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There are many 'identifiers', but commonly, at least, a long-living cookie that ties your browser session to ads, tracking, etc.

More granular targeting, especially for portable devices that will change WAN IP.

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Right, it's not the only identifier, but it's one of them, and you will "pollute" each other's targeted ads to an extent. I'm assuming some sort of adtech stuff is happening at the carrier/provider level as well, independent of your browser or individual browsing device.

https://news.ycombinator.com/item?id=17081684

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