We continue our discussion on why Meta is still the most powerful ad platform and what to expect in the coming year. We break down how Facebook figured out monetization, from early Microsoft deals and disastrous missteps like Beacon to right-hand rail ads and the moment ads entered the newsfeed.

We’ll walk you through the desktop era, the transition to mobile, and why Meta’s make-or-break moment before its IPO changed everything about how ads work today. Plus, we connect the dots to what’s happening right now with the Andromeda update and the increasing need for creative diversification.