Ep 148: The Future of Ad Tech: AI, Agency M&A and the Return of Brand Building with Alex Brownstein

AdTechGod (0:00)

Hey, this is AdTechGod, and do I have a surprise for you? If you're an agency or a brand, you get to attend our conference in Chicago that takes place on September 23rd, 100% free of charge. That's right, agencies and brands get in for free at Marketecture Live Chicago. So if you're interested in learning more about how you create brand visibility in an AI world, creator economy, or whether you're just trying to navigate the blurry lines that sort of exists between CTV podcasts and creator content, then this event is really for you. We've got speakers from across the board, various brands, various agencies, and of course, some of our ad tech loved ones. So if you're interested in attending Marketecture Live Chicago on September 23rd, it's a one-day event and it's a 100% can't miss bootcamp for you and your colleagues. Go to chicago.markitecturelive.com to register. Again, chicago.markitecturelive.com to register. See you in Chicago on September 23rd.

Welcome to the AdTechGod Pod, your window into the world of advertising technology and the people behind it. I'm your host, AdTechGod.

Welcome to the AdTechGod Pod where we speak to some of the smartest people in advertising. Today's guest is someone who's quickly become one of the more thought-provoking voices in advertising and ad tech. Alex Brownstein is a strategic advisor. He's former 3C Ventures and McKinsey, and someone who has really developed a reputation for looking past what the headlines are putting in the papers and putting in the trades and really digging into the true story underneath it. He is a friend of the podcast, so full disclosure to anyone listening. Alex is an investor in Marketecture Media, which is the parent company of AdTechGod. And so in typical fashion, take this as your disclosure, take that FTC.

Alex, thank you for joining me today. Thanks for being my guest.

Alex Brownstein (2:00)

Thank you for having me. Excited to be here.

AdTechGod (2:02)

We know each other. You're obviously involved with Marketecture Media, but I'm definitely familiar with some of your work and your prior employers. I guess before we dig into some of your more thought provoking posts that I've been reading over the last few months, I would love for you to take us through your background, how you got to where you're at today, your time at McKinsey, your time at 3C, and then we'll dig into some of those questions I have ready for you.

Alex Brownstein (2:26)

I think I've had a lot of really interesting experiences throughout my career.

Going all the way back to the beginning, I started investment banking. So I did the standard two year analyst track at Credit Suisse RIP and then was figuring out what to do next. And I decided I didn't really like the people in finance all that much. So I, you know, it was the 2010s. And the thing to do then was go join a startup. So I tweeted my resume to some venture capital job board, and I got picked up by LiveIntent. Yeah, I had to condense my resume to, I think it was then 80 characters or less. Excuse me, fewer, we must be grammatically correct. And got picked up by LiveIntent, joined there working for their first CFO, was there for two and a half years, was my first job in the industry. So I got the operator perspective right away.

Did a lot of really interesting funds, strategic work, reorg the sales team too many times, raised series de-financing, did two acquisitions. Then the job really turned into FP&A, which I decided got kind of boring after you close out a month, 12 times. So went to business school and became a consultant. First at a company that did CEO advisory called Teneo, then at McKinsey in their consumer tech media practice, primarily based out of New York, and then most recently at 3CV, and I left there in May, and then now off on my own doing my own thing. So it's all very exciting.

AdTechGod (4:03)

I want to ask you, the pivot from investment banking to advertising or ad tech is a pretty strong pivot.

I mean, it's a very different world. I follow a lot of the investment guys, but it's such a different language, a different culture. What do you think carried over from your time as an investment banker or working in investment banking to ad tech? What carried over with you that you feel like helped solidify that base of knowledge that you need?

Alex Brownstein (4:28)

Sure. I mean, I have lots of stories over a beer at a non-recorded place. I can tell you my not safe for work stories. But I think ultimately what I like about advertising is for me, it's the perfect blend of psychology and math. If we view, especially in programmatic, everything is an auction. It's not in concepts dissimilar from the stock market and it's thinking about it in a different way.