How AI Is Upending The Digital Ad Space with Michael Nathanson & Adam Singolda

About this episode

Dan Nathan interviews industry experts on the impact of AI in digital advertising and the roles of major players like Google, Meta, and Taboola.

Dan Nathan interviews Michael Nathanson, co-founder of MoffettNathanson, on the RiskReversal Podcast about his 28-year analyst career and pivot from linear media to digital advertising and Big Tech. Nathanson explains why Google and Meta became a hedge against cord-cutting-driven declines in cable networks, noting their strong growth, performance-ad monetization advantages, and durable distribution. He reflects on mistakes (notably underestimating Netflix) and lessons about backing secular winners while monitoring capital formation and competitive narrative shifts. The discussion focuses on AI’s impact: Nathanson defends Alphabet’s willingness to innovate, infrastructure advantages, first-party data, and TPU strategy, while questioning Meta’s heavy AI and metaverse spending without a clear long-term plan or returns framework. He also describes MoffettNathanson’s industry-first, supply-demand research process and independence from investment banking conflicts. After the break, Dan hosts Adam Singolda, CEO and founder of Taboola, on the Risk Reversal Podcast to discuss Taboola’s role in the open web advertising market outside Google and Meta. Singolda explains Taboola’s performance…

People in this episode

Host: Dan Nathan

Guests: Michael Nathanson, Adam Singolda

Topics covered

• AI in advertising
• digital media
• Big Tech
• advertising strategies
• publisher monetization
• market competition

Keywords

• AI
• digital advertising
• Google
• Meta
• Taboola
• MoffettNathanson
• advertising market
• publisher engagement
• performance ads

Mentioned in this episode

Organizations: MoffettNathanson, Google, Meta, Taboola

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