Google's Advertising Monopoly
Advertising has become a big business for Big Tech\u2014and it keeps getting bigger. Google now controls a whopping 91 percent of the search advertising market.\nThe tech giant\u2019s monopoly means it\u2019s almost impossible for businesses not to advertise with Google. That\u2019s especially true if you\u2019re a company that exists entirely online, like the ride-sharing app Lyft, or mattress brand Tuft & Needle. Lyft, for example, spent 92 million dollars on ads placed with Google last year. As a recent article in Bloomberg notes, that\u2019s about 10 percent of Lyft\u2019s 2018 net loss.\nAnd if a business decides not to advertise on Google, a competing brand might\xa0buy its keywords and\xa0place\xa0an ad\xa0against them. It\u2019s an advertising Catch-22.\nThis week on Money Talking, Ilya Marritz speaks with Jake Swearingen, a contributor for New York Magazine\u2019s Intelligencer, about how Google came to dominate search advertising\u2014and what it means for businesses and consumers alike.