> Advertising has been profitable without spying for many, many decades.

So was the horse drawn carriage. Where is that industry now?

George Orwell could not have conceived a time where everyone was voluntarily carrying an electronic billboard in their pocket. But we are in that world, and that world no longer has room for the Mad Men/Ogilvy/Chiat Day era of ad agencies creating one-size fits all campaigns. Google and Facebook took them out over the past 15 years.