> and threw a lot of dollars in ads/marketing without deeply analyzing its effectiveness, just because raising money at stellar valuations was free until a month ago.

And in turn, I think you're overestimating the impact of profit-limited capital dependant companies on the advertising landscape.

I was managing a 6 figure ad budget all by myself at an established but small non-tech company and had full E2E tracking flows for pretty much every £. "Burn" isn't a thing in almost all companies out there. You want to spend a dollar, you need to tell your boss exactly how it'll make you a buck fifty.