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This is simply untrue. Large advertisers are often the most demanding about ensuring that their ads reach the specific audience that they are targeting. Giant companies are the only ones who can afford to hire someone whose entire job is "drive engagement with millennials in the American Southwest" (and yes, I personally know someone whose first job was basically that). Small businesses are much less active in managing targeted ads beyond location, as their marketing is usually done in the spare time of the business owner.

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