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Mean reversion of $TTD multiples will happen if verticalization is real. All of these power open internet.

@AdtechGod @mrjordanbentley How many households are covered by TVision?

@mrjordanbentley Acquired for $40 million

TVision raised ~$70M over 20 rounds 🤯

@Craig_Hughes_ Neal is amazing.

Amazon suddenly has the legend Richter on the circuit. Traditionally, v. hard to get Amazon folks talking publicly and on record to press. In AdTech now.. They’re turning the screw. I suspect they smell weakness and are aiming to kill the aging lion.

@verklin I think it’s a question worth asking “ non transparent for whom “? Actual billing entity or DSP?

@KendraEBarnett @Adweek @PublicisGroupe @TheTradeDesk $TTD disputes everything. Trade Press is wrong Critics is wrong Wall Street is wrong HoldCos are wrong

New for @Adweek: According to a leaked memo, @PublicisGroupe is telling clients to avoid @TheTradeDesk after a third-party audit allegedly found unauthorized fees, bundled charges, and lack of cost transparency. TTD disputes the findings. adweek.com/programmatic/p…

@TheTradeDesk Hi, check out this adage.com/agencies/aa-pu… Why selective application of transparency?

OpenTTD is an innovation platform that gives ad sellers and publishers the features they need to monetize their digital inventory, manage direct deals, and maximize performance. Grow your business,  and help shape the future of the open internet: bit.ly/4bNNHSw

@aripap Who knows how many other contracts have been breached. :(

🚨🚨🚨 adweek.com/programmatic/p…

@verklin $TTD objectivity and transparency story is not flying anymore. Nokia of AdTech in making

I defended $TTD when they had their dispute with the HoldCos about OpenPath but this isn't a good look. Publicis is accusing The Trade Desk of these three improprieties related to fees 1) The Trade Desk improperly applied their DSP fee to other fees charged by TTD and in a way that is not supported by the terms of the MSA 2) The Trade Desk of charging its clients for “additional features which were automatically opted into 3) The Trade Desk did not provide information to prove that the “media and data costs were invoiced at cost, without mark-up adage.com/agencies/aa-pu…

@JudSpencer Why do you think it’s worthless?

I’m calling it. The term “agentic” in ad tech is now worthless. Gone the way of SPO. It’s a PR term with no specific meaning.

@adtechradar @aripap $TTD’s narrative is not flying with wall street anymore.

@aripap Totally, but it works narratively for TTD. Good visual to make their case for their wares, even if not necessarily fair.

NEW: TTD’s CEO likened SSPs to house flippers in a talk yesterday at Marketecture Live. adtechradar.com/2026/03/12/ttd…

@KarstenW @StockSavvyShay Growth trajectory is on downward trend too.

@Adtechfather @StockSavvyShay Meh. Most investors don't understand and don't care, and the "conflict of interest" narrative is false anyway. All they do is look at the growth rate trajectory.

$TTD Q4 EARNINGS • Revenue $847M vs Est. $841M • EPS $0.59 vs Est. $0.58 • EBITDA $400M vs Est. $376M Q1 Guidance • Revenue $678M vs. Est. $688M • EBITDA $195M vs Est. $223M

Jeff again discounted $AMZN on today’s $TTD earnings. Market reacted.

Why $TTD’s dismissal of Amazon DSP as a competitor is a structural weakness This mindset was understandable a few years ago when Amazon’s DSP was largely a walled-garden performance tool for retail media. But that framing no longer reflects reality. 1. Control of First-Party Data Amazon sits on unmatched commerce and streaming signals — the very currency driving future audience targeting. When buyers consolidate budgets, they prefer platforms with proprietary shopper & streaming data. 2. CTV Share Shift Amazon Prime Video’s ad-tier is scaling rapidly. ADSP plugged in Netflix and Roku recently. ADSP is a preferred buying destination outside of Google DV 360. ( prime video doubled ad load in Q2 ) 3. Workflow & Switching Costs $TTD often positions itself as the “open internet champion” and counts on workflow lock-in as a moat. But Gen-AI-driven workflows are lowering switching costs. Buyers can move budgets into Amazon DSP with minimal friction when the incremental performance is superior. 4. Strategic Implication By not treating Amazon as a primary competitor, TTD risks: •Under-investing in product areas (like retail-data-driven optimization. •Over-indexing on narrative battles against Google instead of addressing the most immediate share threat from Amazon •Missing the chance to invest in SMB and long tail advertisers.

@stateofstreamtv How about $ROKU buying $TTD?

New thesis $OUT buy $TTD 🪧

@jdonovan42 @stateofstreamtv @MinotaurStocks @aripap @AdtechGod Seems like Jeff again discounted Amazon as ads competitor. :)

@stateofstreamtv @Adtechfather @MinotaurStocks @aripap @AdtechGod Yep. Even if they beat Q4 25' big= Q1 26' comp= tough. Q1 25' was 26%, Q2 was 18%. Analysts have 1h guide at like ~13% growth= validates SaaS-mageddon, Amzn, AI overviews, walled gardens are all weighing. 2H 26' growth "should" recover >15% on MT election but margins must hold up

@stateofstreamtv @MinotaurStocks @aripap @AdtechGod @Adtechfather Hey guys. Not an X expert so hope this isn't considered spamming you. I escaped the stock in the 50's but just wanted your view on my contrarian take nobody's talking about below-Thx x.com/jdonovan42/sta…

@jdonovan42 @mind1nvestor Agreed

@Adtechfather @mind1nvestor Yeah right now almost doesnt matter if they beat and raise as long as SaaS hasn't bottomed it goes down again

$TTD Tomorrow is probably the most important day in this company's history. Earnings will decide everything! The support level has been reached ✔️ Bullish divergence on the weekly RSI ✔️ The recipe for a massive reversal is fully in place. But this is a double-edged sword, lose the current level and $TTD could fall all the way to $12. 750% upside on the line! 🫡

@jdonovan42 @mind1nvestor * And not new technology

@jdonovan42 @mind1nvestor I think the we are yet to see bottom. Today’s Ventura ecosystem story is more positioning change and new technology.

@aripap Seems like just re packaging of existing capabilities.

Trying to parse whether this is a new thing or just new packaging. Seems like they're offering Ventura as a monetization layer instead of a full OS.

@jdonovan42 @stateofstreamtv @MinotaurStocks @aripap @AdtechGod $roku for sure. Way better than Ventura in-house development. Waiting for upcoming earnings to hear more on Ventura

@stateofstreamtv @Adtechfather @MinotaurStocks @aripap @AdtechGod That is some strategic thinking there. Clearly I was in super tactical mode thinking it was somewhat strategic. Either Roku or DOOH would have been light yrs better at $115 than here right?

@tkawaja @stateofstreamtv @jdonovan42 @MinotaurStocks @aripap @AdtechGod I think the tables will turn soon and Roku might go after $TTD :)

@stateofstreamtv @jdonovan42 @Adtechfather @MinotaurStocks @aripap @AdtechGod Yup