I wasn't going to comment on this story, as I'm clearly biased. I used to work for an early facebook marketing partner, and I am very familiar with their advertising.
This video is sensationalist, a large portion of all internet advertising is click fraud, no one is arguing against that; however, that doesn't mean you can't get results from social ads if you have the right expertise.
I don't know what kind of budgets you have managed, I have personally devised campaigns with millions of dollars in spend for brands, and they worked out very well. Of course, the targeting we did was very advanced and impossible to do for most people.
This video is sensationalist, a large portion of all internet advertising is click fraud, no one is arguing against that; however, that doesn't mean you can't get results from social ads if you have the right expertise.
I don't know what kind of budgets you have managed, I have personally devised campaigns with millions of dollars in spend for brands, and they worked out very well. Of course, the targeting we did was very advanced and impossible to do for most people.