Interesting take. A lot of the valuation of the internet entirely depends on advertising click-through rates. Which they're finding more and more are faked, to make more money. Or just improperly count bot traffic (from search engines cataloging and stuff) as human traffic.

I don't think most advertisers really understand this yet. I wouldn't be surprised if this caused a partial collapse in the internet advertising industry because a lot of the numbers are arbitrarily fluffed up. Also a lot of over-leveraged internet companies are now beginning to collapse, like facebook. It doesn't bode well for reddit's 2020 IPO stock opening.

I think if you combine all that with the student loan crisis, and another real-estate crisis, and a stock market bubble... we could easy see another 2008 crash or worse. I think it's something everyone should be prepared for over the next few years.