads that gives Google the ability to automatically create assets for your ads. There is an opt-out feature but there is no way to opt out in mass. This beta got some more wind last week and advertisers are asking Google for a faster way to opt out.
As a reminder, Some advertisers are seeing in the Google Ads console a beta feature named "automatically created assets." This feature allows Google to generate headlines, descriptions, and other assets using your content from your landing page, domain and other ads. I am not sure how long this has been a beta feature, but some are now seeing this show up now. You can learn more over here.
Ginny Marvin, the Google Ads Liason, responded to the requests about faster opting out saying she will pass the feedback along:
Brad Geddes chimed in also on why this is important:
Forum discussion at Twitter.
Note: This was pre-written and scheduled to be posted today, I am currently offline for Succos.
Update: Google told us this feature is opt-in and is turned off by default.