So you’re probably all reading the headlines about Uber/Lyft shutting down today.
Many of you don’t know much about #AB5. So let me tell you, this was a direct attack on any and every 1099 in CA.
The target was the “gig” economy, but it hurt us all.
There have been concessions made, but in essence the bill is terribly written, entirely vague and for the most part hurts many of us during a difficult year.
This bill is hurting many many many people and there are a slew of FB groups dedicated to fighting it.
The California legislature over-stepped their bounds. But make no mistake, the headlines will be about Uber/Lyft.
But for the rest of the 1099s that can’t afford hefty lawyer fees, they are screwed. CA is a state that doesn’t work anymore. We need change, BAD.
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This is what running ads on FB in 2020 looks like. You get amazing results on a 1 day, then it dies completely by day 6/7. Rebuild, get great results on a 1 day, then dies. Rinse and repeat. Every single ad account has this same experience, either spending $25k a month or $600k.
And here is why this is my concern….
This tells me it’s an audience / auction issue more than anything.
Is it?
A. FB’s attribution loss post 1 day is affecting who it serves to?
B. FB’s pocket for each advertiser is that small forcing terrible auctions by day 3-5?
You can expect regression as you scale, that’s normal. But to simply go from in this case a 7x on prospecting with tight exclusions to losing money that fast WITHOUT scaling spend shows me the system is enhirently broken from where it used to be and THAT IS A PROBLEM.
It’s going to be 108 today in LA and the homeless on Skid Row have no shelter. Since covid, the missions can’t have as many folks at them by half.
This is a critical day to save lives. We are gonna pass out water on Skid row DTLA. If you wanna contribute, Venmo: @davidherrmann
There are thousands of homeless down here, and it’s gotten even worse since covid. Our city services have neglected these people. It’s time to step up. At least for these hot days we gotta be out. Covid or not.
To be honest, the best fit for Tiktok is a conglomerate led by Universal Music Group.
But they don’t have that kinda money....
So a conglomerate of all the major music labels together, plus private equity, then add in Spotify / Apple on the board. Data is only shared internally. Data is used for record industry. Helps grow the industry.