Author: Seb Joseph

Ad tech moves fast. One quarter, you’re the undisputed king of the open internet; the next, you’re fending off existential doubts about whether you were ever that secure in the first place. The Trade Desk is learning this the hard way. 

For years, the company seemed untouchable. Quarter after quarter, it posted the kind of growth that made the rest of the industry look like a collection of also-rans. 

Then, late last year, the streak ended. After 33 consecutive quarters of meeting or beating expectations. The Trade Desk missed its revenue target. The market responded with all the tenderness of a firing squad — its stock plummeted by as much as 30% and the aura of inevitability that once surrounded the company began to crack. 

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Critics were quick to round on Google following the publication of its latest Privacy Sandbox report, with hard-hitting punditry highlighting concessions around its flaws.

The quarterly report — which Google is obligated to publish, per the U.K.’s Competition Markets Authority requirements — acknowledged functionality challenges, particularly with its attribution reporting API.

Of course, vocal Privacy Sandbox critics, such as Movement for an Open Web and The Trade Desk, were quick to offer their thoughts, with the former labeling the report “yet another nail in the coffin.”

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