{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Aperiam Podcast","title":"Erik Hovanec on Ad Tech M&A","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/2845b0df\"></iframe>","width":"100%","height":180,"duration":2509,"description":"Erik Hovanec, former Chief Strategy Officer of Magnite, on how header bidding pushed Rubicon Project into eight acquisitions and why integration is harder than the deal. Erik joins Corey Ferengul and Joe Zawadzki to explain the chief strategy officer role, how to tell a pan fire from a house fire, and how to build consensus by leading from behind. He walks through the SpotX and SpringServe deals, his view of ad tech as an intermediary business that wins on transparency and scale, and why extractive margins invite competition. For founders, he covers what kills deals, why acquirers buy execution rather than vision, and what AI does and does not change about pricing, margins, and cap tables.","thumbnail_url":"https://img.transistorcdn.com/BFE3tB87KCFvGIG1_kQzVG7YMo47VodG83SrwRxKOjY/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8wMGRk/YmE2NDM0OWY4NTU5/MjdiOGE4NWUzMDBi/NGMwYS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}