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If you view advertising as subversive and dishonest, then yes, advertising to smart people is less effective.

Not all advertising is dishonest, and instead informative. Hopefully the new media technologies will let this type of advertising thrive.

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The main reason I perceive advertising as 'dishonest' is that most of it is talking at the consumer, rather than communicating with. Once more companies figure out how to do this, then smart people will evaluate that advertisement with as much value as a fellow community member's dis/approval. Plus the trust factor comes into play heavily. Leo Laporte has a huge level of trust in the tech community, and we all know he is here because he truly loves what he does and would never compromise his community. (And I specifically chose 'community', not 'audience'.)

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