Summer hot 🥵 take incoming: the major driver of the downturn of the industry is being conflated as AI by many, when the reality is it’s macroeconomic trends since Covid. AI is reaching mega levels of hype, fueled by tech bro, VC, PE, stockholder fervor. The reality is AI is a tool that’s here to stay, but won’t live up to its lofty “game changing” hype. Especially as it pertains to creative industries. Nonetheless, holding co’s will double down on race to bottom due to shareholder pressure. CONT

likesmarthelpful
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CONT: As they double down, the rise of the indie agency will gain more steam and the holding companies will find that their transformation plans were a path to ruination as they continue to shrink. In several years time, as the hype of AI dies down and/or legislation changes the game, holding co’s will desperately scoop up the indie agencies in a bid to regain relevance. And so another cycle begins.

likesmart

Feels like there are basically two types of people that work in the ad industry right now: the unemployed and the extremely anxious employed.

likesmartfunny

Good take

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Been meaning to write this myself. You're spot on, pal.

likeuplifting

This is the correct take. Nothing is more cringe than watching WPP throw ALL of their eggs in the AI basket without any decision makers down to senior leadership knowing anything about AI. rip

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This slow bleed succckkkkks

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I feel ya. It’s been a tough few years. Hoping for an upswing soon.

uplifting

A lot of the hot new-ish Indies are founded by ex-holding co people who don't seem interested in being tied back to them. I'm sure if the money was right some would sell. But it feels like holing cos are misreading the room on a number of levels and are heading towards irrelevance for most clients except for big ones looking for efficiency.. And agree this was exasperated by COVID.

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True but at a certain price, everything is for sale.

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Feels like more time is spent speaking about AI hype than actually implementing AI tools.

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The people using the tools are the most fun to be around right now. I don’t mean the “Midjourney Marks”, but the people actually making jobs easier

I agree. However, who knows how long it will take for this to cycle through. Holding companies are going to keep pushing this garbage to their clients and it’s gonna take a while for clients to catch on that they’re being sold snake oil. Meanwhile, there’s gonna be a shitload of jobs lost. Lots more indies need to open up and also grow.

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Agree

Not really a hot take, but valid

smart

Most intelligible take I’ve seen on this subject

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Concur

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