The Trade Desk’s Jeff Green on ad tech’s big issues
By Digiday Editors • May 16, 2025 •
Parallel to the glitz and glamour of the upfront conversations this week, ad tech execs have also been congregating en masse in New York City, with DMS by LUMA a highlight of the past five days for such types.
The May 13 event was capped off with The Trade Desk CEO Jeff Green discussing the evolving digital advertising landscape on stage. The discussion included Google’s prolonged deliberations on whether it should deprecate cookies, The Trade Desk’s recent financial performance, and its TV-play Ventura.
‘Big Google’ wants to maintain cookies
Green was vocal in his doubts that Google would follow through on its initial intention to deprecate third-party cookies in Chrome, a position that made him a voice in the wilderness in 2020.
However, this assertion proved correct in April, with Green’s reason for doubting the deprecation centering on Google’s growing antitrust concerns.
“I didn’t believe that was in the best interest of big Google,” he said in conversation with LUMA Partners CEO Terry Kawaja. Green further added that, after much delegation of decisions to middle management, the final call (likely) came from Alphabet CEO Sundar Pichai.
“What this really boiled down to is Google, for years, was doing things that is antitrust-[risking], using privacy as a shield… I was making the prediction that their antitrust concerns were growing at a faster rate and a bigger concern for them than their privacy concerns.”
The Q4-miss was ‘one of the best things…’
Following a rare stumble in Q4 — The Trade Desk’s first earnings miss in over eight years — the ad tech giant bounced back with a strong performance the following quarter, reminding everyone why it’s long been the industry’s golden child.
However, that wasn’t until after its stock price tanked as much as a third following its Feb. 12 disclosure, with Green acknowledging a sense of glee over its misfortune.
“There was a lot of criticism, and a lot of hate, I didn’t expect to get that turned up,” he said, noting, “I didn’t understand the disconnect.”
Green went on to say, “There were a lot of people that also said, ‘Oh, this is it for them’… and that was incredibly motivating… I think in the long run, we’ll look back on the miss and Q4 as one of the best things that ever happened.”
TV makers need new business models, hence Ventura
In November, The Trade Desk confirmed it is launching its own smart TV operating system, Ventura, to strengthen its hand in the CTV ad game. This move deepens data access, boosts ad revenue, and integrates its platform directly into streaming experiences, but many wondered if TV manufacturers would play ball?
Green explained his company’s investment thesis, adding that such manufacturers struggle to profit from hardware alone and see advertising as the key to long-term monetization. He asserted that The Trade Desk is a natural partner for them to navigate a complex, unfamiliar ad ecosystem.
“I don’t think we have a right to it, if you will, I just think we have an opportunity,” he said, adding that while some, such as LG and Roku, have made significant strides in the CTV ads sector, many others need guidance. “Almost all of them are looking at it saying, ‘I don’t know much about advertising… this place feels very complicated and very convoluted’… once again, this plays to [The] Trade Desk strengths.”
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