“Instead of just pumping ads through Facebook and trying to find someone who fits a profile, you spend a lot more time really narrowly targeting your demographic, your niche, and then finding ways for them to find your product organically.”

ATT is short-term pain but forces organic acquisition that builds lasting asset value

ATT degraded Facebook targeting efficiency — CACs rose 20-30% and install-to-subscribe rates fell because apps could no longer reliably reach their ideal user. Eric Crowley frames this as a forcing function: the companies that adapt will build organic acquisition engines (partnerships, content, influencers) that are not dependent on two tech companies in San Francisco. Those organic channels show up in enterprise value at exit; a Facebook-only channel does not.