Just a curiosity for today. I came across the below image created by an investment banker who specializes in digital advertising investments. From my experience, I can say not everything in the image is correct, but it’s close enough. This gives an appropriate sense of the dizzying complexity behind modern display advertising on the web.

Although banner advertising was an early & ubiquitous form of digital advertising, it has come a long way since the 1990s. When you get down to the logistics of scaling ads across “the web” – which no central network really controls – you need a lot of help.